Thanks to ranging conditions, this strategy scored wins on all its positions for the week!
Check out how many pips it bagged.
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 was off to a running start, as it snagged a valid short play early on.
This short play caught the bounce back to the middle band, but it wasn’t able to sustain the drop all the way to the opposite Bollinger Band.
Instead, the rest of the position was closed at the adjusted SL to entry.
The short position fared much better since it was able to score a full win when the the pair fell instantly and sharply to the opposite band.
This one scored more than 1% in gains for USD/CAD:
Meanwhile, CAD/CHF moved sideways for the most part of the week, but it caught only one valid signal on a test of the bottom band.
The pair bounced right back up to the first target at the middle band but dipped lower to close the remaining half of the position at entry.
Still not bad since it bagged a few pips for the week:
So much for worrying about a shaky start this quarter!
Seen how the numbers turned out for Q3 2021 yet?