Olymp Trade Strategy Using support / resistance and Bollinger Bands

Olymp Trade Strategy Using support / resistance and Bollinger Bands

What is support resestence?

What is meant by supprot resistance is that the current price level is too high or can be called the price has reached the highest point.So when we find a price like that can be called resistance.
Whereas for support is the highest price.

So in this strategy we make use of trend reversals.So in this strategy we make use of trend reversals.
However, this strategy will be even better if you use additional indicators, namely Bollinger Bands.

The first step you must take in using this strategy is :
Prepare the indicators beforehand that are needed before trading on Olymp Trade
Olymp Trade Strategy Using support / resistance and Bollinger Bands
Bollinger Bands
You can see the picture above.

Second step Focus on the order
In this step you should focus on paying attention to the right time to place an order at Olymp Trade (from 00:01 to 01:00).

How to open an efficient trade

In this case you should focus on the candles that appear outside the bolinger band indicator, but the price must be in the support or resistance zone - Place an order within 1 minute.

Open higher trading

  • The price goes beyond the lower Bollinger Bands and there are candles outside the band. At the same time, the price is in the support zone and is making a red candle as an indicator. Open the UP trade for a green candle that will appear right after that.
Olymp Trade Strategy Using support / resistance and Bollinger Bands
You can see like the picture above,the picture shows where we have to do higher buying.

Open lower trading

  • The price passes the upper band of Bollinger Bands and there is a candle outside the band. At the same time, the price is in the resistance zone and the indicator is a green candle. Open the DOWN trade for the red candle that will appear after that.
The picture above shows where we have to open the lower position.

What you should know in this strategy is to take advantage of trend reversals.If you can't place an order at the right time,Most likely you will lose the money you have, so the point is we have to be patient waiting for the right momentum.


    Olymp Trade Strategy Using support / resistance and Bollinger Bands Olymp Trade Strategy Using support / resistance and Bollinger Bands Reviewed by TRADING TRICK on December 02, 2019 Rating: 5

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