Bollinger Bands Pivot Confluence Trade 💡

Bollinger Band confluence trade. http://www.financial-spread-betting.c...  PLEASE LIKE, SUBSCRIBE AND SHARE THIS VIDEO SO WE CAN DO MORE!   This is one for day traders but it can lead you to a multi-day swing move.  I like Bollinger Bands in certain conditions; in trending markets they are not that useful but in range bound markets they work well.  We are going on step further with this setup and adding an extra indicator to give confluence to give us a little bit more confidence when the prime sweet-spot presents itself.  So forex, major pairs probably works ok on the big indices like FTSE 100, Dow..etc This is based on a daily timeframe but I'm not using the daily chart.  You want 1 or 2 worth of days price action in your vision at any one time (this is an intraday play).  The idea of this trade is that we are trying to identify a range-bound environment.  I could come up say you have to use an ADX or RSI.  I'm a big fan of looking at price action with my naked eye.  But you want to identify a range bound market because that's where Bollinger Bands are most effective.  You also add to your charts Pivot Points which are quite easy to put up on most charting platforms.  What we are looking for is for price to have a confluence of being outside of the top bollinger or outside the lower bollinger band and in or around R1, R2, S1, S2.  These are generally used as extremes; areas where price could potentially reverse. (i.e. when we're in mean reversion conditions these are levels where it could make sense to initiate a counter-trend trade).  Combine that with Bollinger Bands and we have two conditions to give us more confluence. OK.

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