Double Bollinger Bands Strategy

[erebus]

E are you still using this? I've always used bands and heard about this but never actually heard from someone directly that this works? might have to try this out next week, looks easy enough to back test

Nah, just trading break outs now, around London session

 

[erebus]

Did I miss something? What is the BB with Deviation-2 used for?

Just having a look back at this while the market is so quiet, probably another 10 days yet.

I realized the proper answer is the Bollinger 2 is simply there to keep an eye on price. Bollinger 2 is the regular default setting for B/Bands.

The inner BB is deviation 1 for entries. I might add this to my chart for extra confirmation of other price levels, for instance, this 1-hour chart of AUDUSD

It was a short 4-day week with New Years Friday but still managed to break last week's high, the Mon Tue high, with confirmation of the Double BB.

I have the Bollinger Band 1 hidden as it is represented by the dotted line made by the Stop indicator.

Even a late entry, using half the ADR of 33 pips, makes a 3 to 1 winner or 100 pips, see ya next year

 

[erebus]

I was in a EURAUD short on Thursday, but now looking at with the Double BB, may have stayed in longer

The great thing about DBB is the extra signals it gives when the price crosses the deviation 1 after a small retracement

See the arrow pointing to the Signal arrow, so many breakout levels there, easy 100 pips, possible 150

 

[erebus]

EURCAD, the most difficult pair to trade IMHO, almost looks easy with a signal on Wednesday and 2 more signals on Thursday, it offers an entry at 1.5650 having broken the previous day's low, and then goes on to break the Mon Tue low, heading for last week's low and beyond. Notice how it stalled at the ADR at 1.56, with 2 green candles, before continuing down to make a 165% range.

 

[erebus]

The first day of the year offers great opportunities, these pairs trade opposite

 

[erebus]

Wow, these are demo only, I discussed in the forum, looks like I need to endure just a little more pain to get a really successful trade with GBP, even on the demo it's hard, as you try to do what you would do in real account, e.g. cut the losers, let the winners run.

The signals on 4-hour were great but didn't expect that much pullback, very tired, cut the trades, sleep, and find the trend has continued.

Arrows point out current strong vs weak rating and the exit, so close to the turning point.

The other arrows point out dotted and solid magenta lines, they are yesterday low and last week low, typical levels for a retracement, I know right?

Moving on, next trade, next setup, what's the rule Boss? always protect yourself

 

[Jonathan W]

Hi erebus... do you know if there is a BB Stop_v2 for MT5

 

[erebus]

Yes, I know everything, enjoy

 

[erebus]

Missed a great entry on 15-Minutes GOLD, London session of course