BollingerWorm !!!

[timepass]

NF:Bears Fried on Fryday

A trending day that never really looked back. A slight gap up and then continuous uptrending. Small jerks in between to give hope to the bears and shake off the weaker bulls.

For those who haven's squared off the longs, there's hope, because bollingerworm is still in "Buy" mode. Let's hope that RBI obliges

The picture above shows 1) Bollingerworm for today (standalone) and 2) Bollingerworm for today as continued from the previous session.


How to draw Bollingerworm :

1.Use standard Bollinger Bands ,that is, bb(20,2).

2.Use ema2-HIGH and ema2-LOW to outline the body of the worm.

3.If the body comes out of bands & re-enters ,then make an ENTRY.

4.The EXIT is, if body comes out the other band and re-enters the body.

5.In case of extreme Bullishness/extreme Bearishness another
pair is used pertaining to BB(20,1) or just for guidance in normal case also.

6.If candles are sandwiched between OUTER of BB(20,1) and INNER band
BB(20,2) then ride the trend .

7.If either ema-2H or ema-2L is cut twice by either BB(20,2),BB(20,1) or
SMA-20 in quick succession ,it indicates a END of a trend.

8.Continuation is indicated if both ema-2H and ema-2L are cut by SMA-20
and/or BB(20,1) and/or BB(20,2).

9.If the trade goes against you and if the divisions on Y-axis is not more
than 10,in that case you can add ONE or TWO trades,atleast 5 points apart.
(Or as per the volatility on that day).

 

[timepass]

NF:

The picture above shows 1) Bollingerworm for today (standalone) and 2) Bollingerworm for today as continued from the previous session.


How to draw Bollingerworm :

1.Use standard Bollinger Bands ,that is, bb(20,2).

2.Use ema2-HIGH and ema2-LOW to outline the body of the worm.

3.If the body comes out of bands & re-enters ,then make an ENTRY.

4.The EXIT is, if body comes out the other band and re-enters the body.

5.In case of extreme Bullishness/extreme Bearishness another
pair is used pertaining to BB(20,1) or just for guidance in normal case also.

6.If candles are sandwiched between OUTER of BB(20,1) and INNER band
BB(20,2) then ride the trend .

7.If either ema-2H or ema-2L is cut twice by either BB(20,2),BB(20,1) or
SMA-20 in quick succession ,it indicates a END of a trend.

8.Continuation is indicated if both ema-2H and ema-2L are cut by SMA-20
and/or BB(20,1) and/or BB(20,2).

9.If the trade goes against you and if the divisions on Y-axis is not more
than 10,in that case you can add ONE or TWO trades,atleast 5 points apart.
(Or as per the volatility on that day).

 

[timepass]

Columbus, I just remarked that, in the right hand side image, the initial shape is not an oval at all. It is bow shaped and the bottom BB is almost straight. Interesting shape, don't remember having seen it before.

 

[timepass]

NF: A good day for intraday traders, if you can keep your stoplosses and catch a falling knife . Still, overall a plus day.

The picture above shows 1) Bollingerworm for today (standalone) and 2) Bollingerworm for today as continued from the previous session.


How to draw Bollingerworm :

1.Use standard Bollinger Bands ,that is, bb(20,2).

2.Use ema2-HIGH and ema2-LOW to outline the body of the worm.

3.If the body comes out of bands & re-enters ,then make an ENTRY.

4.The EXIT is, if body comes out the other band and re-enters the body.

5.In case of extreme Bullishness/extreme Bearishness another
pair is used pertaining to BB(20,1) or just for guidance in normal case also.

6.If candles are sandwiched between OUTER of BB(20,1) and INNER band
BB(20,2) then ride the trend .

7.If either ema-2H or ema-2L is cut twice by either BB(20,2),BB(20,1) or
SMA-20 in quick succession ,it indicates a END of a trend.

8.Continuation is indicated if both ema-2H and ema-2L are cut by SMA-20
and/or BB(20,1) and/or BB(20,2).

9.If the trade goes against you and if the divisions on Y-axis is not more
than 10,in that case you can add ONE or TWO trades,atleast 5 points apart.
(Or as per the volatility on that day).

 

[timepass]

NF: A good money making day - for the brokers and the government (taxes)

EOD shows many entry points in the image, but today was very difficult to trade by bollingerworm.

The picture above shows 1) Bollingerworm for today (standalone) and 2) Bollingerworm for today as continued from the previous session.


How to draw Bollingerworm :

1.Use standard Bollinger Bands ,that is, bb(20,2).

