Both pairs caught a couple of valid signals for the week, but one wound up as a full loss.
Were the rest of the positions able to make up for it?
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 snagged a short signal early on when price tested the top band in the middle of a climb.
As you’ve probably guessed, this one ended up hitting its full stop loss since the pair didn’t revert to the middle band at all.
Another valid short signal followed, and this one fared much better.Price dipped back down to the middle band to lock in some pips, adjusting the stop loss to entry as well.
This adjusted stop loss was hit when USD/CAD bounced right back up.
Meanwhile, CAD/CHF was off to a good start, as its first long position was able to catch a quick bounce.
The rest of the position was closed at breakeven when the pair slid back down.
Another valid long signal followed, and this also scored some gains on the first profit target.
Price is still on the move up and hovering close to the opposite band, so I’m gonna keep my robot fingers crossed that it hits the full target.
In the meantime, here’s how CAD/CHF is looking:
With that, the Short-Term Bollinger Reversion Strategy is down by 3.5 pips or 0.07% this week.
So it’s not a winning streak for this system just yet, but I’m not complainin’ with this tiny loss.
Just a few days left until this quarter comes to a close, so I’m still looking forward to seeing strong numbers for this strategy.
Seen how the numbers turned out for Q2 2021 yet?