BOLLINGER BANDS FOREX SCALPING STRATEGY

The Bollinger Bands scalping strategy can be used on all low spread forex pairs except
the exotic pairs. Let’s take a closer look how this works below:

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Strategy Rules:
Forex Indicators: Bollinger Bands indicator with standard 20,2,0 settings

Timeframe's: M5, M15 (optional)

Sessions: London and US

Currency Pairs: Any low spread forex pair (except exotic pairs)

Strategy Rules for Buy Trades

1) Bollinger Bands must slope up.

2) Go long when the price touches the middle BB band from above.

3) Set stop loss at the lower band or max 15 pips (whatever comes first).

4) Take profit at the upper band.

Strategy Rules for Sell Trades

1) Bollinger Bands must slope down.

2) Go short when the price touches the middle BB band from below.

3) Set stop loss at the upper band or max 15 pips (whatever comes first).

4) Take profit at the lower band.

Trade Example on EUR/USD Chart

Trade 1: Bands slope up >> long at 1.3981 (middle band).
Stop loss at the lower band or max 15 pips.

Closed at the upper band @ 1.3999 for 18 pips profit.

Trade 2: Bands slope down >> short at 1.3986 (middle band).

Stop loss at the lower band or max 15 pips.

Closed at the lower band @ 1.3971 for 15 pips profit.

Trade 3: Bands slope down >> short at 1.3982 (middle band).

Stop loss at the lower band or max 15 pips.

Closed at the lower band @ 1.3964 for 18 pips profit.

Trade 4: Bands slope down >> short at 1.3975 (middle band).

Stop loss at the lower band or max 15 pips.

Closed at the lower band @ 1.3958 for 17 pips profit.

Trade 5: Bands slope down >> short at 1.3965 (middle band).
Stop loss at the lower band or max 15 pips.

Closed at the lower band @ 1.3950 for 15 pips profit.

Trade 6: Bands slope down >> short at 1.3941 (middle band).

Stop loss at the lower band or max 15 pips.

Stopped out the at upper band @ 1.3950 for 9 pips loss.

Total Trading Results:

+74 pips in 6 hours of scalping the EUR/USD 5 min chart