LT - A reversal trade caught with the help of Bollinger bands
Note the following sequence of events here -
1. 3 continuous bear candles
2. The 3rd bear candle closing outside the lower Bollinger band
3. A bullish green candle opening higher & closing inside the Bollinger band accompanied by a strong historic demand zone
4. The bullish volumes are at least 3/4 the size of the last bar bear volume.
5. Lastly, the set up is accompanied by a Bullish divergence with RSI.
Target - 1550 / 1580
SL - 1450.
Note the following sequence of events here -
1. 3 continuous bear candles
2. The 3rd bear candle closing outside the lower Bollinger band
3. A bullish green candle opening higher & closing inside the Bollinger band accompanied by a strong historic demand zone
4. The bullish volumes are at least 3/4 the size of the last bar bear volume.
5. Lastly, the set up is accompanied by a Bullish divergence with RSI.
Target - 1550 / 1580
SL - 1450.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.