It will be a lot of buying at 1.3400 or a bit lower, do not hurry to go down on EU. Just my feeling.... 
Have good trades !
Have good trades !
Scalpeur journal, scalping the bollinger band
- #65
- Nov 4, 2013 6:20pm Nov 4, 2013 6:20pm
- | Commercial User | Joined Mar 2012 | 1,455 Posts
Confluence here means - Meeting of two Bollinger Bands
A confluence can be called as meeting of 2 or more events at a single place. When 2 or more events meet at a particular area, it attracts huge number of participants and generates big force in the form of big orders. At this point human traders and robot traders enter trades.
Trading the best confluence areas can change a trader's life forever. If we can master it...........
XAU/USD 5 min counter-trend scalp entry:
This is from my trading experience: How to spot trend reversal with help of Bollinger Bands
See Short term downtrend from A 1 - 2 - 3
Do not enter long till trendline is broken and price trades below 360 Bollinger Band (BB), penetrates 100 BB or closed below those bands. That signals strong trend down.
4 price closed inside of 20 Bollinger band, that signals reversal
3 - 4 is a double bottom and two bollinger band confluence on 5 min chart.
5 can see higher low and only 2 red candles down. Price did not go to lower band but made white candles up.
6 enter long, when price moves in upper part of the Bollinger band 20. Can see that 20 EMA (purple moving average and 20 BB changes direction from flat to pointing up. All lower part indicators pointing up. 20 BB is inside of the 100 BB. It all signals reversal. At least for short time.
Take profit on first red candle or when price comes to Green mid band 100. It is also completed cup pattern
Stop loss is below red candle 5 for short scalping
To hold that trade longer stop loss should be below 4
I also watched 15 min chart. All indicators have to show oversold and to point upper direction before you enter long
----------------
Tools used:
Heiken ashi candles
Bollinger Band (BB) 100 Green
BB 360 Brown
BB 20 Deviations 2 Grey
BB 20 Deviations 1 Grey dotted
EMA 20 (Purple)
Bottom indicators for 1 and 5 min chart
MACD 12, 26, 9
MTF stochastic 5 min settings 9,3,3 Yellow
MTF stochastic 15 min settings 9,3,3 Brown
it is good when all indicators are in one window and all showing one direction
I was trying to use simple English for non English readers, hope it helps
A confluence can be called as meeting of 2 or more events at a single place. When 2 or more events meet at a particular area, it attracts huge number of participants and generates big force in the form of big orders. At this point human traders and robot traders enter trades.
Trading the best confluence areas can change a trader's life forever. If we can master it...........
XAU/USD 5 min counter-trend scalp entry:
This is from my trading experience: How to spot trend reversal with help of Bollinger Bands
See Short term downtrend from A 1 - 2 - 3
Do not enter long till trendline is broken and price trades below 360 Bollinger Band (BB), penetrates 100 BB or closed below those bands. That signals strong trend down.
4 price closed inside of 20 Bollinger band, that signals reversal
3 - 4 is a double bottom and two bollinger band confluence on 5 min chart.
5 can see higher low and only 2 red candles down. Price did not go to lower band but made white candles up.
6 enter long, when price moves in upper part of the Bollinger band 20. Can see that 20 EMA (purple moving average and 20 BB changes direction from flat to pointing up. All lower part indicators pointing up. 20 BB is inside of the 100 BB. It all signals reversal. At least for short time.
