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.