RSI Day Trading Strategy

RSI Day Trading Strategy is a trading system based on RSI indicator based on oversold and owerbougth area.
Time Frame 5 min or 15 min.
Currency pairs: USD/CAD, GBP/USD, EUR/USD, USD/JPY, GBP/JPY.
Session trading: Tokyo, London and New York.
Forex Indicators
Aggressive setting
RSI 9 period with levels 70 and 30.
MA of RSI smoothed 4 period, close.
Conservative setting
RSI 9 period with levels 80 and 20.
Moving average of RSI Smoothed 4 period.
Trading rules: RSI Day Trading Strategy
Buy
When the RSI go below 30 level wait for crosses upward MA smoothed.
Profit Target 5 min 5-10 pips.
Initials stop loss 8-10 pips below the entry bar.
15 min time frame profit target 10 -15 pips
Initials stop loss 12-15 pips below the entry bar.
Sell
When the RSI go above 70 level wait for crosses downward MA smoothed.
Profit Targe t 5 min 5-10 pips.
Initials stop loss 8-10 pips above the entry bar.
15 min time frame profit target 10 -15 pips
Initials stop loss 12-15 pips above the entry bar.
RSI Day Trading Strategy strategy, in a strong trend, can generate false signals.
This strategy is very simple and suitable for beginners.
RSI Day Trading Strategy

RSI Day Trading Strategy

RSI Day Trading Strategy

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