Where Should I Place a StopLoss Gold Order using Bollinger Bands Gold Indicator?

Determining Where Should You Place a StopLoss XAUUSD Order using Bollinger Bands Gold Technical Indicator?

Bollinger Bands Technical Indicator

Bollinger bands xauusd technical indicator use standard deviation as a measure of volatility. Since standard deviation technical indicator is a measure of volatility, the bands are self adjusting meaning they widen during periods of higher volatility and contract during periods of lower volatility.

Bollinger Bands consist of 3 bands designed to encompass the majority of a trading instruments xauusd price action. The middle band is the basis for the intermediate trend, typically it is a 20 period simple moving average, which also serves as a base for the upper band as well as the lower band. Upper band's distance and lower band's distance from the middle band is usually determined by volatility.

Since these Bollinger bands are used to encompass the trading instrument xauusd price action, the bollinger bands can be used by traders to set stop loss orders just outside the areas of the bands.

Where Should I place a Stop Loss Gold Order using Bollinger Bands XAUUSD Indicator? - How to Set a Stop Loss Gold Order using Bollinger Bands Technical Indicator