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Bollingerbandstrategy

BTCUSDT Close of Day TradeMany Brokers have close of Day at 5 pm EST. At that close of day look to see where the day candle closed. If closed above the BB 1 band inside the range box then that new day should be bullish. If closed below the BB 1 band then that new day should be bearish. I have two Bollinger Band indicators on my chart. One has a deviation of 2 and the other has a deviation of 1. Day candles have been inside the Bollinger Band (BB) 1 bands which shows me a range box.
by Tradingstrategyguides
Crude Oil Continues Moving LowerCrude moved lower on Monday but ended the day in the middle of the daily range, unable to break through Friday's low of 46.74. Price also tested the weekly Pivot Point above at 48.13 but was not able to break above that mark. As long as crude trades below that Pivot Point, it indicateds that price wants to keep moving lower. The Heikin-Ashi chart showed a slowing of the downward movement with an inside candle today. However, the trend is still solidly red. If you like this post, please click the Like button, tell your friends, and re-Tweet! Disclaimer: This post is for educational purposes only. Trading is at your own risk.
NYMEX:CL1!Short
by GoldBands
Crude Tests Higher After Inv RPT but Falls Below Key LevelsCrude tested higher this morning after the weekly inventory report showed a bigger than projected sell-off of inventory. However, WTI Crude failed to maintain it's bullish run and ended the day below the 2 important key levels. Those levels are the 21 day moving average @ 48.41 and the monthly pivot @ 48.13. And while the Elliot Wave Oscillator has not yet crossed below the 0 line, the haDelta indicator has printed a new magenta dot which indicates a new downward wave is starting. This gives the confluence of 3 technical indications to support the move down to the 45 to 45.50 price area. Nice downtrend now on the Heikin-Ashi chart. If you like this post, please click the Like button, tell your friends, and re-Tweet! Disclaimer: This post is for educational purposes only. Trading is at your own risk.
NYMEX:CL1!Short
by GoldBands
Crude Oil Moves Down $1 but Fails to Close Below RangeCrude oil closed down $1 today. During the day, my first price target @ 48.36 was hit (I mentioned that in last night's post). Crude did hit a low of 47.73 but was unable to stay below the 48 price level, and in a something of show of strength, rebounded almost a dollar off the day's lows. The closing price of 47.73 was just 2 cents shy of the 21 day moving average. So while the late day rally did show signs of strength, the technical indicators are still showing a more bearish outlook. First, there's the haDelta which has just printed a new magenta dot. That indicates a high probability of another downward wave. Second, the EWO indicator has been moving down since May 25 and is close to a zero line cross. Third, the Heikin-Ashi candles are red and starting to show signs of a continued downward trend. The key levels right now are 21 day moving average and the Primary Pivot Point (orange lines). I've added the standard Pivot Point indicator to the chart and set the type to Fibonacci. The P level is currently at 48.13. A break below this level will increase the odds of a continued move down to the lower Bollinger Bands. Crude Oil inventories come out tomorrow at 11 am EST. This is on Thursday this week due to the Monday holiday in the US. There is also other news tomorrow morning including Jobless Claims at 8:30 am EST and ISM Manufacturing PMI at 10 am EST. Expect some news generated volatility and protect your trades accordingly. If you like this post, please click the Like button, tell your friends, and re-Tweet! Disclaimer: This post is for educational purposes only. Trading is at your own risk.
NYMEX:CL1!Short
by GoldBands
Gold is Range BoundHi all, I've just gotten back from my extended vacation. The precious metal is range bound and looks like it wants to move down before completing a move up to tag the upper Bollinger Band. The weakness is appearing in the haDelta indicator at the bottom of the chart. A magenta dot just printed which means that the smoothed delta SMA is crossing over the non-smoothed delta. And since this is the second magenta dot in the latest upswing, it does suggest the price will either consolidate or move down. The Heikin Ashi chart below is also showing a slowing of the uptrend. Let's see if we get some clarity over the next few days. In case you're wondering about the new yellow Bollinger Band, I was watching a video that John Bollinger had posted on YouTube and it that video he mentioned that one should try using Bollinger Bands of different periods. So I've added a new Bollinger Band (the yellow one) and set the period to 50. This creates some interesting technical levels with the 21 and 50 BBs crossing and interacting with each other. If you like this post, please click the Like button, tell your friends, and re-Tweet! Disclaimer: This post is for educational purposes only. Trading is at your own risk.
