Things have been pretty slow for this strategy for the past couple of weeks.
Was it able to pick up on winning signals this time?
Time 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 trading around the top band early in the week before price topped out.
It had a bit of a downtrend going on in the days that followed, but it didn’t really bounce off the Bollinger Bands.
With that, the pair chalked up another signal-free run, just as in the previous week. Ho hum!
Meanwhile, CAD/CHF dipped to the bottom band before starting an uptrend that lasted throughout the week.
Unfortunately it wasn’t able to catch a valid long signal on the bounce since RSI wasn’t turning higher from the oversold region then.
It’s just too bad because the pair actually would’ve made it to the full PT at the opposite band!
This leaves the Short-Term Bollinger Reversion Strategy with no new signals for the second week in a row. At least it didn’t snag any losses, I guess?
