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The RSI Trade

  • #241
  • Feb 10, 2009 7:49am Feb 10, 2009 7:49am
Kareem. All those price tags up the side of your chart look like a sailing regatta all ready for the off.
We could be breaking that trendline down now.
short at 12977 after rejection of the pivot point and a break of the trendline under rsi14. just need the 55 line to break and down. very tight stop on this. the trendline is on the m15 by the way and the 61.8 fib level from the big move down last night hasn't held price up.
I'm only trying this as I made 60 this morning so can use some as a stop as I fancy this down. I should really wait for the m15 to close but just see it going.
Andy
  • #242
  • Feb 10, 2009 7:58am Feb 10, 2009 7:58am
Quoting andypips
Kareem. All those price tags up the side of your chart look like a sailing regatta all ready for the off.
We could be breaking that trendline down now.
short at 12977 after rejection of the pivot point and a break of the trendline under rsi14. just need the 55 line to break and down. very tight stop on this. the trendline is on the m15 by the way and the 61.8 fib level from the big move down last night hasn't held price up.
I'm only trying this as I made 60 this morning so can use some as a stop as I fancy this down. I should really wait for...
Hey Andy,
I have to fix these tags...too many you are right. 60 is very nice. If I get 60, I am usually done for the day. Thats a very good day. I am getting worried about this market now. Its waiting for news and when it does that it tend to get very choppy, but I have watching these lines with you. And yes FF is acting funny today
Trade Garlic
  • #243
  • Feb 10, 2009 8:14am Feb 10, 2009 8:14am
60 and some more last night but only small stakes. just looking for some more now on this one while risking 20 (stop at 12977). I'm back on the tools for 2 days tmw and thur so wanted to make the most of today without throwing the winnings away. See how the lwma is holding the rsi down at the mo.
andy
  • #244
  • Feb 10, 2009 8:19am Feb 10, 2009 8:19am
The newest trend line is holding so far
Attached Image (click to enlarge)
Click to Enlarge Name: $EURUSD 2_10_2009 (5 Min).jpg Size: 156 KB
Trade Garlic
  • #245
  • Feb 10, 2009 8:25am Feb 10, 2009 8:25am
I'm out of that for +6. saw +20 at one point but was hopeing for more. that lines broken up now kareem and may try 3000 again.
andy
  • #246
  • Feb 10, 2009 8:52am Feb 10, 2009 8:52am
Choppy...but broke it and make the pips. I did not take this one.
Attached Image (click to enlarge)
Click to Enlarge Name: $EURUSD 2_10_2009 (5 Min).jpg Size: 164 KB
Trade Garlic
  • #247
  • Feb 10, 2009 9:46am Feb 10, 2009 9:46am
Just sold on a divergence
Attached Image (click to enlarge)
Click to Enlarge Name: $EURUSD 2_10_2009 (5 Min).jpg Size: 166 KB
Trade Garlic
  • #248
  • Feb 10, 2009 11:19am Feb 10, 2009 11:19am
Break here, buy, bounce sell
Attached Image (click to enlarge)
Click to Enlarge Name: $EURUSD 2_10_2009 (5 Min).jpg Size: 161 KB
Trade Garlic
  • #249
  • Feb 10, 2009 3:13pm Feb 10, 2009 3:13pm
Hi Kareem
My post after yours where you sold on a divergence has disappeared.
Strange, I saw it there unlike some posts that are gone when the server rejects it.
How did you get on selling on that divergence?
Andy
  • #250
  • Feb 10, 2009 3:37pm Feb 10, 2009 3:37pm
Quoting andypips
Hi Kareem
My post after yours where you sold on a divergence has disappeared.
Strange, I saw it there unlike some posts that are gone when the server rejects it.
How did you get on selling on that divergence?
Andy
FF posts are acting very funny today.
Trade Garlic
  • #251
  • Feb 10, 2009 3:39pm Feb 10, 2009 3:39pm
Quoting andypips
Hi Kareem
My post after yours where you sold on a divergence has disappeared.
Strange, I saw it there unlike some posts that are gone when the server rejects it.
How did you get on selling on that divergence?
Andy
That divergence was the very top of the day (US).
I took profits way too early...still a good day.
Trade Garlic
  • #252
  • Feb 10, 2009 4:38pm Feb 10, 2009 4:38pm
Looks good so far
Attached Image (click to enlarge)
Click to Enlarge Name: $EURUSD 2_10_2009 (5 Min).jpg Size: 162 KB
Trade Garlic
  • #253
  • Feb 11, 2009 4:05am Feb 11, 2009 4:05am
Short from 1.2951... stop to b/e in a pip or two...
Attached Image (click to enlarge)
Click to Enlarge Name: $EURUSD 11_02_2009 (5 Min).jpg Size: 123 KB
  • #254
  • Feb 11, 2009 4:12am Feb 11, 2009 4:12am
i got in the same place,looks like a downward move
Attached Image (click to enlarge)
Click to Enlarge Name: eur7.gif Size: 21 KB
  • #255
  • Feb 11, 2009 4:15am Feb 11, 2009 4:15am
... ping ! Stopped at b/e (actually +1 and +2), probably a perfect example of moving the stop to b/e too soon, ie. not giving the trade enough room to breathe... however, there has been a steady 5min uptrend this morning (sideways on 240 & daily), so it was a counter-trend trade requiring max defense.

The "easy to see with hindsight" solution was to have noticed that the swing high had RSI divergence, then formed a "double top lower high" and to have sold around 63 with room for a +20 partial profit. One of these days...
  • #256
  • Feb 11, 2009 7:04am Feb 11, 2009 7:04am
Quoting jtrade
... ping ! Stopped at b/e (actually +1 and +2), probably a perfect example of moving the stop to b/e too soon, ie. not giving the trade enough room to breathe... however, there has been a steady 5min uptrend this morning (sideways on 240 & daily), so it was a counter-trend trade requiring max defense.

The "easy to see with hindsight" solution was to have noticed that the swing high had RSI divergence, then formed a "double top lower high" and to have sold around 63 with room for a +20 partial profit. One of these days...
Jtrade, I get many BE stops. Actually my goal on each and every trade is to be at break even. I know it sounds strange, but every day I trade just to protect my capital. I only started winning after I did this.
Kareem
Trade Garlic
  • #257
  • Feb 11, 2009 7:24am Feb 11, 2009 7:24am
Great post, kareem40.

  • #258
  • Feb 11, 2009 12:53pm Feb 11, 2009 12:53pm
Two breaks today. The last one worked very well.
Attached Image (click to enlarge)
Click to Enlarge Name: $EURUSD 2_11_2009 3 (5 Min).jpg Size: 175 KB
Trade Garlic
  • #259
  • Feb 11, 2009 1:13pm Feb 11, 2009 1:13pm
I just watching. Got my target for the day.
But it does look good!
Attached Image (click to enlarge)
Click to Enlarge Name: $EURUSD 2_11_2009 (5 Min).jpg Size: 168 KB
Trade Garlic
  • #260
  • Feb 11, 2009 1:20pm Feb 11, 2009 1:20pm
Since this thread focuses on the RSI I was hoping someone could help me.

Is it possible to code the attached indi it so it alerts on the OUTER levels (30/70, 60/40, etc, or any level you set it for), not just the 50 level?

I like this indi alot, and I highly recommend it. It picks out the extreme highs & lows really well, which is why I would like the alert to be re-coded for those levels and not the 50.

Many thanks in advance!
Attached File(s)
File Type: mq4 RSI-TC_NEW.mq4   5 KB | 910 downloads
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