Bollinger Bands Reversal Price Action Pattern. By the time you finish this article, you’ll know exactly when to enter high probability trade using Bollinger Bands and a special Price Action pattern for your personal Trading strategy.
So many different strategies are used in the forex, stocks, cryptocurrencies or other financial markets. And this classic trading strategy help the traders to identify High-Probability Trade Setups in the market.
The Bollinger Bands Breakout-Reversal Price Action Pattern, or the Gimmee Bar. This wonderful trading strategy looks for a reversal down from the top of a trading range, or a reversal up from the bottom of the trading range.
- Download “TraderVersity-BBGimmeeBar” (Zip/RAR File).
- Copy mq4 and ex4 files to your Metatrader Directory …/experts/indicators/
- Copy the “TraderVersity-BBGimmeeBar.tpl” file (template) to your Metatrader Directory …/templates /
- Start or restart your Metatrader Client.
- Select Chart and Timeframe where you want to test your forex system.
- Right-click on your trading chart and hover on “Template”.
- Move right to select “TraderVersity-BBGimmeeBar” trading system and strategy.
- You will see the “Bollinger Bands Gimmee Bar” trading system is available on your Chart.
- Bollinger Bands are a great indicator with many advantages, but unfortunately many traders don’t know how to use this amazing indicator.
- Bollinger Bands consist of three components: (1). A simple moving average (2). TWO standard deviations of this moving average (known as the Upper and Lower Bollinger Band).
- Prices falling within a trading range.
- Price must tag the lower Bollinger Band.
- Wait for a bar that closes higher than open (This is the Bollinger Bands Breakout-Reversal Price Action pattern).
- Buy one tick above the “Bollinger Bands Breakout-Reversal” Bar.
- Prices rising within a trading range.
- Price must tag the upper Bollinger Band.
- Wait for a bar that closes lower than open or the “Bollinger Bands Breakout-Reversal” Bar.
- Sell one tick below the “Bollinger Bands Breakout-Reversal” Bar.
How do you apply this “wonderful strategy” to your trading without risking your trading capital? Don’t forget, always start with a demo account. It is the best way to learn a new trading strategy without losing money.