At the risk of chart picking, i personally find the RSI is not too bad at locating market extremes, as i found today when i was choosing my entry for the eur/gbp no touch bet.
This was the Eur/GBP M5 this afternoon to late evening (GMT). In terms of volatility, typically the big moves of the day have happened and price tends to settle down abit i find. there is also less news in this period.
For the daily bets that I am making, I enter my trade anytime after 5pm GMT. I find that buying the no touch bets on the extremes (as defined by RSI >70) is very helpful in pushing your no touch level further away from price action, making it marginally "safer".
The areas highlighted are good areas to think about entering into a bearish no touch bet for the day.
This is latest update to my strategy and I will be using it the future.
All the best,
Ben
This was the Eur/GBP M5 this afternoon to late evening (GMT). In terms of volatility, typically the big moves of the day have happened and price tends to settle down abit i find. there is also less news in this period.
For the daily bets that I am making, I enter my trade anytime after 5pm GMT. I find that buying the no touch bets on the extremes (as defined by RSI >70) is very helpful in pushing your no touch level further away from price action, making it marginally "safer".
The areas highlighted are good areas to think about entering into a bearish no touch bet for the day.
This is latest update to my strategy and I will be using it the future.
All the best,
Ben