Forex VPS
Link https://www.cryptoder.com/en
Forex VPS
ForexFunction Logo

"Forex trading involves a high level of risk"

Forex VPS
 Forex Live Heat Map |  Market Comments |  Technical Indicator Signals |  Cross Pair Rates |  Live Spread |  Live Charts |  Daily Pivot Points
Simple RSI Trading Strategy with Candlestick - Forex Function

Simple RSI Trading Strategy with Candlestick

Last Update: 31 December,2015
Print PDF

This is very simple trading strategy of RSI with the help of candlestick. For following this strategy you need to learn about reversible candle. Click here to know about candlestick

Required Indicators:
1) RSI. click here to know, how to set RSI

How to get buy signal
First RSI needs to cross 30 level from lower to upper. At the same time, bullish reversible candle need to be formed for confirmation of the buy signal. Pin bar can be preferable as good reversal candle.
Check the chart example of below picture, on first buy setup, RSI was above 30 level and pin bar was formed at the time. So it was good buy setup. We can see that after buy entry price moved 220 pips. So with simple buy setup trader would get 220 pips profit.
On the second buy setup, RSI crossed 30 level and bullish engulfing pattern was formed. This was another perfect buy setup according to this simple RSI strategy. Traders also would get 200+ pips from this strategy.

rsi_trading-strategy

How to get Sell signal
First RSI needs to cross 70 level from upper to lower. At the same time, bearish reversible candle need to be formed for confirmation of the sell signal. Pin bar can be preferable as good reversal candle.
Check the chart example of below picture, on sell setup, RSI crossed 70 and at the same time, bearish candle was formed. So this was good sell setup.

forex-trading-strategy-of-rsi

Preferred Time frame: H4 is preferable. M30 and H1 for scalping.

Currency pairs: All pairs.

Take profit and Stop loss:Take profit should be based on time frame. Minimum take profit 30 pips, you can target 50-200 pips profit.
Stop loss need to be placed above swing high for sell signal and below swing low for buy signal.

Risk warning: You need to avoid ranging market during following this strategy. You have to follow money management theory for following this trendy strategy. Before using this strategy, you need to practice this on demo account.


Submit Your Comments:

 Forex Trading VPS


FOREX VPS FOR TRADERS

FF FOREX VPS
Windows 2012R2/2016 | Server Location Amsterdam, France, Canada | Low Latency From Brokers| Super Fast Trading Experience | All types of EA supported | 3 Days Money Back Guarantee

Plan NameBuy Link CPU RAM Disk BandWidth Price (Montly)Price (Quarterly)Price (Semi-Annually )Price (Annually) InstallationBackUpSetup Fee
ECO-01 buy now1 Core 756MB 18GB Unmetered $4.99/M$4.49/M$3.99/M $2.99/M MT4 Pre-InstalledYesFree
ECO-02 buy now 1 Core 1GB 22GB Unmetered $5.99/M$5.49/M$4.99/M $3.99/M MT4 Pre-InstalledYesFree
ECO-03buy now 2 Core 2GB 30GB Unmetered $9.99/M$9.49/M$8.99/M$7.99/M MT4 Pre-InstalledYesFree
ECO-04 buy now2 Core 3GB 32GB Unmetered $13.99/M$13.49/M$12.99/M $11.99/M MT4 Pre-InstalledYesFree
ECO-05buy now 3 Core 4GB 40GB Unmetered $17.99/M $17.49/M$16.99/M$15.99/MMT4 Pre-InstalledYesFree
ECO-06 buy now 3 Core 5GB 45GB Unmetered$21.99/M $21.49/M$20.99/M$19.99/MMT4 Pre-InstalledYesFree

***We accept Paypal, Perfect Money, Bitcoin !