COMEX:GC1!Short
by GoldBands
Crude Oil is Range Bound But Looking to Hit Support AgainHi all, I've just gotten back from my extended vacation. Boy has there been a wild ride for crude, starting last Thursday. However, since then, crude has been stuck in the lower part of the range, which by the way, retraced to 38% of Thursday's range. Crude has already the 21 day moving average and it looks like it wants to test it again. If have a take profit order sitting at that 21 day moving average but will then let the rest of my position ride and see if price wants to break through and hit the lower Bollinger Band. I was listening to a video that John Bollinger had posted on YouTube and it that video he mentioned that one should try using Bollinger Bands of different periods. So I've added a new Bollinger Band (the yellow one) and set the period to 50. This creates some interesting technical levels with the 21 and 50 BBs crossing and interacting with each other. For instance, notice how now the 21 and 50 BBs are stacked at the lower end of the range. That makes the 45.50 price are a very interesting target! The Heikin Ashi chart is confirming that price is range bound and as you can see in the chart below, we've had a green doji followed by a red doji. Hopefully we will get more clarification from the Heikin Ashi in the days to come. If you like this post, please click the Like button, tell your friends, and re-Tweet! Disclaimer: This post is for educational purposes only. Trading is at your own risk.
NYMEX:CL1!Short
by GoldBands
Bitcoin - Long-Term on Kraken's ViewShowing firstly a new trend provided by Pitchfork . Summarize little bit, Pitchfork is all about to respect these zones (blue, green) and lines (median line, intersection between blue and green, and the extremity). So, if the market respect the trend given by this tool, this Pitchfork will be a great way to be followed. Notice that the price touches specially the median line (red), which is a line where the price continually attempt to return to this diagonal and test this region. Looking previously it is possible to see that with this configuration the median line is touched several times, which make this Pitchfork very reliable for the present moment. Bollinger Bands shows price within optimistic region. Moreover, it is showing a Bollinger Band strategy called Riding On The Band where basically this strategy will keep working until the next candle close completely inside of the band. When it happens this strategy will no longer be validated. Based on the trend made by the pointed yellow line it is possible to trace a Trend-Based Fibonacci Extension . So that, it is possible to estimate a target for those whom are already on a long-entry in this asset. A preliminary estimated target is the region where there is a Pivot , which indicate a possible resistance zone. Exponential Moving Average of 50 and 200 periods show super bullish trend and the markers R.S.I. and M.A.C.D. are not showing any signal of divergence until the present moment. However, it is possible to notice from R.S.I. that the price is in an overbought region, which is a clear indicative that the buying pressure is about to decrease and a correction is about to come. Nevertheless, M.A.C.D. still showing that there is more space for higher prices, and what show this is the fact that fast length (blue line) is a little bit spaced from slow length (orange line). To interact with the chart above, please click below on RELATED IDEAS. Looking-up it is visible that Ichimoku Cloud still showing that Bitcoin is in a bullish momentum, and as described above the Pivot R3 and R4, which represente support and resistance respectively, match pretty much with Trend-Based Fibonacci Extension that is given by the pointed yellow line.
KRAKEN:BTCUSDLong
by lc_parente
Crude Oil Breaks Through Support @ 47Crude Oil broke through support during the overnight session with a strong push down. Now would be an excellent time to book profits and move stops lower. I've added some new targets marked by the cyan horizontal lines. The next target @ 46.09 is the confluence of the red, lower Bollinger Band and the yellow Bollinger Band. The red BB is our standard one with the period set to 21. The yellow BB is a new one I added last night which is based on a longer period of 50. I added this after watching a video with John Bollinger where he said that interesting patterns emerge when you have multiple BBs set to different time periods. All this being said, crude is getting very oversold sold so their may be a pullback either now, the last hour before the market opens, or when the market actually does open. In any case, know your own tolerance for risk and trade your plan!
NYMEX:CL1!Short
by GoldBands
Crude Closes Down .57 After Inventory AnnouncementCrude Oil had another down day on Wednesday, declining sharply after the inventory report was released. You can see the sharp selloff on the 30 minute chart below. Attempts to buy up crude at discounted prices were meet with renewed selling. All the indicators on the chart are red and pointing down. As I am going on vacation Friday, I'm hoping for a tag of the 47 level tonight or tomorrow. The Heikin Ashi chart is clearly in a down trend. If you like this post, please click the Lick button, tell your friends, and re-Tweet! Disclaimer: This post is for educational purposes only. Trading is at your own risk.
NYMEX:CL1!Short
by GoldBands
Natural Gas Stalls, Bollinger Bands ContractIn a clear sign that Natural Gas is range bound, the Bollinger Bands have flattened out and are contracting. Yesterday's closing price was trapped between the 7 and 21 day moving averages and today it is trading slightly above them. Monday's tag of the cyan Bollinger Band (1.5 standard deviation) signaled a potential renewal of selling but the lack of follow through supports the idea that price will be range bound for the time being. If you like this post, please click the Lick button, tell your friends, and re-Tweet! Disclaimer: This post is for educational purposes only. Trading is at your own risk.
