BOIL- Premarket Long Trade Scalp Recaps

BOIL is here on the 15- minute chart with a set of Bollinger Bands, a Bollinger Band Oscillator by

LuxAlgo as well as a dual-time frame RSI indicator by Chris Moody. The settings for the Bollinger

Band set up are period 49 EMA 14 standard deviations 2 /2.618 ( These are multiples of 7 and

Fib #s for mathematical reasons.

Entries are signal is price crossing the base line of the Bollinger Bands ( the EMA 14) or else

the RSI lines crossing over the 50 level and green above red.

Exits are the price action going outside the outer upper BB band and then fading back inside

of both inner and outer bands or RSI green and red crossing such that green fades quicker than

red. Entries and exits are managed with alerts/notifications to minimize screen time.

The first trade began on 2/27 at 8:10 AM ended 2hours later. 50 shares taken gained $ 1.50 each

for a total of $75.00 realized profit in the long scalp. The second trade on 2/28 was

taken in the premarket at 6:45 AM EST with again 50 shares taken then closed at 9:15 AM

for a 150 minute trade. Realized profit was $1.20 per share and $60 overall.

Overall, there were 4.5 hours in the trades yielding $135.00 or $30 hr for the time in the trade.

Risk was minimal as trades were taken at the lows with a stop loss outside the BB and below

them. Time spent on the screen amounted to less than 30 minutes overall making the

realized profit excellent for the time and effort expended. This idea illustrates good use

of a Bollinger Band strategy coupled with alerts and notifications. Notably, I did not spend

any effor adjusting the stop losses during the trade as I am very confident of the setup and

the strategy. Today is another day for the same trade.

Trade active:

After two days in a row of rising price action it was time for a correction. Two shorts
for intraday scalps averaging 30 minutes each and 3.7% each as linked here:

Trade active:

Today's scalp long trade here