Low, Excellent execution. Remember, every single play *MUST* have a target greater than the risk but if price action says otherwise we take what we can. Once the trendline establishes itself, move the stop to protect capital, use the TL for placement guidance. Needless to say when the pattern works well the target will most definitely surpass the risk. However, something tells me you already know this Anek
I'd like to see that bust out to the upside....I'm not comfortable with all the support levels below to short it.
Let me start by saying that I do not use Bollinger Bands but that is personal preference. Some people use them and use them effectively. The bands are used in several ways, they are used for plays detailing double bottoms/tops. For this you need to have a double bottom very close to the lower band (both bottoms on or near to it) and the entry signal is given when it crosses over the middle band. The squeeze is another play that you can take advantage of, for this what you do is watch for contraction of the bands. They measure volatility so when they tighten volatility is low therefore you can expect it to increase soon. Exits with the opposite band are also something I used them for. What you do is in an upmove you follow the opposite band (the one price is not hugging) and watch for a change of direction in it, this tells you the move is over. Im attaching a chart with the squeeze and the exit using the oposite band. Hope this helps your question. "I am a bit skeptical since the rules for using them a very simple, and although I am a firm believer in KISS principle, the rules for using them are almost primitive." The fact that a tool is simple is not a detriment to its utility. Trendlines are a perfect example of that. Dont think that simplicity means unusefull and most importantly dont ever think that a tool that is complex is more usefull. Hope this helps and answers some questions. Piscuy