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.
