5 min Scalping GBP USD with Bollinger Bands ~ forex trading hours philippines
5 min scalping GBP/USD with bollinger bands is trading method based on the bands thar are used for to identify the trades. Long trades are taken when market prices touch the bottom band;
short trades are taken when market prices touch the upper band.
Currency Pairs: GBP/USD, (best), EUR/USD, AUD/USD, USD/CHF, AUD/JPY, USD/JPY
Time Frame 5 min
Trading Sessions: all
Forex Indicators:
Bollinger bands (20, 2)
RSI (9)
Do not Trade before news economic.
Long Trade Setup
Here are the steps to execute a long trade using the trading system
1. Wait for the market to touch the lower band of the Bollinger Bands.
2. Enter for a long when the market price touches the lower or broken band of the
Bollinger Bands and RSI is in oversold zone.
3. Set the stop loss at 10 pips below the entry price.
4. Set the profit target at 5 pips above the entry price.
Short Trade Setup
1. Wait for the market to touch the upper band of the Bollinger Bands.
2. Enter for a short when the market touches or broken the upper band of the
Bollinger Bands and RSI is in overbought zone.
3. Set the stop loss at 10 pips above the entry price.
4. Set the profi t target at 5 pips below the entry price.
The risk for trade is 10 pips, and the reward is 5 pips. The risk to
reward ratio is 2:1, which yields us a 1.5% return if we take a 3% risk.
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5 min Scalping GBP/USD with Bollinger Bands |
5 min Scalping GBP/USD with Bollinger Bands quiz
5 min Scalping with Bollinger Bands Quiz
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