50EMA-BB Gimmee Bar System: How to Trade The GIMMEE BAR Pattern in Trending Market

Gimmee Bar is a price action reversal candle formation. When price trades above or below the Bollinger bands and immediately closes within the Bollinger bands, it is a Gimmee bar setup.

Entry point is when price breaks the high or low of the Gimmee Bar.

This is a powerful price action trading strategy. The Gimmee Bar pattern identifies and marks the entry points in chart.

This being a counter trend strategy. If a Gimme bar is formed at the Bollinger band top, open short position when the price breaks below the Gimmee Bar low. Buy when Gimmee Bar is formed at the bottom of the Bollinger Bands and setup bar’s high is broken.

 

• Download “ForexWOT-50EMABBGimmeeBarSystem” (Zip/RAR File).
• Copy mq4 and ex4 files to your Metatrader Directory …/experts/indicators/
• Copy the “ForexWOT-50EMABBGimmeeBarSystem.tpl” file (template) to your Metatrader Directory …/templates /
• Start or restart your Metatrader Client.
• Select Chart and Timeframe where you want to test your forex system.
• Right-click on your trading chart and hover on “Template”.
• Move right to select “ForexWOT-50EMABBGimmeeBarSystem” trading system and strategy.
• You will see the “ForexWOT-50EMABBGimmeeBarSystem” is available on your Chart.

Here are the steps to using this  50EMA-BB Gimmee Bar trading system and strategy:

•  Plot a 50-period Exponential Moving Average (SMA) to determine the overall price trend.
• Add the Bollinge BAnds indicator.

 

• The mid-band is above the 50 EMA.
• Price must tag the lower Bollinger Band.
• Wait for a bar that closes higher than open. (This is the Bullish Bollinger Bands Breakout-Reversal Price Action pattern, the Bullish Gimmee Bar).
• Buy one tick above the Bullish Gimmee Bar.oversold).

 

SELL signal when;

•  The the mid-band is below the 50 EMA.
• Price must tag the upper Bollinger Band.
• Wait for a bar that closes lower than open. this your bearish Gimmee Bar signal.
• Sell one tick below the bearish Gimmee Bar.overbouught)

 

How do you apply this “wonderful strategy” to your trading without risking your trading capital? Don’t forget, always start with a demo account. It is the best way to learn a new trading strategy without losing money.