After their impressive performance in the previous week, were USD/CAD and CAD/CHF able to sustain their run?
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 was rangebound for the most part of the week but didn’t really make a lot bounces off the Bollinger Bands until much later on.
With that, USD/CAD chalked up another signal-free run!
Meanwhile, CAD/CHF was off to a good start with a long position early on. This went straight up to the profit targets, chalking up a nice 28.5-pip or 0.57% gain right away.
A short signal popped up right after, and this reached the first target at the middle band before consolidating for a while.
The pair eventually broke lower and fell to the full PT at the opposite band. Ka-ching, ka-ching!Later on, one long signal came up after another as CAD/CHF was consolidating at the bottom half of the bands. Fortunately, the early exits didn’t snag any losses.
The last long position is still open for now.
Summing it all up, the Short-Term Bollinger Reversion Strategy bagged 56 pips or 1.12% this week from CAD/CHF’s signals, adding to earlier gains.
Seen how the numbers turned out for Q1 2021 yet?