-34 week continuation decending triangle -Possible 5 week horizontal range launching pattern (boundaries are not well defined)
-Looking to put 40 basis points of risk initially, an additional 40 if conditions are favourable
Not
-Two separate sell orders in at different levels for 80 basis points of risk -Today's price was responsive to narrow range resistance and a 30 EMA -On the cusp of a breakout
Not
I don't trade using Bollinger Bands but I like overlaying them over a potential setup to see what they can tell me about price. I love whats called "the squeeze" when the outer bands contract to the point a violent price will usually conclude. At technical chart junctures, these can lead to some explosive setups. For one of the best explanations I have read in a while on Bollinger Bands, check out this article from #tradeciety twitter.com/Tradeciety/status/974046032156913664?s=19
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