Ep 85: Stock Snap Backs, Retracements, & Bollinger Bands
★ SUMMARY ★
In this lesson, what we’ll really focus on is more so why stocks snap back, and then of course more on Bollinger bands, a little bit on the basics of it.
We’ll talk a little bit on retracements because it kind of fits together, but we’ve talked about retracements and Fibonacci sequences in other modules, so in here, what I’d like to do is concentrate a little more on Bollinger bands, the basics behind them, but again, we’re only covering the basics.
I’ll probably need to do a more in depth, full lesson on just Bollinger bands. However, I think it’s more important that you concentrate and focus on price action, behavior, the volume of the stock, and the overall bigger picture, because that in the end matters much more.
The Bollinger bands are still lagging indicators, and it’s just an indicator that you can glance over. All those other indicators that are fancy and popular, they’re mostly lagging indicators and they’re driven from the price, the price spread, the range of that price, where it opens and closes, and it comes together and uses also volume and the basics behind that stock, and it creates a little bit of an indicator for you.
So in essence, if you know how to read price, the way that prices move, the range of those bars along with volume, you have all the indicators that you need. You really do.
We’ll just cover a little bit of these Bollinger bands and just give you some basics and then maybe in the future I’ll do a more in depth analysis of Bollinger bands.
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