NYMEX:NG1!
by GoldBands
Gold Closes Lower, Dollar Strengthens on FOMC AnnoucementGold closed down almost 20 points today as the FOMC announced it would not raise the Fed interest rate in May but left a rate hike on the table for June. But regardless of that news, let's look at the technical aspects of the precious metal's chart. First, the tag of the lower Bollinger Band was what I've been discussing during this bear selloff began in Mid April. This is what I call the 'Coast to Coast' trade, moving from one end of the Bollinger Band to the other. Second, the haDelta indicator printed a magenta dot on Tuesday when the Delta crossed down under the smoother Delta average. This was a bearish signal and combined with the proximity of the lower Bollinger Band, gave statistical weight to holding onto a short position. Third, the Heikin-Ashi candles are in a long red downward trajectory. Although last week ended with 2 weak HA candles, the candles have become stronger the last 2 days which indicates a possible resumption of the sell-off. Now that the lower Bollinger Band has been hit, what is next? We need to watch price action over the next couple of days. If Gold is in an oversold state, then expect a correction to take place. This may result in some sideways action or in a sharp buying spurt. Or, there may be continued sell-off over the next couple of days. Watch the Heikin Ashi candles. If the trend is about to reverse, you will see Dojis and color changes. Also watch for a cross back over the 0 line of both the haDelta Indicator and Elliot Wave Oscillators. I will be out on vacation for the next couple of weeks so I wish all of you good luck trading and protect your profits! If you like this post, please click the Lick button, tell your friends, and re-Tweet! Disclaimer: This post is for educational purposes only. Trading is at your own risk.
COMEX:GC1!Short
by GoldBands
Crude Oil Trades to a Low of 47.35 Before Rebounding SharplyCrude Oil dropped off 1.5 dollars, sharply breaking through the previous pivot low @ 48.20. However, at the end of the day, on the heals of the EIA report that there was a bigger than expected draw on crude oil inventories, the price of crude rebounded to close @ 48.10. In spite of the retracement, I am still bearish on Crude and expect a drop down to the trend line and lower Bollinger Band @ 47.00. If you like this post, please click the Lick button, tell your friends, and re-Tweet! Disclaimer: This post is for educational purposes only. Trading is at your own risk.
NYMEX:CL1!Short
by GoldBands
2
Natural Gas Moves Lower, Closing under 21 Day Moving AverageNatural Gas moved lower on Tuesday, closing just under the 21 day moving average. In fact, it is smack in the middle of the 7 day and 21 day moving averages. A solid close under the 7 day moving average will put 3.00 clearly in our sights. We also have a change in the Heikin-Ashi candles, going red after Monday's red doji (see Heikin-Ashi chart below). We now need to see solid follow through to the downside. I've drawn a couple of yellow lines on the chart, representing 'Hidden Divergence'. This is different than regular divergence and it doesn't happen that often. But when it does, you should take notice. It indicates that there is a potential change of direction coming and that the current trend is exhausted. In Hidden Divergence, the oscillator moves in the direction of the trend but price does not follow. In this case, the Elliot Wave Oscillator moved higher but price did not. As I said, Hidden Divergence doesn't happen all that often. I had to go back to April 27, 2015 for another example in Natural Gas and I've included that chart example below. It shows that the oscillator moved lower but price did not. There was also confluence with price hitting the lower Bollinger Band at the same time. Price did change direction and moved higher leading to a profitable trade. Hidden Divergence and a close below the 21 day moving average are signs that a downward move is coming. If you like this post, please click the Lick button, tell your friends, and re-Tweet! Disclaimer: This post is for educational purposes only. Trading is at your own risk.
NYMEX:NG1!Short
by GoldBands
Gold Closed Slightly Lower after Tagging SupportGold closed slightly lower on Tuesday, down .4 points. In early morning trading, Gold had moved down and touched the lower cyan Bollinger Band, which is 1.5 Std Deviations from the 21 day mid point moving average. The rest of the day was subdued, as we await the next move. The haDelta indicator did print a new magenta dot which indicates that more downside movement is likely. This reverses the yellow, bullish, dot that was printed on Monday. In addition, the Heikin-Ashi candles remain red and the Elliot Wave Oscillator is also solid red. At this point, it is statistically probably that gold will continue moving down at least until it hits the lower red Bollinger Band. Tuesday's Heikin-Ashi candle was a good, strong red candle which was a very nice recovery from Monday's mixed candle that had wicks at both ends. If you like this post, please click the Lick button, tell your friends, and re-Tweet! Disclaimer: This post is for educational purposes only. Trading is at your own risk.
COMEX:GC1!Short
by GoldBands