BollingerWorm !!!

[timepass]

NF:

The picture above shows 1) Bollingerworm for today (standalone) and 2) Bollingerworm for today as continued from the previous session.


How to draw Bollingerworm :

1.Use standard Bollinger Bands ,that is, bb(20,2).

2.Use ema2-HIGH and ema2-LOW to outline the body of the worm.

3.If the body comes out of bands & re-enters ,then make an ENTRY.

4.The EXIT is, if body comes out the other band and re-enters the body.

5.In case of extreme Bullishness/extreme Bearishness another
pair is used pertaining to BB(20,1) or just for guidance in normal case also.

6.If candles are sandwiched between OUTER of BB(20,1) and INNER band
BB(20,2) then ride the trend .

7.If either ema-2H or ema-2L is cut twice by either BB(20,2),BB(20,1) or
SMA-20 in quick succession ,it indicates a END of a trend.

8.Continuation is indicated if both ema-2H and ema-2L are cut by SMA-20
and/or BB(20,1) and/or BB(20,2).

9.If the trade goes against you and if the divisions on Y-axis is not more
than 10,in that case you can add ONE or TWO trades,atleast 5 points apart.
(Or as per the volatility on that day).

 

[timepass]

The worm had a long neck today, about 2 hours, and looked overburdened and ready to dive down, and then the explosive breakout upwards happened.

NF:

The picture above shows 1) Bollingerworm for today (standalone) and 2) Bollingerworm for today as continued from the previous session.


How to draw Bollingerworm :

1.Use standard Bollinger Bands ,that is, bb(20,2).

2.Use ema2-HIGH and ema2-LOW to outline the body of the worm.

3.If the body comes out of bands & re-enters ,then make an ENTRY.

4.The EXIT is, if body comes out the other band and re-enters the body.

5.In case of extreme Bullishness/extreme Bearishness another
pair is used pertaining to BB(20,1) or just for guidance in normal case also.

6.If candles are sandwiched between OUTER of BB(20,1) and INNER band
BB(20,2) then ride the trend .

7.If either ema-2H or ema-2L is cut twice by either BB(20,2),BB(20,1) or
SMA-20 in quick succession ,it indicates a END of a trend.

8.Continuation is indicated if both ema-2H and ema-2L are cut by SMA-20
and/or BB(20,1) and/or BB(20,2).

9.If the trade goes against you and if the divisions on Y-axis is not more
than 10,in that case you can add ONE or TWO trades,atleast 5 points apart.
(Or as per the volatility on that day).

 

[timepass]

NF:

The picture above shows 1) Bollingerworm for today (standalone) and 2) Bollingerworm for today as continued from the previous session.


How to draw Bollingerworm :

1.Use standard Bollinger Bands ,that is, bb(20,2).

2.Use ema2-HIGH and ema2-LOW to outline the body of the worm.

3.If the body comes out of bands & re-enters ,then make an ENTRY.

4.The EXIT is, if body comes out the other band and re-enters the body.

5.In case of extreme Bullishness/extreme Bearishness another
pair is used pertaining to BB(20,1) or just for guidance in normal case also.

6.If candles are sandwiched between OUTER of BB(20,1) and INNER band
BB(20,2) then ride the trend .

7.If either ema-2H or ema-2L is cut twice by either BB(20,2),BB(20,1) or
SMA-20 in quick succession ,it indicates a END of a trend.

8.Continuation is indicated if both ema-2H and ema-2L are cut by SMA-20
and/or BB(20,1) and/or BB(20,2).

9.If the trade goes against you and if the divisions on Y-axis is not more
than 10,in that case you can add ONE or TWO trades,atleast 5 points apart.
(Or as per the volatility on that day).

 

[timepass]

NF:Two ovals and a breakout

The picture above shows 1) Bollingerworm for today (standalone) and 2) Bollingerworm for today as continued from the previous session.


How to draw Bollingerworm :

1.Use standard Bollinger Bands ,that is, bb(20,2).

2.Use ema2-HIGH and ema2-LOW to outline the body of the worm.

3.If the body comes out of bands & re-enters ,then make an ENTRY.

4.The EXIT is, if body comes out the other band and re-enters the body.

5.In case of extreme Bullishness/extreme Bearishness another
pair is used pertaining to BB(20,1) or just for guidance in normal case also.

6.If candles are sandwiched between OUTER of BB(20,1) and INNER band
BB(20,2) then ride the trend .

7.If either ema-2H or ema-2L is cut twice by either BB(20,2),BB(20,1) or
SMA-20 in quick succession ,it indicates a END of a trend.

8.Continuation is indicated if both ema-2H and ema-2L are cut by SMA-20
and/or BB(20,1) and/or BB(20,2).

9.If the trade goes against you and if the divisions on Y-axis is not more
than 10,in that case you can add ONE or TWO trades,atleast 5 points apart.
(Or as per the volatility on that day).

 

[timepass]

NF:Oval, Neck and Breakout . Sounds simple, eh, and looks so obvious at EOD. But don't rush into it without thinking; those pullbacks to 20SMA can take out all your stoplosses as well as profits. Heck, I missed about 15 pts on 5000PE today because of stoploss being hit.

The picture above shows 1) Bollingerworm for today (standalone) and 2) Bollingerworm for today as continued from the previous session.


How to draw Bollingerworm :

1.Use standard Bollinger Bands ,that is, bb(20,2).