2.Use ema2-HIGH and ema2-LOW to outline the body of the worm.

3.If the body comes out of bands & re-enters ,then make an ENTRY.

4.The EXIT is, if body comes out the other band and re-enters the body.

5.In case of extreme Bullishness/extreme Bearishness another
pair is used pertaining to BB(20,1) or just for guidance in normal case also.

6.If candles are sandwiched between OUTER of BB(20,1) and INNER band
BB(20,2) then ride the trend .

7.If either ema-2H or ema-2L is cut twice by either BB(20,2),BB(20,1) or
SMA-20 in quick succession ,it indicates a END of a trend.

8.Continuation is indicated if both ema-2H and ema-2L are cut by SMA-20
and/or BB(20,1) and/or BB(20,2).

9.If the trade goes against you and if the divisions on Y-axis is not more
than 10,in that case you can add ONE or TWO trades,atleast 5 points apart.
(Or as per the volatility on that day).

 

[timepass]

NF: Again two necks - a wider one and a narrower one, then a huge breakout !

The picture above shows 1) Bollingerworm for today (standalone) and 2) Bollingerworm for today as continued from the previous session.


How to draw Bollingerworm :

1.Use standard Bollinger Bands ,that is, bb(20,2).

2.Use ema2-HIGH and ema2-LOW to outline the body of the worm.

3.If the body comes out of bands & re-enters ,then make an ENTRY.

4.The EXIT is, if body comes out the other band and re-enters the body.

5.In case of extreme Bullishness/extreme Bearishness another
pair is used pertaining to BB(20,1) or just for guidance in normal case also.

6.If candles are sandwiched between OUTER of BB(20,1) and INNER band
BB(20,2) then ride the trend .

7.If either ema-2H or ema-2L is cut twice by either BB(20,2),BB(20,1) or
SMA-20 in quick succession ,it indicates a END of a trend.

8.Continuation is indicated if both ema-2H and ema-2L are cut by SMA-20
and/or BB(20,1) and/or BB(20,2).

9.If the trade goes against you and if the divisions on Y-axis is not more
than 10,in that case you can add ONE or TWO trades,atleast 5 points apart.
(Or as per the volatility on that day).

 

[columbus]

NF: Again two necks - a wider one and a narrower one, then a huge breakout !

OVAL SHAPE-NARROW NECK-BREAK OUT only.You are referring outline
of worm within the BAND.But it refers to the outline of the band only.

Oval shape is due to gap up or gap down opening.(In today's case there is no appreciable gap down)
Narrow Neck is due to TODAY's values after 11AM (5min TF is assumed).
Generally during this period no fireworks are expected.
Break-out is due the fireworks in either way.

 

[timepass]

OVAL SHAPE-NARROW NECK-BREAK OUT only.You are referring outline
of worm within the BAND.But it refers to the outline of the band only.

Oval shape is due to gap up or gap down opening.(In today's case there is no appreciable gap down)
Narrow Neck is due to TODAY's values after 11AM (5min TF is assumed).
Generally during this period no fireworks are expected.
Break-out is due the fireworks in either way.

It wasn't much of an oval today, looked like a neck only

 

[columbus]

It wasn't much of an oval today, looked like a neck only

Yes, barely resemble.
20*5min=100min [9.15+100min=10.55AM.Before it ,shows up ,if at all.)

 

[timepass]

NF:

The picture above shows 1) Bollingerworm for today (standalone) and 2) Bollingerworm for today as continued from the previous session.


How to draw Bollingerworm :

1.Use standard Bollinger Bands ,that is, bb(20,2).

2.Use ema2-HIGH and ema2-LOW to outline the body of the worm.

3.If the body comes out of bands & re-enters ,then make an ENTRY.

4.The EXIT is, if body comes out the other band and re-enters the body.

5.In case of extreme Bullishness/extreme Bearishness another
pair is used pertaining to BB(20,1) or just for guidance in normal case also.

6.If candles are sandwiched between OUTER of BB(20,1) and INNER band
BB(20,2) then ride the trend .

7.If either ema-2H or ema-2L is cut twice by either BB(20,2),BB(20,1) or
SMA-20 in quick succession ,it indicates a END of a trend.

8.Continuation is indicated if both ema-2H and ema-2L are cut by SMA-20
and/or BB(20,1) and/or BB(20,2).

9.If the trade goes against you and if the divisions on Y-axis is not more
than 10,in that case you can add ONE or TWO trades,atleast 5 points apart.
(Or as per the volatility on that day).