Bollinger Bands are a popular technical analysis tool used by traders. They consist of a middle band, which is usually a simple moving average, and two outer bands that are a certain number of standard deviations away from the middle band. Bollinger Bands can help traders identify potential overbought and oversold conditions, as well as trend reversals. When the price moves close to the upper band, it may indicate overbought conditions, while a move close to the lower band may suggest oversold conditions. Traders can use Bollinger Bands in conjunction with other technical indicators to make more informed trading decisions. By understanding how Bollinger Bands work, traders can gain an edge in the market and improve their trading results.
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