2.Use ema2-HIGH and ema2-LOW to outline the body of the worm.

3.If the body comes out of bands & re-enters ,then make an ENTRY.

4.The EXIT is, if body comes out the other band and re-enters the body.

5.In case of extreme Bullishness/extreme Bearishness another
pair is used pertaining to BB(20,1) or just for guidance in normal case also.

6.If candles are sandwiched between OUTER of BB(20,1) and INNER band
BB(20,2) then ride the trend .

7.If either ema-2H or ema-2L is cut twice by either BB(20,2),BB(20,1) or
SMA-20 in quick succession ,it indicates a END of a trend.

8.Continuation is indicated if both ema-2H and ema-2L are cut by SMA-20
and/or BB(20,1) and/or BB(20,2).

9.If the trade goes against you and if the divisions on Y-axis is not more
than 10,in that case you can add ONE or TWO trades,atleast 5 points apart.
(Or as per the volatility on that day).

 

[columbus]

Rather we had big narrow neck today.

 

[timepass]

Rather we had big narrow neck today.

I would regard the breakdown at 12:50 candle as the end of the neck, or maybe the beginning of a second broader neck because that period resulted in another about 1 1/2 hour of flat BB . So maybe today we had a day with TWO necks.

 

[timepass]

NF:A trending day, 4 Ovals of various sizes and hardly any necks.

The picture above shows 1) Bollingerworm for today (standalone) and 2) Bollingerworm for today as continued from the previous session.


How to draw Bollingerworm :

1.Use standard Bollinger Bands ,that is, bb(20,2).

2.Use ema2-HIGH and ema2-LOW to outline the body of the worm.

3.If the body comes out of bands & re-enters ,then make an ENTRY.

4.The EXIT is, if body comes out the other band and re-enters the body.

5.In case of extreme Bullishness/extreme Bearishness another
pair is used pertaining to BB(20,1) or just for guidance in normal case also.

6.If candles are sandwiched between OUTER of BB(20,1) and INNER band
BB(20,2) then ride the trend .

7.If either ema-2H or ema-2L is cut twice by either BB(20,2),BB(20,1) or
SMA-20 in quick succession ,it indicates a END of a trend.

8.Continuation is indicated if both ema-2H and ema-2L are cut by SMA-20
and/or BB(20,1) and/or BB(20,2).

9.If the trade goes against you and if the divisions on Y-axis is not more
than 10,in that case you can add ONE or TWO trades,atleast 5 points apart.
(Or as per the volatility on that day).

 

[timepass]

NF:A frustrating day, began with a neck and expanded only slightly, not enough to be called a breakout. Then remained choppy and hit stoplosses on both the sides

The picture above shows 1) Bollingerworm for today (standalone) and 2) Bollingerworm for today as continued from the previous session.


How to draw Bollingerworm :

1.Use standard Bollinger Bands ,that is, bb(20,2).

2.Use ema2-HIGH and ema2-LOW to outline the body of the worm.

3.If the body comes out of bands & re-enters ,then make an ENTRY.

4.The EXIT is, if body comes out the other band and re-enters the body.

5.In case of extreme Bullishness/extreme Bearishness another
pair is used pertaining to BB(20,1) or just for guidance in normal case also.

6.If candles are sandwiched between OUTER of BB(20,1) and INNER band
BB(20,2) then ride the trend .

7.If either ema-2H or ema-2L is cut twice by either BB(20,2),BB(20,1) or
SMA-20 in quick succession ,it indicates a END of a trend.

8.Continuation is indicated if both ema-2H and ema-2L are cut by SMA-20
and/or BB(20,1) and/or BB(20,2).

9.If the trade goes against you and if the divisions on Y-axis is not more
than 10,in that case you can add ONE or TWO trades,atleast 5 points apart.
(Or as per the volatility on that day).

 

[timepass]

NF:
Another day that began with a neck and created two ovals later on, trending downwards all the time.

But please note the last 3-4 bars of the day - between 3.15-3.30pm - there's hardly any movement in index futures at the time !! Though nifty moved down about 3-4 points during that period, the futures hardly showed any movement. Now last 10-15 minutes are the time when the EOD traders take their positions. So, maybe the positional/swing traders had either taken up positions during the session, or maybe they are uncertain about the position to take.

Anyway, the worm shows continuing shorts.

The picture above shows 1) Bollingerworm for today (standalone) and 2) Bollingerworm for today as continued from the previous session.


How to draw Bollingerworm :

1.Use standard Bollinger Bands ,that is, bb(20,2).

2.Use ema2-HIGH and ema2-LOW to outline the body of the worm.

3.If the body comes out of bands & re-enters ,then make an ENTRY.

4.The EXIT is, if body comes out the other band and re-enters the body.

5.In case of extreme Bullishness/extreme Bearishness another
pair is used pertaining to BB(20,1) or just for guidance in normal case also.

6.If candles are sandwiched between OUTER of BB(20,1) and INNER band
BB(20,2) then ride the trend .

7.If either ema-2H or ema-2L is cut twice by either BB(20,2),BB(20,1) or
SMA-20 in quick succession ,it indicates a END of a trend.

8.Continuation is indicated if both ema-2H and ema-2L are cut by SMA-20
and/or BB(20,1) and/or BB(20,2).

9.If the trade goes against you and if the divisions on Y-axis is not more
than 10,in that case you can add ONE or TWO trades,atleast 5 points apart.
(Or as per the volatility on that day).