Forex Videos

This video talks about a Forex trading strategy when trading with the RSI is to implement what is called a Swing failure approach. As you can see in the chart, the market reached extreme prices and the RSI indicator entered in to overbought level, at this specific situation Price made a high and a new high, however the RSI only entered the overbought high corresponding to the first high and did not reenter overbought again. The RSI failed to enter overbought area again and once the price breaks below the low as you can see in the chart, it is called as a complete failure swing. A sell entry is taken when the price breaks this low and stoploss is place above the swing high and profit target at new low.
It also explains you how to take long trades using the same complete swing failure.
For long trades we draw the trend line on the RSI indicator connecting the highs, waiting for the RSI to break above the trend line, then buy and stoploss below the swing low. This technique is used by scalpers on 5 min chart, day traders on hourly chart and long term traders on daily chart.