6# Bollinger Bands Reversal Trading System
Submit by Forexstrategiesresources
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.
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