5# Bollinger Bands, Pin Bar and Real MACD Trading System

Submit by Joy22 06/04/2011

 

Time Frame's: H4 and Daily chart and above 
Currency Pairs: any
Trading IndicatorsBollinger Bands set to standard period 20 Deviations 2 
Pattern: Pin Bar >> Pin Bar

 

Long Entry Position:


1) the price pair to be trading in the vicinity of the 
lower Bollinger Bands
2) The appearance of a bullish pin bar will confirm a buy trade when 
Real MACD is green;

 

Short Entry Position:

 

1) the price pair to be trading in the vicinity of the Upper Bollinger Bands
2) The appearance of a bearish pin bar will confirm a buy trade when 
Real MACD is red;

 

Exit Position:

 

1)stops are placed 5 pips behind the low or High of the pin bar.;

2) trailing Stop;

3) profit target: 60 pips EUR/USD, 70 pips GBP/USD 4H Time Frame, for Daily time frame 200pips EUR/USD , 250 pips GBP/USD (recommended);

4) When the price touches the middle band.


 

In the pictures below Bollinger Bands, Pin Bar and Real MACD Trading System in action.

 

Share your opinion, can help everyone to understand the forex strategy.

Write a comment

Comments: 0

Pin Bar Forex Strategies