After long band walk, price finally closed below +1 standard deviation.
USD may started losing the strength against CAD.
I placed a Sell limit order at the 50% retracement of the Friday candle.
Let's see what will happen.
Today (21/9/2015) broke and closed below support level. BB-2SD (Bollinger Band -2 Standard Deviation) and 21SMA are pointing down, which is indicating that the market may go down, possibly shift to the down trend.
I am waiting for the rally to my sell zone (pink box on the chart) to sell.
Cable is in the rage for 4 months since May 2015. I am planning both short and long this week.
- Based on Weekly chart, I will consider to short in my "sell zone" (brown box on the chart)
- On 4hour chart, the candle is currently below BB1SD (Bollinger Band 1 Standard Deviation), which is indicating that the market may fall for a short term.
- Based on ...
The price fell into "A" zone. It closed below on 4 hour but 1.53400 level seems to have acted as support.
If the price closes above 21SMA (a blue moving average; bollinger middle band), I will look for a small retracement back into A zone to buy.
Support was broken this morning. I have already shorted and closed the position (TP line on the chart) to take a quick profit just before falling.
Now i am waiting for retracement to sell if the pattern is still valid for short.
Currently, 21SMA (blue moving average), also Bollinger Middle Band is acting as a strong support.
If the price close below 21SMA today, I may be interested in going short at retracement for a short term.
A very interesting pattern. I am looking for;
If the price breaks support and forms a good bearish candle, I am going to wait for retracement into my "Entry zone" to consider short.
If the price bounces off support and close above 21SMA (blue moving average), I will wait for retracement into my "Entry zone" to consider long.
Other market movement? I will ...
I sold this pair when the price closed below BB+1SD (Bollinger Band 1 Standard Deviation.)
My first target is BB-1SD (Bollinger Band -1 Standard Deviation) and my second is BB2SD.
Very simple trading strategies with bollinger bands.
Currently, the price was bouncing off 21SAM on daily. (Daily Bollinger Middle Band).
I shorted at market value. If today closes above 21SMA today, which will stop me out, then I will look for long @ retracement.
Let's see what will happen.
On 10 Sep, the price did not fall enough to reach my "buy zone" and reached my first target. (<a href="https://www.tradingview.com/chart/GBPUSD/JtLcxOz0-10-SEP-15-Still-looking-for-long-retracement/">https://www.tradingview.com/chart/GBPUSD/JtLcxOz0-10-SEP-15-Still-looking-for-long-retracement/</a>)
Now, I am waiting for both short & long opportunities.
If the price does not break above the blue level (where it was my first buy target), I am looking for short. In ...
Daily candle closed above BB-1SD (Bollinger Band -1 Standard Deviation) on 11 Sep. I am looking for long around 0,70200 - 0.7000 level.
These levels are confluence of;
- round number
- 4hour 21SMA (bollinger middle band)
- Daily BB-1SD
- Fib 50 - 61.8% level on Daily candle (not shown on the chart.)