that this simple swing trading strategy that Livermore used helped forecast the biggest stock market crash in history, the Wall Street crash of 1929, also known as the Black Tuesday. 5) Price consolidates sideways, not reaching the outer band anymore and the rejection-pinbar ended the downtrend. Youre probably wondering: What is an RSI divergence? If you want to learn more about this breakout technique and how to manage breakout trades, please read our Breakout Trading Strategy Used by Professional Traders article for more insights.
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Note: If you really want to learn about the calculations of a Bollinger Band, check out Johns book, Bollinger on Bollinger Bands. Just like in trading, some trading tools and indicators are best used in particular environments or situations. It is our goal to give you the trading opportunities as well as help you in every way that we can to be come the best swing traders you can. Lets compare trading to building a house. 4) A strong downtrend where price stayed close to the outer band. Now lets look at a way to use Bollinger Bands when the market is trending. For our entry filter, were going to use one of our favorite swing trading indicators aka the Bollinger Bands. Heres the thing: Many new traders think they need more indicators to be a consistently profitable trader. Some complex strategies can be too overwhelming and confusing, so using a simple swing trading strategy; it can be all it takes to succeed in this business. The reason these bounces occur is because. Please leave a comment below if you have any questions about this swing trading strategy!