396# Simple Scalping System Using Bollinger Bands
Bollinger bands Scalping System
Submit by Adrian 15/11/2013
In this simple scalping system the Bollinger bands are used as reversal signal but the trading system is trend following. Never trades befor the financial news.
Time Frame 5 min or higher
Currency pairs: for 5 min time frame and 15 min major, for other time frame all currency pair and markets.
Session London and New York.
Forex indicators:
Bollinger bands (20, 2);
Ema (2);
EMA (11);
EMA (21),
Buy
For long entry there are two condition:
First condition: wait that the price touch or break the lower band;
Second: Wait tha ema (2) is above EMA 11 amd EMA (21) and stochastic cross upward.
Sell
For long entry there are two condition:
First condition: wait that the price touch or break the upper band;
Second: Wait tha ema (2) is below EMA 11 amd EMA (21) and stochastic cross downward.
Exit position
time frame 5 min:
Profit target= EUR/USD 8 pips, GBP/USD 10 pips, AUD/USD 7 pips.
initial stop loss 15 -18 pips.
Simple scalping using Bollinger bands
Bollinger bands Scalping System
