Pinbar and Bollinger Band Forex Chart Patterns Strategy
This chart pattern strategy work on a 4 hour chart and applicable to all pairs that there is high volatility and daily pips range.
Forex Indicators:
- Bollinger Bands (20, 2)
- Pin Bar
- Jma Starlight (2, 3)
- 5 EMA
Long Entry:
- Pin Bar must touch lower band of the BB.
- Buy when JMA Starlight cross up 5 EMA.
Short Entry:
- Pin Bar must touch upper of the BB.
- Buy when JMA Starlight cross down 5EMA.
Enter in the market only if the pin bar touches the upper band or lower.
Stop Loss:
- for buy 5 pips below the lower bands
- for sell 5 pips above the upper band.
Profit Target 35-60 pips depends by currency pairs.
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