Band(20 timeFrame :. The same is valid for the hammer reversal pattern that follows. However, it is less likely to produce a big price move. Forex market spends most of the time in consolidation. A stop loss order should be placed below the lowest point of the Tweezers chart pattern as shown on the image. The indicator consists of three lines and each of these could demonstrate support/resistance functions, however the double Bollinger Bands consisting of the upper and lower bands are usually better than the center line for this purpose. It leads to bigger and longer-term price trends.
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Forex trading strategy #11 (GBP/USD breakouts). Combining Bollinger Bands and the Elliott Waves, you increase the chances to trade corrective waves more than impulsive moves. Bollinger and the main purpose or the use of this indicator is to measure market volatility. This is a strong long signal occurring at the lower band, and thus creates a nice opportunity to buy the EUR/USD. K are 20 and 2, respectively. Just close the trade right away instead. If you decide that this signal is not persuasive enough, you can wait for a breakout in the 20-period Simple Moving Average, which comes 3 periods later. Example 1: Example 2: Method 2: No Trend Trading Sometimes, the market does not move up or down.