FREE FOREX STRATEGIES

Forex trading strategy #10 (H4 Bollinger Band Strategy)


Current strategy was submitted by Joe Chalhoub.
Thanks Joe, and happy trading to everyone!

H4 Bollinger Band Strategy

Tools : Bollinger Bands(20)
TimeFrame : H4
Currency : ALL

This strategy is extremely simple and I use it to detect opportunities and it is very good.

If you open an H4 EUR/JPY chart and you insert the Bollinger Bands(20) indicator, if you observe the chart you will see that the bands are simply a Resistance and Support. The Upper band is a Resistance and the Lower Band is a Support. If you pay attention to the chart you will see that most of time the price hit the upper band then it retraces back to Lower Band, so how I trade is very easy, I wait till the price touches let’s say the upper band and closes under it (not above it) and wait till the candle is formed, when it finishes and the next candle opens under the previous Upper band then I enter a Short trade with target = 100 pips or until it touches the Lower Band.

Same thing when it touches the Lower band and the candle closes above it, and the next candle opens above the previous Lower Band then I go Long with Target = Upper band or 100 pips. You can develop this strategy as I did, and you can profit a lot, I made more than 800 pips this month.

You can check my website for any further help http://rpchost.com . If you think in this technique and observe the chart I am sure you will develop this strategy quickly and make 99% winning trades.

Good Luck.
Joe Chalhoub



H4 Bollinger Band Strategy (Part II)

Tools : Bollinger Band(20)
TimeFrame : H4
Currency : ANY

This strategy is a continuation of the previous strategy I submitted before (Forex trading strategy #22 ).

This strategy is very simple, and you can find more details at Rpchost.com forex forum.

First open a currency (per example EUR/USD) and H4 timeframe, issue suitable breaklines from the bollinger band (visual examples are at rpchost.com forex forum), now wait till a candle breaks the breakLine. This break is not a trade signal we must have an extra confirmation, here come the role of the bollinger band.

look at the bollinger band upper and lower, if they are both opened which means upper band is UP and lower band is DOWN, then it is a confimation of a trade.

Good Luck.

Joe Chalhoub

Profile : http://www.rpchost.com/profile.aspx
free forex signal : http://www.rpchost.com/freeforexsignal.aspx
Economic Calendar : http://www.rpchost.com/economic-calendar.aspx
forex forum : http://rpchost.gooboards.com/



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DearJoe,
Can I get some free signals from your site,payment will be preferrable.
Best regards,

Ele

Nice one, indicators like BB are better on higher time frame:

Thanks,

James Ayetemimowa

Hi

I am wondering something about what you commented. (rt you will see that most of time the price hit the upper band then it retraces back to Lower Band, so how I trade is very easy, I wait till the price touches let’s say the upper band and closes under it (not above it) and wait till the candle is formed, when it finishes and the next candle opens under the previous Upper band then I enter a Short trade with target = 100 pips or until it touches the Lower Band.)

I do not understand by en it finishes and the next candle opens under the previous Upper band then I enter a Short trade with target. What do you mean by opens under the previous band? What happens if the price closes above the upper band and then it comes back into the band. Is it some indicator for entering a short trade?

Regards
Thomas

Dear Ele, I post free signals on my site, visit this link http://rpchost.com/FreeSignals.aspx , just register and then login to the free signals.
If you want to take full advantage of my signals become a member at this link : http://rpchost.com/RegisterContent.aspx

Good Luck

Dear Thomas;

I will explain it again, I will open the EURJPY currency on H4 timeframe. Now I see a candle is touching the upper Band the price is going above it then under it, I wait till this 4 hours candle is finished, if it (1- closes under the upper band and it didn't break it. 2- OR if it opens above the upperband and closes under it), so I consider the upper band is a Resistance and I short at the current closing candle, my Target will be the Lower band or 100 pips. It is simple.

This technique is the basic of my strategy, sure I use other things with it to confirm a trade, and it is very powerful, you can see its performance on my website : http://rpchost.com

Good Luck Thomas

Dear Joe,
Thank you for sharing your ideas with us.
What happens if the price breaks the upper band and continues upwards? is it a long signal?
Best Regards,
Gift

Not necessary it is not a constraint if it breaks the upper band it will stay there maybe the next candle it will colse under it or maybe it will continue up as EURJPY is doing now, what I do is the following: lets say that the price touches the lower band and it closes above it ok ? then I will do LONG with target the upper band, so if the price goes up and touches the upper band I will not exit directly I will wait till the 4 hours candle is formed and if I see it closes under the lower band I will exit immediatelly, if it closes above it I will wait the next candle if the next candle closes under the upper band I will exit if it stays above it I will reserve it. If you observe the chart very well you will discover alot of things, I encourage you to focus well on it.

I visited your site and noticed something on the posted results. You show your entry and target limit and S/L but your Limit is much smaller than your SL... Basically you are willing to risk say 50 pips of loss to gain 35 pips of gain. Isnt this a really horrible risk/gain ratio? most traders recommend a 2:1 or 3:1 gain/risk ratio.