Gold

New week starts with some volatility on Asia. At first price was going sharply down, but then it rip up very fast.

Nice manipulation, nice try.

Asia starts with 13 trades, +179 pips.

Monday opening 2293 almost there.

Sell stop at 2312 ( not filled , keep it for now)
Sl : 2314.50
Tp : 2308

Your strategy match with Upper or lower BB candle close and confirm from any oscillator OB/OS/Divergence signal.

i confirm from currency strength indi. did you see.. sell tag on bid line. when appear i will sell if candle close above UPPER BB.. vice versa for buy..

i followed this strategy long back. now researching for solid..

waiting for 2318 resistance for 2324 and 2328 TP

can you give context about this strategy bhai?

Combining Bollinger Bands and RSI to Create a Profitable Trading Strategy

Different Ways Bollinger Bands can be Used
Developing a successful trading plan utilizing Bollinger Bands for stock trading involves various methods tailored to different trading preferences and market situations.
Utilizing Moving Average and Bollinger Bands Strategy: This method integrates Bollinger Bands with a 200 period Simple Moving Average (SMA). When the price surpasses the SMA, it signifies an upward trend, prompting traders to seek buying opportunities. Conversely, if the price falls below the SMA, it indicates a downtrend, favoring sell indications.
Bollinger Band Squeeze Tactic: This approach concentrates on the contraction of the bands, which typically indicates reduced volatility and foreshadows an imminent breakout. Once the bands expand again, it suggests the beginning of a new movement, presenting a chance to enter into a trade aligned with the breakout.
Following the Bands Approach: In contrast to the common misconception of selling when prices touch the upper band or buying at the lower band, this strategy proposes remaining in position as prices “walk” along the band during robust trends. This can be notably lucrative if sufficient leeway is provided for trades to evolve.
Price Action Strategy: This approach involves searching for a price to touch one of the Bollinger Band boundaries and then waiting for a Price Action signal such as a bullish reversal candlestick pattern if the price is near the lower band, signaling a possible upward movement.
Utilizing Bollinger Bands with the Relative Strength Index (RSI) can aid in identifying reversals more effectively. This strategy entails waiting for the RSI to indicate overbought or oversold conditions while ensuring that the price is beyond the Bollinger Bands before considering an entry.
The Snap Back to the Middle of the Bands Strategy takes a cautious stance by waiting for the market to rebound off the bands towards the middle line. It operates on the premise that prices usually return to average levels, aiming for trades with higher probabilities and lower risks.
For traders seeking minimal risk, trading within the bands range is ideal. This strategy involves buying when stocks test the lower band and selling as they approach the upper band. By combining Bollinger Bands with support and resistance levels, traders can improve their ability to identify potential market reversals. One approach is to wait for the price to move away from the middle band towards a support or resistance level while observing reversal candlestick patterns.
These methods showcase how Bollinger Bands can be used in various trading situations and styles. It’s crucial to note that no strategy can guarantee success, so traders should combine these techniques with proper risk management and additional technical analysis to improve their trading outcomes.
A trading Strategy Method using BB, RSI and the BB Squeeze

Utilizing Bollinger Bands and Moving Averages:

Buy Signal: Keep an eye out for the price positioning itself above a long term Moving Average (like the 20 SMA) to indicate a general uptrend. At the same time, look for instances where the price touches or breaks below the lower Bollinger Band, suggesting potential oversold conditions and a potential upward price movement.

Sell Signal: Note when the price falls below the long term Moving Average, signaling a downtrend. Watch for occasions when the price reaches or surpasses the upper Bollinger Band, indicating possible overbought conditions and an anticipated reversal or pullback.

Bollinger Band Squeeze Approach: This method centers on observing when the Bollinger Bands begin to narrow, indicating decreased volatility that often precedes a significant price shift. A squeeze occurs when the bands move closer together.


Entry Signal: Following a squeeze, breaking out above the upper Bollinger Band can signify a potential buy signal, while breaching below the lower band may indicate a sell signal. It’s essential to wait for a clear breakout to avoid false signals. Enhanced Confirmation with RSI Integration;
For improved accuracy in entry and exit points and minimizing false indications, incorporate the Relative Strength Index (RSI).
An RSI reading above 70 indicates that the market may be overbought, potentially signaling a sell opportunity when combined with a Bollinger Band breakout. Conversely, an RSI below 30 suggests oversold conditions, which could align with a buying opportunity during a Bollinger Band breakout.

Risk Management:
It is important to manage risk by strategically placing stop loss orders below or above your entry point (depending on whether you are going long or short) to limit potential losses. Additionally, consider using trailing stops to safeguard profits as a trade moves in your favor.
Backtesting and Adjustment:
Before applying this strategy in live trading, backtest it using historical data to evaluate its effectiveness and make any necessary tweaks.

Gold - 15min

Today's Support & Resistance on MT5 Templates

EURO
CABLE
GOLD


https://www.forexfactory.com/thread/...8#post14856928

Could be a final chance to take a loss as a boss. Even better if you have a small profit.
Wouldn't underestimate bear signal in small frames at this price range.

Hello Traders, hope weekend was fine .
Monday, my favorite day of the week,
Missed better price for short, will hedge this one on stop. Shorted 1:1RR
Trade safe and have a good trading week.

p.s.
Hedged after stop.

SELL STOP XAUUSD at 2316

TP 2314/2311/2306

SL 2332

today's move cannot be trusted till US joins the party. otherwise its a low liquidity move and US will either continue or clear this whole move

either 2332 is the next level for today or we have topped for the day and will likely test 2300

You need to rethink your Risk management...

Thanks for sharing!!!

Support1：2306.00
Support2：2292.00
Support3：2283.00
Long positions above 2306.00 with targets at 2328.00 & 2333.00 in extension
Resistance1：2328.00
Resistance2：2333.00
Resistance3：2347.00

He's right; statistically, over time, this is a losing formula RR-wise. It won't matter how good you are. Eventually, just normal market behavior will turn good trades into losses unless you adjust your RR. Cheers

as already mentioned..,
we can see today 2300th
or
imo, 2340th

2315-2320th probably would tell..,
trade safe
M15 with DPP, Classic&DeMark's, Sunday&Monday

charting with fxstreet
WPPs at 2300-2308th area have been printed..,

btw, there is no London today