DislikedI'm going to explain another indicator based techniques for those who don't have the experience in charting.
I call it " Buy dip, Sell High based on RSI extreme"
The concept: trade in the direction of the larger trend, buying into an uptrend and selling into a downtrend.
1-Look at daily chart and RSI (14) indicator, if RSI>50 your set up is taking Long if RSI<50 your set up is Short.
2-Look at Hr chart, when RSI<30 in Long set up ,take long...Ignored
shahab8b
Thank you for this. I will have a look and try this technique for a couple of weeks to see how it works.
What kind of success rate have you achieved with it?