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.
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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:
Read: Successful Price Action In 3 Steps
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 trade for other people while traveling, you might want to consider checking out the Desire To TRADE Academy where I’ll help you do precisely that!
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!