Forex XO4H 10 Bollinger Bands Retest Trading System

What is XO4H 10 Bollinger Bands Retest System and what is the best time of day to trade forex with this trading system?

The XO4H 10 Bollinger Bands Retest System is a simple price action strategy anyone can trade on almost any time frame.

 

Retests in the Forex market come in all shapes and sizes.

They can come after a market breaks a key level of support or resistance or a breakout from a wedge pattern.

Regardless of how or where the retest occurs, the characteristics are the same.

The image below illustrates a few of the various ways retests can occur.

The chart above shows the USDJPY currency pair in the Daily timeframe and you can see those two indicators (OX4H, Evelop, and Bollinger Bands) indicating that the market was in a downtrend, uptrend, and downtrend again.

In a downtrend, the price moved down but later it came back up to touch the envelope lines that was broken and then bounced down from there.

In an uptrend, the price moved up but later it came back down to touch the envelope lines that was broken and then bounced up from there.

These resets are needed as the balance between buyers and sellers is in constant flux.

This ever-changing balance is what creates swing highs and swing lows.

It goes without saying that whenever you BUY or SELL you are looking for a move in the intended direction.

But in order for the market to do that, it needs a fresh set of buyers or sellers.

Otherwise, you will find yourself BUYING at the TOP and SELLING at the BOTTOM.

 

In an uptrend, the price moved up but later it came back down to touch the envelope lines that was broken and then bounced up from there.

• WPR line upward and above -50
• OX4H blue color

 

In an uptrend, the price moved up but later it came back down to touch the envelope lines that was broken and then bounced up from there.

• WPR line downward and below -50
• OX4H red color

The XO4H 10 Bollinger Bands Retest System is a simple price action strategy anyone can trade on ALMOST ANY TIME FRAME.

 

From a non-technical perspective, the practice of waiting for a retest teaches you patience as a Forex trader.

It does this by forcing you to wait for a favorable entry rather than simply entering at the first available opportunity.

If you get yourself in the habit of always waiting for the retest, it will soon become second nature.

 

As it becomes second nature you will begin to find that you are less anxious about what the market might do and more focused on what the market is doing.

Patience is arguably the most important quality you can have as a Forex trader and one that will surely have a positive impact on your trading.

And teaching yourself to always wait for a retest is a great way to develop that quality.

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