Scalping With RSI

Discussion in 'Trading Systems and Strategies' started by totom, Dec 11, 2016.

  1. totom

    totom Trader

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    Hello respective forex traders,

    Today I'd like to share my simple scalping strategy using RSI. Unfortunately it isn't a perfect one that you could automate it and leave it to farm pips for you but you must wait 'till a time and you do it the manual way.

    Following is the main rule:
    • Wait 'till market is moving enough for example Euro opening
    • Apply RSI on the 15 minutes chart
    • Wait 'till it reached level of 70
    • Wait 'till it down again and down pass level of 50
    • Open a sell order with Take Profit is 1/5 of Stop Loss
    • Do the opposite for buy order
    Please remember to don't too many trades but 1-2 winning trade.
    Please do this strategy on your own risk as you're already a big forex trader.

    For the example please refer to following video:


    Thank you for reading my post, I hope it's work for you and happy trading!
     
    HamzaYakoob likes this.
  2. rod r cameron

    rod r cameron Newbie

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    wow that.s a great system
     

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