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The RSI rollercoaster in my opinion is one of the safest trading strategies, because combines a clever use of the stop-loss at points that guarantee receiving a good percentage in profit. It is particularly good when you do middle term trading, and you have regular jobs which impede being in front of the charts regularly. Nevertheless there is one situation about...
Hey guys, this is an update to the EURJPY setup I posted last week. We are right there at the bottom of the triangle. What is interesting to me is the formation of an RSI bamm at Friday's closing price. Pattern Identification RSI Bamm at bottom of triangle. RSI Bamm is the formation of a W/M structure at RSI oversold/overbought where this is considered a...
Hello Traders! As many of you know, I use the Stoch RSI as my main cycle indicator. As an indicator of an indicator, it normalizes the RSI indicator itself and provides excellent guidance on the price cycles of Gold. And while I base my daily analysis on the Daily time frame, I use 2 shorter time frames to enter my positions. These time frames are 30 minutes and...
A simple trade using a harmonic three drive and RSI. Entry for the trade has already gone. But it could be useful to point to the setups and conditions around it, because it provide a great example of combining high probability technicals to initiate a trade. The price provided a great shorting opportunity after completing a three drives pattern around 1.0770...
This is a Daryl Guppy approach; Safe trades;