32# Inside Bar and Bollinger Bands Forex Trading System

Submit by Radical Trader 10/04/2012

Time Frame 15 min or higher.

Currency pairs all.

Indicators:

Bollinger Bands (20; 2),

Long Entry:

1. Look for the currency pair to hit or come very close to hitting the lower Bollinger (20,2)

2. Wait for next candle and make sure that the next candle's low is greater than or equal to the previous candle's low and that the high is also less than or equal to the previous period's high. If so, go long at the open of the third candle.

3. The initial stop is placed a few pips below the previous candle's low.

4. Trail stop on a closing basis with the 20-period SMA.

Short Entry:

1. Look for the currency pair to hit or come very close to hitting the upper Bollinger.

2. Wait for next candle and make sure that the next candle's high is less than or equal to the previous candle's high and that the low is also greater than or equal to the previous period's low. If so, go short at the open of the third candle.

3. The initial stop is placed a few pips above the previous candle's high.