Bollinger Band Bounce Strategy

Bollinger Bounce 

Set up charts with the following indicators

• 4 Hour Charts
• Bollinger Bands (20)
• 20 EMA (Blue)
• 8 EMA (Yellow)

SELL STOP ORDER when the following rules have been met.

1- The closed candle has touched the top of the Bollinger band line.

2- The candle high and low is at least 20 pips apart.

3- 8 EMA (yellow) is above the 20 EMA (blue).

4- The distance from the bottom of the closed candle to the 20 EMA is greater than the distance from the candle to the top of Bollinger band line.

The entry point is 1 pip below the low of the candle

The stop loss is 1 pip above the high of the last candle.

The take profit is 1:1 risk to reward. (We need to be able to change this if needed)

The trade risk size is 5% of the Account balance. (We need to be able to change this if needed).

If the trade fails to trigger before the next candle closes then cancel trade. 

For a BUY STOP ORDER follow the opposite rules.