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EURCHF LOSS

20th July 2017 contacttf

The relative strength index (RSI) is most commonly used to indicate temporary overbought or oversold conditions in a market. An intraday forex trading strategy can be devised to take advantage of indications from the RSI that a market is overextended and therefore likely to retrace

I got back into EURCHF again. The price was floating above the cloud.

I was hoping for a quick drop.

Trade did not work as expected. I am getting a beating. Three losses in a row today.

With news pending at 12:45 BST, I will wait for market to settle, if I decide to get in again.

The Relative Strength Index (RSI), developed by J. Welles Wilder, is a momentum oscillator that measures the speed and change of price movements. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.