Bollinger Bands are useful for several reasons
There are no dumb questions in trading, we’re all students. Bollinger Bands are useful for several reasons:
1. Volatility Measurement📊: When bands widen during high volatility.
2. Trend Identification📈: They help identify trend direction based on price movement relative to the bands.
3. Overbought/Oversold Signals ⚖️: Prices at the upper band suggest overbought conditions, while the lower band indicates oversold. I use this a lot.
If I see many likes 💚I’ll be happy to post educational tweets, I’ve seen technical questions this weekend, happy to help.
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