Support
and Resistance Reversal Trading with RSI has as purpose of
catch the reversal moviment. The tool that use for this are support
and resistance line, RSI and strong reversal pattern.
Time
Frame 15 min or higher.
Currency
pairs: any.
Forex
indicators:
RSI
(9) period with level 30 and 70.
Rules
Support and Resistance Reversal Trading with RSI
Buy
Draw
lines of support
Wait for price bounce on the support level.
Wait that the price formed reversal bullish candle as pin bar, bullish engulfing and the others.
RSI cross 30 level from the oversold zone.
Wait for price bounce on the support level.
Wait that the price formed reversal bullish candle as pin bar, bullish engulfing and the others.
RSI cross 30 level from the oversold zone.
Sell
Draw lines of resistance
Wait for price bounce on the resistance level.
Wait that the price formed reversal bearish candle as pin bar, bullish engulfing and the others.
RSI cross 70 level from the overbought zone.
Draw lines of resistance
Wait for price bounce on the resistance level.
Wait that the price formed reversal bearish candle as pin bar, bullish engulfing and the others.
RSI cross 70 level from the overbought zone.
In
the first example on the chart, there are five reversal trades that
according to this strategy bullish/Bearish reversal candle RS
crosses from oversold/overboht area.
The
same strategy with MT4.
Indicators:
SR
lines.
Candlestic
pattern ( set:
show the strong and weak reversal pattern)
below
the link for download Support and Resistance Reversal Trading with
RSI- SR indicator, CandlesticK pattern indicator MT4 and Template:
https://drive.google.com/file/d/0Bwjv2Pbf48itakRJTEp4dDRGN2M/view?usp=sharing
Post a Comment