Bollinger Bands reversal trading
can be used with sideways market for scalping, day trading or swing. RSI
is for find when the price is overbought and oversold zone.
Time frame 5 min or higher.
Currency pairs: EUR/USD, AUD/USD,
GBP/JPY, GBP/USD, USD/CHF, USD/JPY.
Indicators:
Bollinger Bands (period 50, deviation
2.0);
Bollinger Bands (period 50, deviation
3.0);
Bollinger Bands (period 50, deviation
4.0)
RSI 14 period, close.
Rules Bollinger Bands reversal trading
system with RSI
Buy
The price touches an lower band of
Bollinger Bands with deviation (2.0 -3.0, 4.0 you can choose your
level of risk).
For entry wait the RSI that crosses
upward the 30 level from oversold area.
Make profit at the middle band or with
ratio stop loss 1:1.1
Place initial stop loss below an the
lower band.
Sell
The price touches an upper band of
Bollinger Bands with deviation (2.0 -3.0, 4.0 you can choose your
level of risk).
For entry wait the RSI that crosses
downward the 70 level from overbougth area.
Make profit at the middle band or with
ratio stop loss 1:1.1
Place initial stop loss below an the
lower band.
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