Was this strategy able to extend its winning streak to 15 weeks?
Take a look at the latest signals 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 was trending higher for the most part of the week, not really testing the Bollinger Bands until yesterday.
The pair was able to catch a valid short play then, as RSI also turned lower from the overbought zone.
Price dipped to the first target at the middle band, locking in some pips for the pair while rolling the stop down to entry.
This adjusted SL got hit on a quick bounce, leaving USD/CAD with 14.5 pips for the week. Not bad!
CAD/CHF was trending lower for almost the entire week, bouncing off the bottom band a few times but not really generating any signals then.
Eventually, RSI turned higher from the oversold area as the pair was bouncing off support, creating a valid long signal.
The pair bounced back to the middle band to bag pips at the first profit target, then the adjusted SL at entry got hit on the dip that followed.
This allowed CAD/CHF to close out with a 16.5-pip win.
I know it ain’t much, but it’s much better than this pair’s measly win last week!
Besides, these gains are enough to extend the Short-Term Bollinger Reversion Strategy’s winning streak! That’s 15 weeks yo!
