Bollinger Band BreachesThis chart represents breaches of the bottom bollinger band by the FTSE 100. The FTSE100 is represented here by the CUKX.L asset. On each breach a long entry with a 2-3% profit target yields a profitable outcome. My observation is that the market generally recovers in excess of the 2-3% target price within 10-14 days maximum. In adverse events, where the market continues to fall and there is a further breach before the price target is hit, this strategy requires the another entry into the position (with the same price target with the first trade). I am publishing this idea so that I have this chart saved online, this is not the finalised form, and requires some tweaks and further analysis. Welcome thoughts and critiques.
Long