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RSI Strategy

  • #81
  • Aug 3, 2014 2:48pm Aug 3, 2014 2:48pm
Thanks! Can you give more details on this? Will this filter delay other trading setups? How does it work exactly ? Excuse me, thanks for your effort!
  • #82
  • Aug 3, 2014 2:56pm Aug 3, 2014 2:56pm
Quoting Go5
{quote} Hello, nice strategy! As a posible filter, may I suggest the Kijun Sen: on the one minute you would need at least, say 10 pip distance (easy to see with the Kijun) before considering a trade; the bad one mentioned above would automatically be dismissed. {image}
Ah I think I got it, do you suggest to use the Kijun Sen line only as a filter? I mean if the distance is too tight, avoid the trade, and if the distance is OK, take the trade? Do you suggest Kinko Hyo default settings?
  • #83
  • Aug 3, 2014 3:16pm Aug 3, 2014 3:16pm
Quoting mindfreak87
{quote} Ah I think I got it, do you suggest to use the Kijun Sen line only as a filter? I mean if the distance is too tight, avoid the trade, and if the distance is OK, take the trade? Do you suggest Kinko Hyo default settings?
Yes, only as filter and standard 26 setting. I often juse it as TS-guide also.
  • #84
  • Aug 3, 2014 5:14pm Aug 3, 2014 5:14pm
Quoting Go5
{quote} Hello, nice strategy! As a posible filter, may I suggest the Kijun Sen: on the one minute you would need at least, say 10 pip distance (easy to see with the Kijun) before considering a trade; the bad one mentioned above would automatically be dismissed. {image}
Go5, mind to share your template? Thanks
Patience, let the market come to you!
  • #85
  • Aug 3, 2014 11:04pm Aug 3, 2014 11:04pm
First live trade on an RSI 1M continuation pattern into the 1hr supply level.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDM1 TL1 4.8.14.png Size: 73 KB
  • #86
  • Aug 4, 2014 12:16am Aug 4, 2014 12:16am
Did you make money shorting it too? I see 5m was at extreme and the move was a bit too far. Keep me posted about counter trades too

  • #87
  • Aug 4, 2014 2:35am Aug 4, 2014 2:35am
Hello mindfreak,
i have spotted this setup on GBPJPY on frankfurt open.
PA goes againist for about 9 pip then doubled position an manage to grab some good pip.
I entered with some confidence because I think GBPJPY is weak from July start...
One question for you : when you double position? when price goes againist for X? pip?
Sorry for my bad English :-(
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM1.png Size: 43 KB
  • #88
  • Aug 4, 2014 2:40am Aug 4, 2014 2:40am
Quoting naked_v
Hello mindfreak, i have spotted this setup on GBPJPY on frankfurt open. PA goes againist for about 9 pip then doubled position an manage to grab some good pip. I entered with some confidence because I think GBPJPY is weak from July start... One question for you : when you double position? when price goes againist for X? pip? Sorry for my bad English :-( {image}
Perfect! This is example of trades that go against you and require another position, like AU today after the news spike to .30, when you double up make sure to close both positions in profit, adding up every x pips depends on volatility and timeframe, and pair.
  • #89
  • Aug 4, 2014 2:40am Aug 4, 2014 2:40am
I've used RSI as a major indicator on when to buy and short the major currencies. This is nothing new........ RSI is well known in the forex trading community
  • #90
  • Aug 4, 2014 2:47am Aug 4, 2014 2:47am
Quoting yeniful
I've used RSI as a major indicator on when to buy and short the major currencies. This is nothing new........ RSI is well known in the forex trading community
Indeed!!
  • #91
  • Aug 4, 2014 3:09am Aug 4, 2014 3:09am
Some pips on EURGBP and EURUSD .... at London open. On EURGBP i'm waiting a bit for better entry...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURGBPM1.png Size: 34 KB
Click to Enlarge Name: EURUSDM1.png Size: 42 KB
  • #92
  • Aug 4, 2014 3:37am Aug 4, 2014 3:37am
I made the same trade on EURGBP from x81 but missed EURUSD trade, I added to EURGBP when it went against me and closed both for nice 3pips. !
  • #93
  • Aug 4, 2014 3:40am Aug 4, 2014 3:40am
Quoting mindfreak87
I made the same trade on EURGBP from x81 but missed EURUSD trade, I added to EURGBP when it went against me and closed both for nice 3pips. !
Dam, wasn't watching EURGBP… missed that one… I think that one will end up being a big swing trade on H4 too..
  • #94
  • Aug 4, 2014 3:50am Aug 4, 2014 3:50am
There's a high probability that it drops another 10-20 pips as its returning from same condition on 4hr, but I do not like EG because it's slow. Best to scalp it!

Positive day so far.. still awaiting more movement (unlikely to happen on Monday tho)
  • #95
  • Aug 4, 2014 3:57am Aug 4, 2014 3:57am
Quoting mindfreak87
There's a high probability that it drops another 10-20 pips as its returning from same condition on 4hr, but I do not like EG because it's slow. Best to scalp it! Positive day so far.. still awaiting more movement (unlikely to happen on Monday tho)

yea best to scalp.. euro is looking stronger than gbp now tho hmmmm
  • #96
  • Aug 4, 2014 4:03am Aug 4, 2014 4:03am
Missed USDCAD as well...
Attached Image (click to enlarge)
Click to Enlarge Name: FxPro - MetaTrader 4.png Size: 136 KB
  • #97
  • Aug 4, 2014 4:06am Aug 4, 2014 4:06am
Anyone caught this kiwi trade?
Attached Image (click to enlarge)
Click to Enlarge Name: FxPro - MetaTrader 4.png Size: 130 KB
  • #98
  • Aug 4, 2014 4:10am Aug 4, 2014 4:10am
My fingers was frozen at this time because my focal interpretation suggest me to wait a bit ...... missed :-( waiting another setup to coming....
Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSDM1.png Size: 43 KB
  • #99
  • Aug 4, 2014 4:11am Aug 4, 2014 4:11am
Quoting mindfreak87
Anyone caught this kiwi trade? {image}
I did
  • #100
  • Aug 4, 2014 4:15am Aug 4, 2014 4:15am
It happens, it takes time to pull the trigger quickly especially on 1min charts. The markets will not close, there will be more and more setups.
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