Just thinking out loud: most of my losses trading Bollinger Bands have come from chasing false breakouts.
I used to go short as soon as price broke below the lower band after a squeeze. But a few times, it soon moved back inside the bands, and I got burned again and again.
So this time, with $ADA ’s daily chart falling below the lower band at 0.2225, I’m watching two things first: whether the candle closes below the lower band, and whether price can get back above the middle band at 0.2464 on a rebound.
Anyone who’s looked into this care to add anything?
#ADA
I used to go short as soon as price broke below the lower band after a squeeze. But a few times, it soon moved back inside the bands, and I got burned again and again.
So this time, with $ADA ’s daily chart falling below the lower band at 0.2225, I’m watching two things first: whether the candle closes below the lower band, and whether price can get back above the middle band at 0.2464 on a rebound.
Anyone who’s looked into this care to add anything?
#ADA