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6# Bollinger Bands Reversal Trading System

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Time Frame's: 15min, 30 min, H1, H4 and Daily chart
Currency Pairs: any
Trading Indicators:

Bollinger Bands set to standard period 20 Deviations 2

Bollinger Bands set to standard period 20 Deviations 3

 

Long Entry Position:

Wait that the price is between Bollinger Bands 20 Deviation 2 and BB 20 Deviation 3

Wait 2 more bars will form, if the 2 bars each have closed higher prices go long.

Short entry Position:

Wait that the price is between Bollinger Bands 20 Deviation 2 and BB 20 Deviation 3

Wait 2 more bars will form, if the 2 bars each have closed lower prices go short.

 

Exit Position:

1)Stops are placed 5 pips behind the low or high of the bar 1;

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.