Forex Secrets Income-Using Bollinger Bands in a Trending Strategy
One of the best forex indicators is Bollinger Bands. They are very simple to use, they are free, and they are extremely reliable. At just a glance, you can tell if the market is trending or stuck in a range. You can tell if the market has hit extreme prices or if it is about to explode. So I want to show you a simple trading strategy that relies heavily on Bollinger bands. And, oh yeah, it makes pretty good income from forex! Identifying a trending market with Bollinger bands is very simple. If the market is trending up, price will walk up the upper band. If the market is trending down, price will walk down the lower band. Bollinger bands plot a moving average in the middle, and the extreme bands are formed by standard deviation lines around that moving average. Now don't be scared by the algebraic term standard deviations. You don't have to know how to calculate them - the indicator does that by itself. Normally, the standard deviation for Bollin...