rsi explained
Post on 24-Jun-2015
582 Views
Preview:
TRANSCRIPT
RSI Rollercoaster Recipe
1 hour chart RSI standard setting of 14
Let RSI drop 30 or rise above 70
RR Long Trade
RSI closes <30 Then
Closes > 30 Go Long at market stop @ 50 target 33
RR Short Trade
RSI closes > 70 Then
Closes < 70 Go Short at market stop @ 50 target 33
RSI Rollercostaaaahhhhhh …..
That’s The Standard RSI Set Up
But You Can Be a Bit More Nuanced
You Don’t Need to Wait Until <70 You Can Trade The Change in Delta
i.e.
RSI =71 Then RSI =75
Then RSI =73 (GO Short Here!)
Questions
Questions
One Key Thing to Remember Examples are for GBP/USD
But Different Pairs Have Different Vol. My Suggestion for Stops/Limits
GBP/USD = 50/33 EUR/USD = 40/25 AUD/USD = 40/25 USD/JPY = 30/20
Questions
Last Thing to Remember RSI Rollercoaster Will Fail Miserably in Strong Trending
Market
So Its Best To Trade Portfolio Approach To Dampen Drawdown
GBP/USD EUR/USD AUD/USD USD/JPY
top related