Shardy's Day Trading Journey - Day 15

Hope everyone had a great weekend, don't know about you but it feels good to be behind the charts again! Today was a great start to the week up $450 to start.

I want to discuss the use of Bolinger Bands, a new strategy I have been using. Basically, I am using the bands to show me when price has made a pullback. This could be up or down. In the chart you will see that price pulled back up to the top bolinger band (white dashed line). Now there is no real way of knowing when to sell you just need to use your best judgement or hopefully there is a trendline in place to help guide you in your trade. Today this is the only strategy I traded and it worked out great, tomorrow could be a different day. 

In this case the sell formed and as you can see price steadily went down. Alternatively, you could have used this same strategy to buy at the bottom of the bolinger band. This is a very simple way of trading the swings as price gets stressed out in a certain direction. Again please remember the bands are not 100% accurate and do require perfect timing.