Price Action, Market Structure & Bollinger Band

Hi mate, how do you feel about this setup on AUDCAD. The first candle hasn’t broken out past the bottom band but the second candle has touched the bottom band and then formed an engulfing candle. Would you go for it? It’s looking tempting to me. The divergence is making it even more tempting. What do ya think?

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That certainly is tempting but personally I wouldn’t trade it as to me an engulfing pattern counter-trend isn’t enough of signal for me to enter. If it was me I’d need a bigrejection to the down side (bottom of the band) to go long here.

On top of that, volatility is dropping off as you can see the band coming closer together and your sinal is very close to the middle of the band.

Honestly I’d much rather see how it reacts to the middle of the band to go short or, even if it does make its way up to the top of the band, watch for rejection to go short with the trend.

But that’s just my 2 cents, don’t let it influence your trading decision too much. In the end you might be able to enter and exit earlier for a profit.

Goodluck!

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You’re one in a million! May you be rewarded greatly for your time, effort and dedication to this community.
I read the thread from the start to the last one, wow, what an amazing person you are, THANK U!
I’ll definitely try out the strategy, as i believe it will help to ease my burden with work and family…
Please, I’d greatly appreciate it if you could help me with the list of the pairs you trade with this strategy, as I’m fed up with GBPUSD especially… Thank you once again!

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Hi, thanks for the comment.

Most pairs have been moving very annoyingly for the last 6 months. So trading is difficult during these times with so much uncertainty going on in the market.

I have DM you the pairs :slight_smile:

Nice strategy, @Cloudninee - I’d like to test it myself, could you send me the pairs you monitor?

Thanks!

Thanks Cloud for your help! I can see that most pairs has no direction for now. Truly, patience is the name of the game lol

Hi Cloudninee. Some big moves on the dollar and yen pairs the last couple of days. Are you taking any of them? Seems a bit risky to me.

Hi Cloudninee,

Nice job you are doing here.

Please send the pairs to me too. Thank you.

Abol

Can you send me the currency pairs you trade please

Can you DM me your pairs please

Hej have read and followed this thread for a while and im currently trying the strategy on my demo and i like it a lot. Could you please send the pairs you trade?

Can you send me the pairs you trade please?

hi cloud,

can i get pair list aswell please

@Cloudninee how you doing with this strategy?

Anything changed? Any tips if it’s improved somehow? :slight_smile: