This strategy has been on a roll over the past couple of weeks.
Was it able to continue its impressive run 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 cruised lower during the first half of the week, then caught a valid signal off a bounce from the lower Bollinger Band.
The pair was able to make it to the first profit target at the middle band, which means that the remaining position had its stop adjusted to entry.
Price continued its climb but missed the full target at the top band, retreating back to the adjusted SL.
USD/CAD still managed to lock in a small gain on this trade:
Meanwhile, CAD/CHF had a long position left open from the earlier update that gained more upside traction on its bounce.
This was able to reach the middle band then eventually the top band, locking in a full win on the position. Woot woot!
A short signal followed almost immediately. This managed to score a couple of pips on a dip to the first target before the rest was closed at entry.
Another long signal popped up towards the end of the week, scoring yet another full win for CAD/CHF.
Here’s how it all added up:
With that, the Short-Term Bollinger Reversion Strategy bagged 57.5 pips or 1.15% for the week, carrying on with its winning streak.
Seen how the numbers turned out for Q1 2021 yet?