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Attachments: The RSI Trade
Exit Attachments

The RSI Trade

Both EJ and EU fullfilled their destiny...
I got 98 pips on EJ, stop loss was 10 pips... Closed on 133.01...
Not traded EU... It was only an analysis or idea...

See the link above to see the chart of EJ...
ABCD..
GBPUSD Short 1.6355, SL 1.6370, No Target actually... Maybe 100 pips... Take care...
Attached Image (click to enlarge)
Click to Enlarge Name: gbp.gif Size: 19 KB
ABCD..
SL on entry, free run now...
ABCD..
Closed on 6330.. It was a good trade, went down to 6315, did not expected it will return.. Realized after the re-break of weekly support and closed the trade...
ABCD..
Quoting sreeprakash
Closed on 6330.. It was a good trade, went down to 6315, did not expected it will return.. Realized after the re-break of weekly support and closed the trade...
Great trading, keep the post coming..
Hi sreeprakash, please read answers below. By the way nice trading.

1.
I am currently working with the 1H chart. Seems to work well for me. I still like the 4H charts, but trade smaller position and bigger stops when trading it.
My stop loss is somewhere between 60-100 pips. I just look at price levels when placing stops

2.
I enter as soon as I see the price break. My RSI is set on close.

3.
I no longer use the 5M TF. I still see it working most of the time but I have day time work and just started to trade stocks as well. Just 1-4H TF and again stop at the next price S/R. I set firm rules to entry, but very subjective about my exits. As someone said once. Entries are science, Exits are art!

Again thank you for posting.
Arb-Trader
Quoting kareem40
Hi sreeprakash, please read answers below. By the way nice trading.
Thanks very much kareem bro.
It cleared my doubts...

Also thanks to rebel....


Kareem bro, actually I also using 4 hour, but the thing is I have to use big stop loss... PA sometimes go to half of the price and returns or dont go to my favour first.. But the breakout in 4 hour is done... What I can see, PA completes target in 1-3 days perfectly...

Currently I am using 5 minute for entry in the 4 hour timeframe... In 5 minute, we can see when price is going to return... The trendline indicator shows trendlines in both timeframe, so that if one trendline break/reverse I check the 4 hour RSI and trendlines, then I enter...

Main chart trendline break/reverse, RSI trendline break/reverse, I enter...

Working good...

Thanks again kareem bro and rebel....

Edit: If we use 5 minute trendline/RSI break/reverse for entry, we only need little stop loss....
The above EJ I traded with 10-15 pips sl for 98 pips target...
ABCD..
  • Post #628
  • Quote
  • Edited at 9:49pm Dec 7, 2009 9:20pm | Edited at 9:49pm
GBPUSD Sold on 6462 sl 6475..

4 hour chart, RSI is reversing, see the sign...

5 minute chart, see the sign in chart and RSI.. Trendline break to above rejected in Price.. RSI breaked for down... On 5 minute we can see RSI reversing on the channel...

So far going good...
Attached Image (click to enlarge)
Click to Enlarge Name: gbp2.gif Size: 17 KB
Attached Image
ABCD..
So far it went down to 6428 from 6462, 34 pips.. But I have to blame my internet provider... Gladly I given trailing stop and it get activated on 6460, so I am letting the trade to run...
ABCD..
Closed +8 pips...
ABCD..
GBPUSD

The 5 minute chart showing gbp is playing in a narrow range...
Also the 21 LWMA telling the breakout is not good.. Wait for RSI and MA combined breakout...

4 Hour telling that breakout for uptrend... But after checking 5 minute, PA tells us wait sometime...
Attached Image
ABCD..
wanna insert lwma together with rsi. i cant do it
  • Post #633
  • Quote
  • Edited at 1:58am Dec 8, 2009 1:39am | Edited at 1:58am
GBPUSD Update...

In the above post I was hoping for an uptrend.. But soon I realized it is probably a downside movement... So I given a short on 6447, sl on 6475.

It went straight up, to 6460, but sl not hit...
According to the trendlines, it reversed and breaked daily pivot on 6429...
My internet connection was playing bigtime, the pair reached 6379, but I was only able to close on 6398.. Got 49 pips... better than nothing...

Pic attached, see the signs of entry......

mamulid, from the Indicators section, drag the Moving Average to RSI window... Then in the parameters of MA box, select 21 period, MA Method : Linear Weighted, then Apply to: Previous Indicators Data.... then click OK..

do it for 1-3 times and you can understand...
Attached Image
ABCD..
Hey guys tokk this one this morning .. came out with only 25 pips, should have held on for the kiss off the top trend line..
Attached Image (click to enlarge)
Click to Enlarge Name: 15.gif Size: 18 KB
Quoting rebelheart
Hey guys tokk this one this morning .. came out with only 25 pips, should have held on for the kiss off the top trend line..


Nice one Rebel...
ABCD..
Quoting rebelheart
Hey guys tokk this one this morning .. came out with only 25 pips, should have held on for the kiss off the top trend line..
yes a nice trade. Notice stoch had a divergence as well.
Kareem
Arb-Trader
Quoting sreeprakash
GBPUSD Update...

In the above post I was hoping for an uptrend.. But soon I realized it is probably a downside movement... So I given a short on 6447, sl on 6475.

It went straight up, to 6460, but sl not hit...
According to the trendlines, it reversed and breaked daily pivot on 6429...
My internet connection was playing bigtime, the pair reached 6379, but I was only able to close on 6398.. Got 49 pips... better than nothing...

Pic attached, see the signs of entry......

mamulid, from the Indicators section, drag the Moving Average...
I like you idea of watching both the short and long term charts for the break.
Thanks for the post.
Kareem
Arb-Trader
Just ont brave enough too take this short.. Rsi bouncing off 0 level..
Attached Image (click to enlarge)
Click to Enlarge Name: 15.gif Size: 17 KB
This one is now running...
Entry 6290, SL moved to entry now.. TP set according to daily chart 6125, but dont know it go there...

Edit: See RSI reversed, MA not crossed at that time, Now MA is going to cross or will reverse there...

Thanks karim bro, currently I am first checking higher timeframe and use lower timeframe to enter the trade..
Attached Image (click to enlarge)
Click to Enlarge Name: gbp.gif Size: 21 KB
ABCD..
Five mins later and im kicking myself..
Attached Image (click to enlarge)
Click to Enlarge Name: 15.gif Size: 17 KB
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