BB break + trendline break

ok guys time for me to edit the title has expired so I will start a new thread that involves bollinger bands.

Here is an example of trades on the DEMO account I have placed last night. All winners only 1 loss.

I manually closed three trades with profit just now. because today is Friday.

I will explain the new method here and how and why I took the trades. But I will not have my computer until march 4. I will not be here.

So anyone can just post trades and add smart filters as they want.

I will try to monitor from my cell phone.

Dont worry about the X marks on the charts, they are nothing special.

They just show when the price is at an eXtreme.

In this case the indicator considers top and bottom bb extreme as well as 50% deviation of the bands as extreme as well.

But I dont use 50% deviations as extremes, only the top and bottom BB is extreme for me.

Here is the new system ( as I said I cant edit the title . So I will start a new thread when I come back from vacation if people are interested. Meanwhile just post your trade results and ideas here)


Timeframe :4hr only for now.

Currency pairs: Any

For buys (as you can see in the example chart)

When we have an extreme at top BB we wait for an extreme to occur at bottom BB.

for our purposes extreme= any time price pierces or comes within 5 pips of top or bottom bb.

We draw fibo retracement from top extreme to bottom extreme.

We than place a buy order at 23.6 fibo line
our stop loss is at 0.00 fibo line
our tp is 5 to 10 pips (this depends on the pair and spread) below the 50.0 fibo line
thats it.

After the top extreme, price creates a bottom extreme, at this point price could go up and trigger our entry or it could go down and create a new extreme below our first extreme. At this point we would just adjust the fibo retracement to the new extreme and change our entry, sl and tp.

First night of trades worked perfectly.

So just test it out and let me know tnx

Here is an example of failed and successfull trade in same chart.

In the failed example the price reaches 1:1 rr and 38.2 fibo before reversing and hitting sl.

So we can add a condition: either bring sl to break even at 38.2 or 1:1 rr or tp at those levels.

the second time price reaches 23.2 it goes through the roof though.

Alternative idea.

Same chart same time period.

We draw fibo from the first extreme above top BB to first extreme below bottom BB.

If price has closed between 0.00 and 23.2 fibo we place a pending order at 23.2 fibo
our sl at 0.00 fibo +spread+1 pips
our tp 1:2 rr

first chart shows that we place the fibo at first extreme below bottom BB, but the price is closed above 61.8 fib so no go.
second chart we place fibo at second extreme below the first extreme and price is below 23.2 so we place pending buy order at 23.2

As you can see when we draw fibo from the lower(first time price breaks above top bb) extreme it gives us a nice 1:2 reward.

I want to know the setting of BB. Thank you very much.