Take profit on first red candle or when price comes to Green mid band 100. It is also completed cup pattern
Stop loss is below red candle 5 for short scalping
To hold that trade longer stop loss should be below 4
I also watched 15 min chart. All indicators have to show oversold and to point upper direction before you enter long
----------------
Tools used:
Heiken ashi candles
Bollinger Band (BB) 100 Green
BB 360 Brown
BB 20 Deviations 2 Grey
BB 20 Deviations 1 Grey dotted
EMA 20 (Purple)
Bottom indicators for 1 and 5 min chart
MACD 12, 26, 9
MTF stochastic 5 min settings 9,3,3 Yellow
MTF stochastic 15 min settings 9,3,3 Brown
it is good when all indicators are in one window and all showing one direction
I was trying to use simple English for non English readers, hope it helps
- #67
- Edited 10:37pm Nov 4, 2013 10:15pm | Edited 10:37pm
- Joined Jan 2013 | Status: Trader | 1,410 Posts
Confluence here means - Meeting of two Bollinger Bands A confluence can be called as meeting of 2 or more events at a single place. When 2 or more events meet at a particular area, it attracts huge number of participants and generates big force in the form of big orders. At this point human traders and robot traders enter trades. Trading the best confluence areas can change a trader's life forever. If we can master it...........
Even though I walk through the darkest valley, I will fear no evil
- #71
- Nov 7, 2013 6:31am Nov 7, 2013 6:31am
- Joined Jan 2013 | Status: Trader | 1,410 Posts
Even though I walk through the darkest valley, I will fear no evil
- #72
- Nov 7, 2013 10:29am Nov 7, 2013 10:29am
- | Joined Jul 2010 | Status: Trader | 1,319 Posts
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
- #73
- Nov 7, 2013 12:07pm Nov 7, 2013 12:07pm
- | Commercial User | Joined Mar 2012 | 1,455 Posts
{quote} I understand, but confluence is pretty simple, it can be used only with BB, confluence it is when two BB mat in one place, white circle on the chart. And don't use all that mtf indi, pick one or two indicators to show you direction, and follow the price. {image}
I like to see indicators, that give me view of two time frames. Then i do not make mistake for entry. All bands are very flexible, they move and change direction (I mean on 1 and 5 Min time frames) It is also important to see trendline brake. If its not broken, price may continue through the band.
The best, if you have confluence of bands, indicators and fundamentals, then it works
- #74
- Nov 7, 2013 1:17pm Nov 7, 2013 1:17pm
- | Commercial User | Joined Mar 2012 | 1,455 Posts
I will be testing this trade on daily chart, will see if it works. USD/CAD Long
- #75
- Edited 2:27pm Nov 7, 2013 2:02pm | Edited 2:27pm
- Joined Jan 2013 | Status: Trader | 1,410 Posts
{quote} Whatever works for you, use indicators, that works for you. I like to see indicators, that give me view of two time frames. Then i do not make mistake for entry. All bands are very flexible, they move and change direction (I mean on 1 and 5 Min time frames) It is also important to see trendline brake. If its not broken, price may continue through the band. The best, if you have confluence of bands, indicators and fundamentals, then it works
About fundamentals, can't find the point of fundamentals in the market, in long term daily or weekly it does make sense, but if you go lower time frame like you go M1 and M5, it doesn't have matter. No offense
Even though I walk through the darkest valley, I will fear no evil
- #76
- Nov 7, 2013 2:17pm Nov 7, 2013 2:17pm
- Joined Jan 2013 | Status: Trader | 1,410 Posts
Even though I walk through the darkest valley, I will fear no evil
- #77
- Nov 7, 2013 4:34pm Nov 7, 2013 4:34pm
- | Commercial User | Joined Mar 2012 | 1,455 Posts
{quote} That is your choice. Have pretty much the same chart as Scalpeur, I am using it from first day, had a good teacher or mentor (fancy word) who gave it to me. Trend line is not important, used it on the begging, it doen't make a difference if you understand this method, follow direction of the band.
Thats good it is working for you as well.
I like original Bollinger bands, not sure about TMA, have to try it, never used it before.
What settings I should use for this method ?
Good luck to everybody !
- #79
- Nov 10, 2013 4:09pm Nov 10, 2013 4:09pm
- | Commercial User | Joined Mar 2012 | 1,455 Posts
Comparing two charts. Multi TMA and Multiple Moving Averages. Looks like your TMA Bands collection could be a Guppy traders dream. The probability view of the opposite invisible side. Very interesting.
