How to use Bollinger Bands

[TheChartGuru]

Here is a mini tutorial on how to use Bollinger Bands

http://tinyurl.com/fc8vj

The Guru has spoken

[madcowdisease]

Originally Posted by TheChartGuru

Here is a mini tutorial on how to use Bollinger Bands

http://tinyurl.com/fc8vj

The Guru has spoken

Thanks for the education Guru, but would you mind, perhaps, ranking your oscillators? What do you look for first, then second, etc.? Do you pull the trigger on a ticker that meets 4 out of 5 criterion or do you wait for all positives? Thanks in advance.

[TheChartGuru]

Since I am a bottom fisher, I like to look at the RSI(7) on the daily and weekly charts. I then look at the Lower Bollinger Bands(20,2) and then at the Slow Stochastic(14,3). Lastly, the last piece of the puzzle is the candlestick reversal signal. For example, today I'm looking at SUF. It has been down for 6 days, volume has been increasing as it has been selling off and RSI(7) is at a depressing 4.81. SUF closed BELOW the LBB and it formed a small spinning top. This looks like a reversal set up. Now I watch it and I wait for the price to move above yesterday's open($4.80) or yesterday's high($4.99). Once a depressed stock catches fire it can turn into a wild forest fire. It's 9:28 AM, lets watch it and see what it does....

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