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TRADING NAKED

Master  your  setup. Master  your Self

 

the interpretation and application of price action concepts

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We all share a similar path in Trading. Even though you may not be a consistently profitable trader now, you can chose to enjoy the path. This alone may make the difference in your success.

 

Gimmee bar setup - Joe Ross


application/pdfGimmee     (webpage)-Gimmee


indicator: Bollinger Band 20 per .2 std dev

Concept is to apply this trade when in a range. Determine range  by slope of Bollinger bands = when they are relatively flat you are range bound. Eventually price will break out so as time increases use more caution.

sell break of Gimmee bar when at resistance = top Bollinger band  or

buy break of Gimmee bar when at support = bottom Bollinger band

Either the Gimmee bar or bar preceding the Gimmee bar must touch the Bollinger band.

The Gimmee bar must be in the direction away from the Bollinger band = a reversal and opposite from the preceding bar. This idea is basic price action reversal bar pattern. Sometimes in addition it will be a inside bar which in itself is a trade many times.

You can also dial down to a lower time frame to find the entry or most aggressive Buy/sell the poke above/below the band.

click chart to enlarge

 
 
 
 

 

 

 

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