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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

RSI Day Trading Strategy Reviewed by learn forex trading on June 26, 2017 Rating: 5

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