7# Bollinger Bands Trend Trading System
Submit by Forexstrategiesresources
Time Frame 15 or higher.
Bollinger Bands (20,3.),
This system is very simple, and uses bollinger bands and support and resistance provided by those bands to get early entries and exits.
When the Pair is in trend, either bull or bear, the middle line of the bollinger band will be point up or down accordingly. So in the trend market we will be using retracement back to the center line for entries.
Long Entry Position:
Once price touches (or nearly touches) the center line and it is >of EMA 50 we enter as soon as the candle breaks the high.
Short Entry Position:
Once price touches (or nearly touches) the center line and it is <of EMA 50 we enter as soon as the candle breaks the low of the previous bar.
1)Stops are placed 5 pips behind the middle line;
2) Trailing Stop;
3) Profit Target:4H Time Frame, 60 pips EUR/USD, 70 pips GBP/USD , for Daily time frame 200pips EUR/USD , 250 pips GBP/USD (recommended);
4) When the price touches the upper or the lower band.
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