RSI bounce tactic

Hi im new to this forum, i use rsi of 4, 14, 60 . Buy when 14 crosses 60 .Sell when 14 crosses below 60.

Also when the 14 doesnt manage to cross below the 60 but bounces off it then its a good oppurtunity to buy rather than sell.

http://i389.photobucket.com/albums/o...sibounce-2.jpg

hi,Welcome to FF, have you been useing this system long, what are your results, also what part does the RSI 4 play in the system,
what time frame and pairs have you been useing.

Danny

is there any other filter ?

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rsi divergence

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I use 3 graphs 30min, 5min, 1min. 30min for long term trend 5min for short term and 1 minute for placing order only.

When 14RSI on 30 min hits the 60RSI , on the 1minute and 5minute graph you will get either a short movement against the direction of the RSI on 30min and then eventually continuing the move.This can be used for scalping.This is when the 14 rsi crosses the 60rsi.

or
if the RSI bounces off the 60 rsi on the 30min you get a continued price movement in the opposite direction of the bounce.


4rsi - 4rsi crossover is used on 14. for buying entry. on 1minute graph.
OR you can use it on the 30min graph if your conservative.

Looks good, how have your results been.. also what pair do you trade.

Danny