This strategy caught fewer than its usual share of signals over the past week, but did it extend its winning streak?
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 moving inside a tight range throughout the entire week.
Unfortunately, it was not able to catch any valid signals since RSI didn’t reach the overbought or oversold regions then.
Did the other Loonie pair have a more eventful week?
CAD/CHF was also rangebound for the most part of the week, but it edged slightly lower halfway through.It was able to catch a long signal on a test of the bottom Bollinger Band when RSI pulled higher from the oversold area.
Price reached the middle band to lock in pips at its first profit target, adjusting the stop loss to the entry price as well.
The gains weren’t all that impressive, though, as CAD/CHF caught only one measly pip from the position. Bah!
Still, this is enough to keep the Short-Term Bollinger Reversion Strategy on its winning streak. That’s 14 weeks, y’all!
Seen how the numbers turned out for Q2 2021 yet?