255# Scalping with pattern 1-2-3- and Bollinger Bands

 

Scalping with pattern 1-2-3- and Bollinger bands is a forex scalping system based on the 1-2-3 pattern and bollinger bands indicator.

Time Frame 1min or 5 min.

Currency pairs: majors.

 

Indicators:

1-2-3 pattern,

Bollinger bands.

 

Once the indicators pattern1-2-3draws on your chart it's time to start paying close attention as a setup

is in progress.

We are waiting for the current price to hit the fibo level of 161.8. THATS IT! No other levels are used. Once 161.8 is hit in an uptrend place buy (or an a call). Once 161.8 is hit in a downtrend place a sell (or a put).

When price is approaching 161.8 and your sure a trade is coming, look at your

bbands for confirmation. If they are squeezing avoid the trade, if they are seperating, jump in.

On the 1 minute chart when price hits the 161.8 and bollinger bands confirm, this is a

breakout!

There are 2 pics to show you what a typical trade looks like.

 

For 5min time frame these are the rules:

Once 100 is hit in an uptrend place buy (or an a call). Once 100 is hit in a downtrend place a sell (or a put).

When price is approaching 100 and your sure a trade is coming, look at your

bbands for confirmation. If they are squeezing avoid the trade, if they are seperating, jump in.

On the 1 minute chart when price hits the 100 and bollinger bands confirm, this is a

breakout!

 


 

In the pictures Scalping with pattern 1-2-3- and Bollinger Bands in action.

1-2-3 Scalping with bollinger bands
1-2-3 Scalping with bollinger bands
1-2-3 Scalping with bollinger bands
1-2-3 Scalping with bollinger bands

 

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Write a comment

Comments: 3
  • #1

    Matthew O'Gorman (Thursday, 05 July 2018 13:43)

    Hello, looks interesting. Could you please explain again the exact rules please? Possibly break down the rules into points? I think I get the idea but still a little confused by the explanation.

  • #2

    Matthew O'Gorman (Thursday, 05 July 2018 13:47)

    Also, have you extensively back tested this strategy on the 1 minute time frame? How are the results?

  • #3

    Matthew O'Gorman (Thursday, 05 July 2018 14:18)

    Sorry to keep asking questions! When you say wait for price to hit the 100 or 161.8 fibo level, do you wait for the candle to close, or just a touch?

1-2-3 Scalping with Bollinger Bands
Scalping with pattern 1-2-3- and Bollinger bands is a forex scalping system based on the 1-2-3 pattern and bollinger bands indicator.
1-2-3 Scalping with BB.rar
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