Thread: Trading the EUR/USD using the Bollinger Bands

This method uses multiple sets of Bollinger bands across multiple timeframes. Other technical indicators used are the CCI14, MACD, SSD, and RSI7.

Ah - thought you might!

You might want to have a word with Greg about your status - I ams ure you went Gold a while back, although they may have changed the rules as they dont publish them.

Look forward to reading your journal sir.

The price action of the current session is expected to hit the lower BB300 band currently around 1.21272. Tomorrow's bar could have a lower low but it is expected to start the sideways move to tag the Daily BB20 midline. If that happens, expect another pullback to print the ultimate low.

Originally Posted by Clivewaverider

Ah - thought you might!

You might want to have a word with Greg about your status - I ams ure you went Gold a while back, although they may have changed the rules as they dont publish them.

Look forward to reading your journal sir.

It's like trading. Adjustments have to be made all the time.

I'm glad you appreciate my work. It takes an experience trader to recognize how much work is put in in order to come up with a good analysis. I base that analysis solely on the charts without any consideration for fundamentals which are prone to be disjointed and incomplete. The newbies don't understand and I no longer care to spoon fed them. As far as humility goes, false humility is a pain in the butt. I prefer honest enjoyment when things work out as planned. It took decades of daily chart reading to get to this level, why not enjoy the results.

Originally Posted by Clivewaverider

Ah - thought you might!

You might want to have a word with Greg about your status - I ams ure you went Gold a while back, although they may have changed the rules as they dont publish them.

Look forward to reading your journal sir.

I think it is because I did not bother to fill in the 'About me' information, that my status won't update. Talent recognizes talent. You don't need that status to figure out if I know my stuff or not.

Originally Posted by rcopadilla

It's like trading. Adjustments have to be made all the time.

I'm glad you appreciate my work. It takes an experience trader to recognize how much work is put in in order to come up with a good analysis. I base that analysis solely on the charts without any consideration for fundamentals which are prone to be disjointed and incomplete. The newbies don't understand and I no longer care to spoon fed them. As far as humility goes, false humility is a pain in the butt. I prefer honest enjoyment when things work out as planned. It took decades of daily chart reading to get to this level, why not enjoy the results.

Yes indeed; agreed.

Well done RCO... I like this thread

Like I said, Talent recognizes talent. With some newbies, it would be like casting pearls before swine.

I think Midas must have gotten hurt doing his shorting throughout this week while I kept posting with an up bias. He got aggravated and wanted me to get hurt when the market tanked. Unfortunately for him, I made an adjustment to the bear side and now he resents me even more. Some people are like that.

Originally Posted by Spyros

Well done RCO... I like this thread

We got to S1, then S2 and are now working on the Beyond part. I don't think we get to S3 but we should close at the lows of the day around the lower BB300(1.2127).

Originally Posted by rcopadilla

The price action of the current session is expected to hit the lower BB300 band currently around 1.21272. Tomorrow's bar could have a lower low but it is expected to start the sideways move to tag the Daily BB20 midline. If that happens, expect another pullback to print the ultimate low.

Originally Posted by rcopadilla

Like I said, Talent recognizes talent. With some newbies, it would be like casting pearls before swine.

I think Midas must have gotten hurt doing his shorting throughout this week while I kept posting with an up bias. He got aggravated and wanted me to get hurt when the market tanked. Unfortunately for him, I made an adjustment to the bear side and now he resents me even more. Some people are like that.

"Talent recognizes talent". It is the first time someone call me talent. Thanks RCO...when you have time come & visit my Journal at http://forexforums.dailyfx.com/my-tr...ing-plans.html (EUR/USD TRADING PLANS)

Originally Posted by rcopadilla

Like I said, Talent recognizes talent. With some newbies, it would be like casting pearls before swine.

I think Midas must have gotten hurt doing his shorting throughout this week while I kept posting with an up bias. He got aggravated and wanted me to get hurt when the market tanked. Unfortunately for him, I made an adjustment to the bear side and now he resents me even more. Some people are like that.

Well rcopadilla, yesterday i i really just watched and took things in. did not feel confident with situation apart from your analysis of the trend, even though i could see it in front of me. i just want to say thank you and glad you set up your own journal as the noise gets confusing sometimes.

Have great weekend.
Newbie.

Today's low target is expected to be around the 4H lower BB600 (1.21269). That correlates well with the Daily lower BB300. Tomorrow's low target would be near the Daily lower BB20 (1.20872). It could go as low as the 4H BB100 (1.2065). That low should provide for a good long entry.

Originally Posted by rcopadilla

We got to S1, then S2 and are now working on the Beyond part. I don't think we get to S3 but we should close at the lows of the day around the lower BB300(1.2127).

the price action reaches that area. Kinda tired so I am only trading with the trend the rest of the day.

It could be that today's low is already printed with the lower low happening on Sunday. The low could be retraced all the back only to drop again on Monday to a lower low that will be for a multiday long entry.

Originally Posted by rcopadilla

Today's low target is expected to be around the 4H lower BB600 (1.21269). That correlates well with the Daily lower BB300. Tomorrow's low target would be near the Daily lower BB20 (1.20872). It could go as low as the 4H BB100 (1.2065). That low should provide for a good long entry.

In a downtrend, a bounce up to tag the upper BB20 does not last very long. Just one or two bars at the upper band, then back down to the lower band. Once the price gets back down to the lower band, it tends to stay there for many more bars than it did at the upper band.

The 8Hour chart shows the 1 bar touch at the upper BB20 that occurred yesterday. The last bar today was able to tag the BB20 lower band for the first of many more touches. It would be logical to expect the price action to hug the lower band for many more bars as fresh lows are made. Any bounce up at this stage of the down cycle will likely be faded.
The SSD indicator shows the strength of the downtrend. The cross under that usually confirms the start of the down cycle occurred below (instead of above) the 80 level (a sign of price weakness and downtrend strength).
Another sign of price weakness is the MACD cross under of its signal line below the zero level. Crossunders normally occur above the zero line, cross overs above.
Downside targets would be the lower BB300 (1.2122 and dropping) and then the lower BB60 (1.20837 and dropping).

When another up cycle occurs, expect a SSD crossover to occur below the 20 level, after an extended stay in the oversold zone (below the 20 level). The price will also start rising above some of the lower Bollinger bands.
For now the immediate course of action is to go below those lower bands.