Breakout Forex Bollinger Band Strategy
This works on a 15 minute or higher timeframe and applicable to all pairs.
Forex Indicators:
- Bollinger Bands (1, 15);
- Bollinger Bands (3, 18)
- RSI (14) with Bollinger Bands (20, 2).
Long Entry:
- The price breaks upper band of BB (1,15) confirmed by RSI
- EMAs must cross above the middle of the bollinger band (2, 20),
- RSI (14) is greater than EMAs Cross.
Short Entry:
- The price breaks lower band of BB (1,15) confirmed by RSI.
- EMAs must cross below the middle of the Bollinger band (2, 20),
- RSI is less than EMAs Cross.
Exit Position:
- Place stop loss at 10 pips above or below the middle band of the Bollinger 1, 15.
- Other option is to trail stop.
- Profit Target depends time Frame and Pair (recommended);
- When the price touches the upper and lower band of BB (3. 18).
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