Still got a few signals from both USD/CAD and CAD/CHF this week to round up the quarter!
Did it chalk up its TENTH consecutive winning week?
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 had a long position left open from the earlier update, and this one enjoyed enough upside momentum to make it to the first target.
However, the rest of the position had to be closed at entry when price dipped back to the bottom band.
Another long signal popped up then, and this position was able to stay open long enough to hit both profit targets. Woot woot!Before the week came to a close, a short signal materialized on a test of the top Bollinger Band.
Unfortunately, the pair wasn’t quite ready for a move back down just yet, as it kept climbing and hit the stop loss in the process.
Even with this full loss, USD/CAD was still able to close out with a 14-pip or 0.28% gain:
I know it ain’t much compared to its impressive gains last time, but a win is a win!
Meanwhile, CAD/CHF was moving sideways for the first half of the week, but it didn’t really bounce off the bands then.
A short signal came up at the end of the week, and this position is still open.
With that, the Short-Term Bollinger Reversion Strategy ended up with a 14-pip or 0.28% gain for the last week of Q2.
I’ll be crunching the numbers for Q2 soon, and I’m pretty excited to see how its winning streak adds up.
Seen how the numbers turned out for Q1 2021 yet?