Main photo Bollinger Bands Strategy

Bollinger Bands Strategy

  • By Chris Moris
  • 3131 views

Strategy with the use of Bollinger Bands indicator for the currency pair GBP/JPY

Recommended timeframes M1

This strategy is based on the use of the technical indicator Bollinger bands with different periods of deviation in the settings on the chart with the period M1 for the currency pair GBP/JPY. The best trading time period with the use of this strategy is London, European or American session. Choose deviation of 2, 3 and 4 for each band in the settings of the indicator.

 As soon as the chart is set for the trading position, we will follow the following instructions:

The conditions described below and shown on Fig.1 will act as a signal to open long positions (Fig 1):

- The price has reached the bottom line of the indicator with the deviation 2 (red line of the indicator on the fig.), or the price is traded between the lines of the indicator with the deviation of 2 and 3 (red and blue lines on the fig.)

Stop Loss is set 2 points below the nearest low of price or upon your own discretion.  

Take Profit is set 15 points above the opening price or upon your own discretion.  


Fig.1 On the chart with the period M1 marked signals for opening long positions satisfy the conditions of the trading strategy

The conditions described below and shown on Fig.2 will act as a signal to open short positions (Fig 2):

- The price has reached the upper line of the indicator with the deviation 2 (red line of the indicator on the fig.), or the price is traded between the upper lines of the indicator with the deviation of 2 and 3 (red and blue lines on the fig.)

Stop Loss is set 2 points above the nearest high of price or upon your own discretion.  

Take Profit is set 15 points below the opening price or upon your own discretion.  

Fig.1 On the chart with the period M1 marked signals for opening short positions satisfy the conditions of the trading strategy.


Chris Moris
Chris Moris

Risk Warning: Trading on Forex and Binary Options carries a high level of risk and it is not suitable for all investors.There is always a possibility of losing some or all of your initial investment, so you should not invest money which you can't afford to lose.Eventhough we Forex Stock Exchange Forum -fxsforexsrbijaforum.com,does not provide any investment advice you should be aware of the risks involved. Any opinions, news, research, analyzes, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice.Forex Stock Exchange FORUM will not accept liability for any losses, which may arise directly or indirectly from use of information from our website.You trade at your own risk!

Recommended publications