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Thread: Bollinger band candlestick Breakout Powerful strategy

  1. #1
    Trader sniper007's Avatar
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    Bollinger band candlestick Breakout Powerful strategy

    In a nutshell, the name of the thread says it all. This is a powerful strategy if we can stick to the rules. Read carefully.

    Time frame: DAILY Time frame alone.

    Currency pairs: All pairs and instruments.

    Indicator: Bollinger band.

    Bollinger band settings: Default settings.( don't change anything)

    Candle stick patterns: Bullish and bearish engulfed bars. Pin bars.

    How to determine Signals.

    Normally, we know the Bullish Engulfing candle is a buy signal and then the Bearish pattern is a sell signals. Therein what we need to look for is a good bullish or bearish pattern with good bollinger band breakout.

    Buy signal chart picture view.

    Buy signal is confirmed if the candle bollinger band breakout occurred with the lower bollinger band then it is good time to buy.

    Attachment 21593 Attachment 21594

    Sell signal Chart Picture View

    Sell signal is confirmed if the candle bollinger band breakout occurred with the higher bollinger band,then it is good time to sell.

    Attachment 21595 Attachment 21596 Attachment 21597

    STOPLOSS and TAKE PROFIT SETTINGS

    Stoploss is so much important in all trading method we are making use of because no strategy is perfect, so in a nutshell, this strategy is strong, but not a perfect one, so we need stoploss and here is a picture of where to set the stoploss.

    In case of buying signals , the stoploss has to be set above the bullish engulfed bar or bullish pin bar.

    You can see it in the picture with the white line

    Attachment 21598 Attachment 21599

    Take profits should be x2 or X3 of the stoploss.

    In conclusion, we need to ensure risk management, therefore no more than 2-3% risk per position. Read and follow the simple rules. Don't go below the Daily time frame because it will have low effective results.

    PS: Ensure to learn and test on demo account before real account trading.

    Leave your questions and thoughts.

    Thanks.

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  2. #561
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    Bollinger bands is very good trend indicator that shows market trend and the depth of possible corrections. Many traders use it for short and long term strategies. Bollinger bands is used by scalpers too. But traders should not rely only on indicators and they have to use other technical analysis methods and strategies like price action.

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  3. #562
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    Indicators are generally good, but then again, the trader making use of it should have to learn and then know what method works for them, experience has made me know that actually the use of bollinger band can be used in different means, such as trading with the use of the squeezer which I have been also making use of when trading, this is another yet good method of having a stronger signals.

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  4. #563
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    Bollinger Bands are one of the best means through which we can start knowing when the price are into the ranging modes and not just about understanding the trends and as such it is a very good trading indicator but I believe that before you could start making use of it effectively then you should spend enough time into learning how it works and practicing on the demo trading accounts over time. Most times I have seen that we could even use it to read where the market is heading and be able to enter the market on time whenever the lines are pointing towards one direction and whenever they are scattering then you understand that we might have break out.

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  5. #564
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    This is a very nice trading system with the combination of the bollinger band and the candlestick formation and i like the accuracy of it when you used it to take on trades from the market with those marked out point here on your charts. I think that the bollinger band is been effectively used here and the result is super. This is a confirmation that there is no indicator that can not be turned to wonders here if we take our time to work on it and understand how it responses to the market.

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  6. #565
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    I trade many time with this combination it is my default setting that i always use bollinger band in all pair and with all the time frame but the advantage comes our positive if we have good strategy to be used and we should develop our trade plan in direction of price action there effect on our trade is completely positive .

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  7. #566
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    bollinger bands will work well with candlesticks because both are strong tools for trading and making of money, the trader can use both of them for finding of good chances of trading and so the trader can get good and successful trading that will lead to making of good money easily and the trader will be happy with the results he will get always.

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  8. #567
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    Both the ideas should work for trader because if we are simply work with that combination so it is easier to make plan and we have a better system through we get used to trade well , we have to learn about the market and will give trader opportunity to have successful trade results and will give trader always opportunity to have success .

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  9. #568
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    To become a successful trader takes quite a lot of time and learning. That is for sure, however the candlestick pattern gives us so much benefits, we can become profitable depending on how much good confirmations we have, I can see that this bollinger band can help give a good confirmations to the trade going on the ranging reversal movement.

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  10. #569
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    Quote Originally Posted by Lyon View Post
    To become a successful trader takes quite a lot of time and learning. That is for sure, however the candlestick pattern gives us so much benefits, we can become profitable depending on how much good confirmations we have, I can see that this bollinger band can help give a good confirmations to the trade going on the ranging reversal movement.
    It is not what will just happen so fast, the successful trading will take time, and traders will get to give it much time, not that the trader will be rushing to make the success. To trade the market is not what is so easy, we can get to learn and learn always before we will know what to do. Immediately we know what to do regularly, we will soon make it. The bollinger bands is a good indicators for this purpose.

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