Bollinger Bands (BB) - Hammer/ Stars

15 min BB & Hammer, A Big thing for me..

I Like simple things. The thing which have worked 80% of time for me is a Hammer on BB, but the BB should be either on 15 min chart for Intraday or on Weekly chart for Positional trading.
15 min time frame (TF) is what i also keep an eye on in addition to 5 min TF. If I will choose a single rule for Day trading, this is it for me..

But few Ground rules -
1) Context must be Favourable, at least not opposite.
2) It should be a Tag on BB.
3) Hammer only needs to look like hammer, no criterion for 2/3rd close etc. It should just display that Buyers/ Sellers have got active.
4) Colour of Hammer Matters to set Entry & Targets.
5) Do look for Space/ Fluids.

Addons :
1) If  > 1 hammer spotted, Better !!
2) Lesser the number of candles on Left side of Hammer, Better !!
3) If Coincides with DP, Better !!

SL -  2~4 pts below hammer/ any pivot
Exit - As per your rules. My favourite is a Tag on opposite BB in 5 min.

Entry -
1) on Break of Hammer High/ Low
2) If retraced before breaking Hi/Lo, wait till it touches 50% of Hammer, then enter at any Bullish/ Bearish candle.

Now lets see how it looks with examples:-
1) Today's Inverted Hammer coincided with BOF in 5 min. Could be entered at 50%

2) Few days back - 2 Trades with good signals for Intraday

3) Hammers & that too twice on LBB, then a Star on UBB

4) Weekly Chart- Star on LBB , then 2 Hammers, then a Hammer worked. A Star on UBB that didn't work (See, too many candles on left side of Star).

Now Grab some charts & enjoy the weekend. 

Remember, Nothing works 100% &  Not the Car, but Driver wins the Race !!