9# Bollinger Bands and the Gimmees bars Trading System

Submit by janustrader 04/04/2011

 

Gimmee bars are an reversal bars that Take place once prices have reached the upper or lover bands in a sideways moving market.

Gimmee bars are bars that reverse price direction once prices have

touched the upper or lower bands. However, please note that this

must happen in conjunction with prices being overall in consolidation

(Trading Range).

 

GIMMEE BARS AT THE UPPER BAND

Once prices touch the upper band, the bar touching the upper band

or the very next bar may become designated as the Gimmee bar. All

that is required is the occurrence of a price bar which closes lower

than it opens.

Should such a price bar occur, a sell short order is to be executed

one tick below the low of the Gimmee bar.


The Gimmee bar in this example is

the one that touched the upper band.

What makes it the Gimmee bar is:

1. Prices were rising.

2. Prices touched the upper band.

3. The price bar closed lower than it

opened when prices were

previously rising.

A sell order should be placed one pip

below the low of the Gimmee bar.

 

 

 

 

GIMMEE BARS AT THE LOWER BAND

Once prices touch the lower band, the bar touching the lower band or the very next bar may become designated as the Gimmee bar.

 


All that is required is the occurrence of a price bar which closes higher than it opens.

 

Should such a price bar occur, a buy order is to be executed one tick above the high of the Gimmee bar.

The Gimmee bar in this example is the one

that touched the lower band. What makes it

the Gimmee bar is:

1. Prices were falling.

2. Prices touched the lower band.

3. The price bar closed higher than it opened

when prices were previously falling.

A buy order should be placed one tick above

the high of the Gimmee bar.

 

 

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