Here's another W bottom which occurred sometime back on the pound/dollar

M Tops and W Bottom's Using Bollinger Bands

Here's another W bottom which occurred sometime back on the eur/usd

M Tops and W Bottom's Using Bollinger Bands

close above/below the middle band completes the W or the M formation with an increase in volume

M Tops and W Bottom's Using Bollinger Bands

it was in a downtrend actually i could not attach such a chart it would looked unclear since I've zoomed in the trend direction looks unclear.

M Tops and W Bottom's Using Bollinger Bands

same indicator is not possible for four hours mate in that case I would advice use trailing stop strategy and keep a fixed target

M Tops and W Bottom's Using Bollinger Bands

Here's one of the fakeouts which just happened this hour notice there was an M top formation prior to a Downtrend and a minor correction

M Tops and W Bottom's Using Bollinger Bands

Here's another W bottom this time on an hourly chart of the eur/usd which occurred last week.

M Tops and W Bottom's Using Bollinger Bands

I also use Hourly Pivot points to determine exit points. But I usually target 10-15 pips per trade minimum. I have attached the indicator.

M Tops and W Bottom's Using Bollinger Bands

Regarding stop losses its best to use trailing stops.

M Tops and W Bottom's Using Bollinger Bands

W bottoms are the vice versa of M tops. RULES FOR W BOTTOM FORMATIONS 1) The price must close below the Lower Band 2) The price must then retrace upwards and close above the middle band or 20 SMA 3) The price must then correct to the low but not ...

M Tops and W Bottom's Using Bollinger Bands

seems like a bottom on the eur/usd I would long with a target of 1.4027 and keep a stop loss 1.3446. What do you guys think?

The College Trader

i just took 30 pips very slow movement!!

USD/JPY Discussion

im short with a tp @ 89.60 and a stop loss @ 90.41 her my chart I use candlestick formations for trading..

USD/JPY Discussion

no mate not like this

Rate of change indicator for mt4

well done mate good money management

Gold Discussion

Very important support zone for the pound/yen

Daily GBP/JPY analysis

im still bullish on gold for short term my 1st target 1117.5

Gold Discussion

good luck mate and thanks for the info

The College Trader