REVERSAL SETUP COMBINED WITH SQUEEZE:
Open=High candle broken
W pattern in bollinger band
Divergence in moment
TIGHT SQUEEZE
Let's see will hit 1:2 RR.
I'm just forward testing and sharing.
Not trade recommdation #Nifty50 #Finnifty #StockMarketindia
Trailed sl to cost now
Sl hit...
Loss-0 points
M reversal with divergence
But momentum is still bullish.
Will enter if trend shift happens in rsi
While trading reversals we are going against the trend...it needs contrarian type of trading mindset..
Totally messed up entry by waiting for bearish momentum which is trend trade...
If reversal entry taken properly 1:2rr achieved in ease.
Entry is important...don't confuse rules
Trail sl to cost
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Basics:
Bollinger bands are used to determine whether the price are high or low on relative basis.Bollinger bands use 20sma and 2 standard deviation of it.
I use three setup combined with RSI
1/n This bollinger system is suitable for intraday traders,swing traders and even for long term players.
Top down approach increases accuracy.
Only the timeframe changes ,system remains constant.
%b indicator and bollinger bandwidth can be used to code this system
2/n
BOLLINGER BAND SQUEEZE:
Squeeze setup makes us to enter the trend early on.
ENTRY:
Look for very tight/narrow bands. and enter the breakout/breakdown of the band(price closing outside of bands)