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The RSI Trade

  • #581
  • Nov 26, 2009 7:44pm Nov 26, 2009 7:44pm
I am setting up for this one. Very nice Risk/Reward (RR).
Kareem
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Trade Garlic
  • #582
  • Nov 26, 2009 8:15pm Nov 26, 2009 8:15pm
Look how nice rsi break trendline and retest it : short two lots at the low of yestarday candle.
Thnks
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  • #583
  • Nov 27, 2009 2:27am Nov 27, 2009 2:27am
e/u is going down quickly,will it be up soon?
  • #584
  • Nov 27, 2009 3:42am Nov 27, 2009 3:42am
maybe e/u will be uptrend soon.http://www.forexfactory.com/attachme...1&d=1259314885
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  • #585
  • Nov 27, 2009 7:02am Nov 27, 2009 7:02am
It did break, but in my sleep. I missed it.
Kareem
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Trade Garlic
  • #586
  • Nov 27, 2009 9:14am Nov 27, 2009 9:14am
Quoting gsfx
Look how nice rsi break trendline and retest it : short two lots at the low of yestarday candle.
Thnks
Hi gsfx,
I do use the line re-test for quick 20 pip scalps. They seem to work well.
Thanks for the post.
Kareem
Trade Garlic
  • #587
  • Nov 27, 2009 11:05am Nov 27, 2009 11:05am
Actualy I use s/r or stoch (10,3,3) overbought/oversell , or divergence to close one lot, and let the other lot run ,with sl at break even.
Thanks
  • #588
  • Nov 27, 2009 1:25pm Nov 27, 2009 1:25pm
If like to hold over the weekend. Short EURUSD looks promising.
Kareem
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Trade Garlic
  • #589
  • Nov 27, 2009 1:56pm Nov 27, 2009 1:56pm
Hi Kareem, was taking a hard look at that this evening myself, I decided to wait untill 61 fib level has been breached..

Rebel
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  • #590
  • Nov 27, 2009 7:22pm Nov 27, 2009 7:22pm
maybe i have to wait at this point,how to predict next direction?
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  • #591
  • Nov 28, 2009 5:30am Nov 28, 2009 5:30am
Hi Kareem,
I have just checked out your RSI (21) on my stocks
- ALL my RSI S/R levels, which are the basis of my trading do not work, so most of what I have previously posted will be meaningless

Conclusion: Stocks and FX are two entirely different animals
Sorry for wasting your time

Trade well
Peterhttp://cdn.forexfactory.com/images/icons/icon14.gif
  • #592
  • Nov 28, 2009 8:13am Nov 28, 2009 8:13am
I actually went ahead and took the trade, short EURUSD. It seems as a low risk trade. Also I feel as many will run to the USD now. I usually don't trade over the weekend, but this one felt good. I guess we will know Sunday night!
Kareem
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Trade Garlic
  • #593
  • Nov 28, 2009 8:20am Nov 28, 2009 8:20am
Quoting lizpet
Hi Kareem,
I have just checked out your RSI (21) on my stocks
- ALL my RSI S/R levels, which are the basis of my trading do not work, so most of what I have previously posted will be meaningless

Conclusion: Stocks and FX are two entirely different animals
Sorry for wasting your time

Trade well
Peterhttp://cdn.forexfactory.com/images/icons/icon14.gif
I have your levels on and will watch them on my end. But as you know a chart is a chart and trader will be traders..greedy and fearfull in stocks, grains or Forex. So I disgree with you, they work and work well. Your posts are very helpful, and I thank you for them. I hope you stay a part of this thread. Good trading.
Kareem
Trade Garlic
  • #594
  • Nov 28, 2009 12:16pm Nov 28, 2009 12:16pm
Quoting kareem40
I actually went ahead and took the trade, short EURUSD. It seems as a low risk trade. Also I feel as many will run to the USD now. I usually don't trade over the weekend, but this one felt good. I guess we will know Sunday night!
Kareem

Hi Kareem ! You have remaind at the 1 hr chart ? You look at the bigger timeframe for your trade decision ?
Usually I don't trade eurusd , but look at the yellow trendline how price respect it ,and rsi the 50 level .
Thanks , hope you understand "my" english
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  • #595
  • Nov 28, 2009 1:54pm Nov 28, 2009 1:54pm
Quoting gsfx
Hi Kareem ! You have remaind at the 1 hr chart ? You look at the bigger timeframe for your trade decision ?
Usually I don't trade eurusd , but look at the yellow trendline how price respect it ,and rsi the 50 level .
Thanks , hope you understand "my" english
I am still trying to decide between 1 and 2H charts. I do still look at the daily and 4H, but not for entries and Exists. I cannot get a 2H chart on MT4. I did use the FXCM 2H charting/trading account, but could not easily get the pictures posted. So, for now I am with MT4 (IBFX) using the 1H charts. I don't think I will go back to the smaller time frames, such as 5M. I found that I get too many false set ups and tend to over trade. As for my EURUSD short. I also liked the fundamentals behind that trade. I believe the US markets are due for a small drop (correction) and a strong dollar will help make that happen. I was just waiting for a set up Friday.
By the Way your english is great.
Kareem
Trade Garlic
  • #596
  • Nov 28, 2009 2:55pm Nov 28, 2009 2:55pm
Me too I've pass from the 15 min at daily , still having another job,at least until my micro account grow a little
If you need a 2hour chart in mt4 ,give a look at this thread
http://www.forexfactory.com/showthre...419#post136419
  • #597
  • Nov 29, 2009 3:11am Nov 29, 2009 3:11am
Hi Kareem,

You can get any time period for MT4, all you need is the Period Converter. If you do a google search you will find it and it is free.

dave
  • #598
  • Nov 29, 2009 8:06am Nov 29, 2009 8:06am
Quoting Dave1
Hi Kareem,

You can get any time period for MT4, all you need is the Period Converter. If you do a google search you will find it and it is free.

dave
Thanks Dave and gsfx. I did find one.
Kareem
Trade Garlic
  • #599
  • Nov 29, 2009 9:43am Nov 29, 2009 9:43am
eurjpy setup... possible downside movement...
only monday can tell the setup is correct or not...

Edit: actually every pair work with RSI divergence...
My time frames, 30 minute and 4 hour...
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ABCD..
  • #600
  • Nov 29, 2009 10:30am Nov 29, 2009 10:30am
Quoting sreeprakash
eurjpy setup... possible downside movement...
only monday can tell the setup is correct or not...

Edit: actually every pair work with RSI divergence...
My time frames, 30 minute and 4 hour...
Hi Sreeprakash,
Interesting set up. Thanks for the post.
Kareem
Trade Garlic
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