Bollinger Band Forex Chart Patterns Strategy
This strategy works on a 30 minute or higher but works best on 4 hours and daily chart. It is applicable to any currency pairs.
Forex Indicators:
- Bollinger Bands (20, 2);
- Stochstic indicator (5, 3,3,);
- InsideSide Bar metatrader indicator;
- Pin Bar Indicator;
- OutSide Bar Metatrader Indicator;
- Doji indicator.
Short Entry:
- If upper Bollinger band is respected, then there is a selling signal.
- Stochastic must be overbought or over line 80.
Long Entry:
- If lower Bollinger Band is respected, then there is a buying signal.
- Stochastic must be oversold or under line 20.
You can have an entry if these conditions are realized. Wait for the signal. Do not enter trade if there is no signal.
Place a pending order at the trigger level.
Stop loss must be behind the recent highs or lows. Trail stop is also advised.
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