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After its first losing week in nearly four months, was this strategy able to recover this time?

Read on to find out!

In this revised version of the Short-Term Bollinger Reversion Strategy, I’m waiting for RSI to cross above or below oversold or overbought levels to indicate a bit more momentum in the direction of the trade.

Make sure you review the tweaks here.

USD/CAD started off in tight consolidation before busting higher in a bullish trend for the most part of the week.

USD/CAD 1-hour Forex Chart
USD/CAD 1-hour Forex Chart

The pair tested the top Bollinger Band several times throughout, but it didn’t really generate any valid short signals since RSI wasn’t turning lower from the overbought zone then.

With that, USD/CAD is ending the week with no new signals at all!

Meanwhile, CAD/CHF was also off to a slow start as it moved in a tight range early in the week.

CAD/CHF 1-hour Forex Chart
CAD/CHF 1-hour Forex Chart

Price tumbled soon after but didn’t really bounce off the bottom band so much, refraining from generating any fresh signals as well.

This means the Short-Term Bollinger Reversion Strategy didn’t chalk up any wins or losses for now, taking a breather after its first week in the red in a long time.

Seen how the numbers turned out for Q2 2021 yet?