Bollinger Bands Trading Strategy With Two Trade Setups
Bollinger Bands Trading Strategy With Trade Setups
In this Forex trading vlog, I share two trades I entered recently. The first is on EUR/AUD and the second on USD/SGD. The setups are the same (a reversal Bollinger Bands trading strategy I use). Vlog #198.
The main idea in that trading strategy is to look for trades at major zones on the charts. Normally, reversal trades setup have a low win rate.
In fact, once the price of a currency pair is trending. It likely keeps going through reversal setups. However, by taking the trades occurring at major levels only, traders can ensure to have a higher level of confluence.
And although support and resistance zones can be tricky to identify at first, you'll get to develop a consistent way to draw them on your chart.
I'd much rather not trade when things aren't clear on the chart than trade and regret it. That's the primary reason why I only take setups that happen at zones on the chart that are easy to spot.
Interested in that trading strategy? Here are a few additional resources to get you started:
Watch: Making Money With The Bollinger Bands (an old, but quite an in-depth video on my main trading strategy)
Have you ever experimented with a similar strategy or a better variation? Comment below and let me know!
If you are aspiring to Forex but wonder how to put together a solid trading plan, I recommend you grab my FREE One-Page Trading Plan Template. It will help you simplify your trading strategy on a single page!