From early May to late July, the bollinger bands of XJO had widened showing volatile market, while from early August, the bands have been contracting showing stabilising market.
Probabilitically, if the candle gets off from the bands, more likely it gets back inside the bands.
e.g. 68.2% for one standard deviation bollinger bands, 95.4% for two standard deviations, etc.
At the moment, the market is not clear where to go IMO.
When the bollinger bands start widening again with the candles above the middle of the bands, i.e., the average, it will more likely be bullish, otherwise, i.e., below the middle, becomes bearish.
Have a wonderful weekend and be happy!
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