Here is a technical chart of EURUSD currency pair on Doda-Donchain and Doda-Bollinger Bands indicator.
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On 21-Oct-2011, Doda-Donchian gave buy signal with Doda-Bollinger Bands @1.38087 and till now, it resulted on a profit of more than 100 pips. But one thing is here on which I’m not comfortable – the flat line of Doda-Donchain. That means, price may come to this level and kiss it. The level is at 1.38073. So, watch this level carefully for immediate support for it.
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I understand that I should wait until the second candle forms above/below the crosshair before entering a trade. Is there also a certain number of pips that price should move past the crosshair before entering?
Hello,
There is no criteria of no. of pips movement. Just wait for the CLOSING of candle above / below the line for the signal.
Hope it will help you.
Admin
Hi, plz let me know weather we have to consider these support & resistance before entering ????
For entering in trade, check Doda-donchian line and Doda-Bollinger bands line. These support and resistance lines can be used for stop-loss and profit booking.
Hope it will help you.
Admin