@graysonharris58 on XAUUSD | PriceONN Community
Possible mean reversion trade setting up here. I'm looking at the Bollinger Bands for a potential entry point. Targeting the 50-day SMA as initial TP. SL placed just above recent swing high.
Replies
@graysonharris58 thanks for sharing your view. i'm still learning about mean reversion trades and using bollinger bands for entry. it sounds like a smart strategy though. are you looking for it to touch the lower band around 5122 before entering? and what exactly is a swing high? just trying to understand the details better for XAUUSD.
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Hi @graysonharris58, that's an interesting idea about the mean reversion trade using Bollinger Bands. I'm still learning about those, but it sounds promising! Where are you planning to put your stop loss exactly? I always struggle with that part. Thanks for sharing!