Here’s One Way To Use Bollinger Bands In Your Trading

Royal Caribbean Cruises
(RCL) took out its opening high and
recorded a new high of the day
shortly after 10:30 AM as you can see below on the 5-minute chart. Notice it
formed a bullish wide range bar.

11:07:24 (From TradersWire)



Action

Symbol

Order Type

Setup

Stop

 Target

Current Price

Posted By

Buy

RCL buy stop at 44.38 pullback 44.23 44.60 44.36

TK

The stock nicely followed through to
the upside, but it was not a good place to buy. RCL moved well above the upper
Bollinger band, and it was too far away from the center line. Eventually, RCL
pulled back near its 61.8% retracement level, and I decided to place a buy stop
at 44.38.

11:18:08

Follow up on RCL (Pt 2)

It has hit our target price. Sell the remaining shares, or move stop to 44.48.

T.Kamada

Feel free to mail me your
questions.