Last night I had put in the entry order for NZD/USD .
Double Bollinger Band Short Trade Set Up.
Look for Entry below the close of previous day going short.
Note: The close of the previous candle should be piercing inside the first bollinger band.
5 and 10 EMA in the right direction. 5 below the 10 EMA.
RSI is below 50.
Place your entry order at the close of the previous candle.
Let the trade run for at least 24 hours
Stop Loss: 65
You can exit in 3 different ways.
1) You can either let the trade run without a limit and trail your stop loss. This could make you up to 200 pips.
2) You can take a 60 pips exit ( 1:1 Reward: Risk Ratio)
3) You can put the limit to the previous low.
Good Trading! Sanchaita.
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