Contrarian W Hook Trade: Long

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Scan Description: BOLLINGER BAND HOOK CONTRARIAN STRATEGY: 1. BB (20,2) W bottom (Double bottom)- line chart, 1 bottom outside band and 2nd inside band. 2. RSI (3,3) (Over Sold less than 30). 3. ADX(7) > 40 4. BUY trade- Need price line 2nd low-W bottom to be lower than 1st. i.e price double bottom show lower and RSI show higher bottom. Classical +ve RSI divergence. 5. Buy at high of 2nd candle. If divergence bar (2nd candle) is significantly long or near to BB average line, DO NOT trade. 6. May confirm with SHOOT Stochastics (4,3,2) cross over strategy but not necessary. 7. Never trade without RSI divergence.

Contrarian W Hook Trade: Long

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