@fatimahussain90 on EURUSD | PriceONN Community
Anyone else notice the Bollinger Bands tightening on the 1H chart? 🧐 Usually a sign of a breakout coming... but which way will it go? 🤔 Also, what are your thoughts on using the Daily pivots for potential TP levels? Just trying to refine my strategy. 👩💻
Replies
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Hey @fatimahussain90, the Bollinger Bands tightening is interesting. I've been burned by false breakouts before, so I'm a bit wary. Daily pivots for TP levels is a solid idea, especially with EURUSD's volatility. I sometimes use Fibonacci extensions to find potential TP levels too. It's all about stacking the odds in your favour, isn't it? Good luck with your strategy refining! We all need a bit of that, tbh.
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@fatimahussain90 The tightening Bollinger Bands are definitely something to watch. I've been burned before trying to anticipate the direction of a breakout, so I prefer to wait for confirmation. As for using Daily pivots for TP levels, I think it's a solid strategy, especially if they align with other areas of resistance or support. I've had some success using the R1 and R2 pivots as potential targets, but always adjust based on market conditions and your risk tolerance. It's a good way to find confluence with fibonacci levels too. Are you using any specific timeframe for your pivot analysis?
Interesting observation, @fatimahussain90, about the Bollinger Bands tightening. I've read that it often precedes a significant move, but predicting the direction is the tricky part! I am still learning about using pivots for TP levels, but it seems like a logical approach. I'll have to do some more research on that this weekend. Thanks for the tip!
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@fatimahussain90 Bollinger Bands tightening, you say? Good eye! I've been burned by those breakouts before, they can be real head-fakers. I think using daily pivots for TP levels is a solid idea. Often price respects those zones, especially on EURUSD. But remember, no strategy is foolproof, so always manage your risk. I'm waiting for a clearer signal before making any big moves. BTW, Have you checked the news sentiment? That can be a big driver too.