15min B.Band/macd set up with 4hr S+R

Below is our set up. We mainly look at the eur/usd and gbp/usd. This set up is the result of my friend Andy learning about bollinger bands on babypips the one day and macd the next. He simply threw them on his charts to have a look at them and then discovered how well they complement each other. All I have done is add the 4hr lines where price has turned in the past. We are just playing at the moment with pennies and so this set up is likely to evolve over time.

On a 4hr chart-place horizontal lines at turning points. these are permanent lines so save them once placed and check every morning for new ones to add. zoom down to the 15min. add Bollinger Bands and leave default setting as it is. Add macd 12/26/9. I use Oanda and only have one choice of macd. If using metatrader find one with MA crossovers on it.

We look for price to close above or below the middle B. band and a cross of the macd ma. We take into consideration where price is in relation to the 4hr S+R lines and also look for candle stick action to help with our decision to trade.

This journal is for us to discuss, trade and improve this system. Please feel free to read and add any suggestions that may be helpfull. SL and TP are not set in stone at this point. We are however looking to risk little and gain 2+ times our risk.

OK, just gone short. eur/usd 3 lots



Price could not get through the 4hr support line. it dropped and settled under the middle bollinger band and macd ma crossed over.

Interesting simple system will follow along

Ok, price finally penetrated the support line at 1.4100. I cashed in 1 lot here at about +14ish pips. my next TP is at the next support line at 1.40661. If price breaks down further I will have 1 lot left to target 1.40151 for 100 pips. But hey, lets not get ahead of ourselves as price may spike back up at me in sec! Tightening up my stop a little but not going to move to break even until price moves away from 1.4100.



#Just moved to BE as that last candle was a worry. hopefully we will see price plumit instead of taking me out. time for a cuppa now trade is safe and bagged a couple of quid.

##Out at BE for remaing lots.

Its looking like a long signal will crop up very soon however, i am going to resist entering for a bit as price very close to 4hr resistance

Another failed attempt at breaking support plus we can see divergence with the macd and price. i think the next short signal will be a good one. trouble is i may not have time to trade it doh!

Resistance broken so i have gone long. TP at 1.4200.
BB and macd suggested trade earlier but i wanted to wait to see if res. would hold or not.




##bailed at +20 pips as run out of time to trade today.

could of done things a little better today and the pull backs to the middle B.band look interesting for possible better entries. Not too bad though as up 34 pips today in total. May poss get to trade again tue and thur eve but that prob it for this week.

just had a little peek at the charts and found a perfect set up to go short. so, in short on the eur/usd. @1.41814. targets @ 1.4150, 1.4100 and 1.40663


##Took +40 pips on this but have to admit to widening my stop a little. I guess it was luck rather than a good trade.

Just entered short on eur/usd @1.41876
price settled under 1.4200 and broke down and settled under middle b.band and we had a macd cross. target is 1.4150 but may bail if price looks like it not going to make it. on a comp where i cant take pics of my trades at mo.

#moved to BE as price looks jumpy. forgot to check on news. will do now! lol
##just sold 1 lot at +20 pips. I will sell another if price reaches 1.4150 and that will leave me one more to play with.

###just sold a second lot at +21 pips. price just missed my level of 1.4150 and is now looking like it wants to go the other way so thought i would take some profit. Also its news time at 14.00 which is just a candle away so best to be safe. have left one last lot at BE just in case it should shoot south.

####ha! typical, price just hit my tagret line. missed out on an extra 17 pips on the last lot. still got one last one thought so lets see where price is going to take me!

####Ok ended my last lot at +54 pips. price may plumit down another couple of hundred but hey, 54 pips is still great. plus i got two other take profits of +20 and +21 on the way. news time so not worth watching it all disapeare in a sudden spike. ok, so im a coward! lol

Its prob not the best time of day to enter but set up was there and i finally managed to get to my computer for first time in ages!




SL is 10 pips
TP is 30

cant watch this for long so will check on it later or tomo.

Hi Iak
I saw you have colors for 2-lines MACD?
Can you share it?
In fact I am looking for colors for 1-line MACD.
Do you have the source to share?
Thank you.

Just to add: I do like to trade with B Band, I am still picking up this indicator.