5# Bollinger Bands, Pin Bar and Real MACD Trading System
Submit by Joy22 06/04/2011
Time Frame's: H4 and Daily chart and above
Currency Pairs: any
Trading Indicators: Bollinger Bands set to standard period 20 Deviations 2
Pattern: Pin Bar >> Pin Bar
Long Entry Position:
1) the price pair to be trading in the vicinity of the lower Bollinger
Bands.
2) The appearance of a bullish pin bar will confirm a buy trade when Real MACD is green;
Short Entry Position:
1) the price pair to be trading in the vicinity of
the Upper Bollinger Bands.
2) The appearance of a bearish pin bar will confirm a buy trade when Real MACD is red;
Exit Position:
1)stops are placed 5 pips behind the low or High of the pin bar.;
2) trailing Stop;
3) profit target: 60 pips EUR/USD, 70 pips GBP/USD 4H Time Frame, for Daily time frame 200pips EUR/USD , 250 pips GBP/USD (recommended);
4) When the price touches the middle band.
In the pictures below Bollinger Bands, Pin Bar and Real MACD Trading System in action.
Share your opinion, can help everyone to understand the forex strategy.
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