Instructions for increasing infinite profits with Bollinger Bands.
➡️ Bollinger band is an indicator that goes along with the price line and is also 1 of 4 Indicators in my technical analysis toolkit. Today I will guide you how to use Master to get Bollinger band.
1. Go to Tradingview and select Indicator => BB => Bollinger band.
2. Here there are 2 parts you need to pay attention to: - BB's middle line will act as resistance - support. If the price is above the middle BB, the trend will support an increase and vice versa.
- The upper & lower lines will act as main indicators to help us determine the price trend.
3. When the BB squeezes again, the price will tend to adjust to the middle line of the BB.
4. On the contrary, when the BB expands, the price will tend to stick to the BB and continue to follow the main trend. For example, if you are holding an order and see BB expanding, don't rush to close the short 😂
5. Trường hợp BB tạo dấu mốc thì xu hướng chính đang suy yếu => có thể cân nhắc chốt lệnh khi BB bắt đầu tạo mốc.
Summary: Bollinger band is an indicator that goes along with the price line and only needs 1 candle with a strong fluctuation amplitude for the BB to be bent in another direction immediately so this is not the holy grail so you need to combine it with price line + other Indicators to make more accurate judgments. The most effective use of BB is to increase profits better.
When the BB expands, it means the trend is very strong => avoid catching falling knives as well as young pegs when the BB expands.
Note: All technical indicators will be used most effectively in time frames from large to small => M => W => D => H4. For example, if you identify yourself as a Holder, you should not use BB in the H4 or D1 frame to take profits 😂
