AUDCAD on H1 chart very well meets the criteria for strategy Bollinger Bands # 3A.

What criteria have been met? Check below:

  • 5 consecutive candles closed above the Bollinger upper band
  • formed local high(1.0038)
  • formed a local low (1.0004)

Breaking local peak may therefore be an opportunity to enter the long (purchase option CALL). In case of a long position the stop loss will be under local low. Profit can be implemented at 200-, 300-, or 400 percent extension of the upward movement shown in the chart below.

1410-audcad

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