Learned a new technique from some site posted by some guy... so decided to try on it since he was so sure that it works and that he tested it numerous time. He succeeded almost everytime he use it as he claim. Well, i backtested and it looks ok so... i tried to do it.
This technique goes like this, consist of 3 period 50 Bollinger Bands (3 4 and 5 deviation respectively) and if the price touchs the blue one(second Bollinger Band), there is a high possibility that the price will retrace to the middle red line which is the 50ma. I did succeed a few times with this system, its kinda not my style though, as this is more used for scalping whereas i go for longer period trading kind.. so i managed to scalp 2 times of 10pips and once 2pips. But this flop destroyed me.
For what actually happened, u may refer to my attached image above. Well maybe someone can modify it abit and make it more reliable? Who knows... im just sharing yea? There maybe some potential to it. Lol. Cos the price as promised... always do retrace to 50ma. Just that the entry isnt good enough and before it can hit the target.. my stop gets hit.
I tickled the chart for a few pips and it punch me for 40... F***
Once u learn to quit, it becomes a habit.