What's BB?
Ok guys so today I was on a lecture on a very interesting topic as regards crypotocurrency trading by one very great guy i know Mr $am on telegram so I thought to share an abridged version of the lecture. The main lecture is in the image attached but for my lazy friends I pasted something. Trust me u would want to go through it @ image
I will be discussing on TA tools topic: Bollinger Bands
It's an adaptive trading bands that reflects changes in volatility and provide clearer picture of the true extent of price movement/action.
BB can be used on most financial time series, including equities, forex, stock market and cryptocurrency trading.
There are 5 types of BB
- Constriction BB: A constriction BB talks about volatility decrease of a particular trade or market or price action
Second type of BB is called Bullish Expansion: At this point price will walk up or stick up to the upper BB ( the red line). And note this the Upper BB will expand upward and the lower BB will expand downward
A bullish move up is when upper BB (red) heads up or north and the lower bands(yellow) heads up or north as well. So in a nutshell,what this depicts about volatility is that the price action will not be extreme and lengthy as bearish expansion. And the volatility is not at is peak as bullish expansion
Number 5 type of BB is called Bearish move down which is equal to the opposite of Bullish move up. For everything that happens for bullish move up reverse is the case for bearish move down
Nice Technical Analysis. Keep it up. Will upvote this
Ya credit to real author @i-am-mr-sam
He is a new user but he is a TA bass ass u might wanna follow him. He z also on Cryptogene you should know him
Ok. Good to hear that.
Thanks for sharing. I really need to develop my technical analysis skills to that lambo won't evade me :)
We are getting there boss:)
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This post has received a 1.71 % upvote from @booster thanks to: @kingxy.