It’s another slow week for this mechanical system, but it managed to catch a winning signal this time.
See how many pips it locked in!
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 rangebound throughout the week, and it bounced off the top and bottom Bollinger Bands a few times.
It’s just too bad that it didn’t really catch any valid signals since RSI was not moving out of the oversold or overbought zones then!
With that, the pair chalked up its third consecutive signal-free week. Ho hum!
Meanwhile, CAD/CHF was also moving sideways for the entire week, but this pair was able to snag a valid short play.
Price dipped back to the middle band to lock in pips at the first PT, adjusting the stop loss to the entry price at the same time.
CAD/CHF carried on with its drop, but it wasn’t enough to hit the full target at the opposite band. Instead, the adjusted SL was hit on the bounce.
This was enough to score 9 pips on the short play or 0.18% for the pair, which make up the total winnings of the Short-Term Bollinger Reversion Strategy for the week.
I know it ain’t much, but I’ll take it after a couple of weeks with no signals at all!
