GBPUSD, 21/10/15 @09:45 GMT

SELL@1.5411 SL@1.5490 TP@1.5310 <------ Price levels are INDICATIVE! FOLLOW THE CRITERIA!

…..OR….

BUY@1.5497 SL@1.5415 TP@1.5800 <------ Price levels are INDICATIVE! FOLLOW THE CRITERIA!

Monitor the pair from H4 Time-Frame where Bollinger BANDS have formed a BOTTLENECK and we expect a BREAKOUT.

Before you SELL, make sure that :

1. A Bearish H4 Candlestick has closed below the Lower BBAND.
2. Median BBAND , Tenkan SEN (ICHIMOKU Red Line) and Kijun Sen (ICHIMOKU Blue Line) are sloping DOWN.
3. Chikou Span (ICHIMOKU Green Line) is going straight DOWN.
4. Stochastics are going DOWN.
5. Upper/Lower BBANDS Edges are turned outwards forming a FUNNEL.

STAY IN while H4 Candlesticks close below Tenkan Sen. EXIT when a Bullish H4 Candlestick closes above Tenkan Sen.

TRAIL your SL (optionally) 20pips above Kijun Sen Plateaus.

Before you BUY, make sure that :

1. A Bullish H4 Candlestick has closed above the Upper BBAND.
2. Median BBAND , Tenkan SEN and Kijun Sen are sloping UP.
3. Chikou Span has crossed above past price action, going straight UP.
4. Stochastics are going UP.
5. Upper/Lower BBANDS Edges are turned outwards forming a FUNNEL.

STAY IN while H4 Candlesticks close above Tenkan Sen. EXIT when a Bearish H4 Candlestick closes below Tenkan Sen. RE-ENTER when a strong Bullish Candlestick closes above BOTH Tenkan Sen and Kijun Sen with BOTH Tenkan Sen, Kijun Sen and Median BBAND sloping UPwards.

TRAIL your SL 20pips below Kijun Sen Plateaus.

Happy pips!

Sofia

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