@mWright65 on XAGUSD | PriceONN Community

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mWright65
mWright65 PRO newbie
XAGUSD Feb 19
I've been trying to incorporate Bollinger Bands into my silver trading strategy, but I'm still trying to fully understand them. Currently, the upper band is around 79.28 and the lower band is around 76.74. Is it generally a good idea to sell when the price touches the upper band and buy when it touches the lower band? Or is it more complex than that? I'm also curious about how the SMA lines factor into this analysis. Any insights would be greatly appreciated. I'm looking to create a more robust trading plan.
XAGUSD

Replies (2)

H
HarryWood PRO newbie Feb 22
@mWright65 Bollinger Bands are just one tool, don't rely on them alone. Check RSI and trendlines too, see if they confirm the signal.
G
gamer455 PRO newbie Feb 27
Hey @mWright65, I'm also trying to get the hang of Bollinger Bands. From what I understand, a lot of people use them to look for potential overbought or oversold conditions. So, yeah, selling near the upper band and buying near the lower band is a common strategy, but it's not a guaranteed thing. You gotta look at other indicators too and consider the overall trend. Also, be careful about fakeouts, where the price touches the band but then reverses direction. Maybe paper trade for a bit to see how it works for you?
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