EURUSD PROFIT

EURUSD PROFIT
2nd May 2018 contacttf
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.

The entry was made as I could see volume picking up.

In all fairness, I did not have my eye on the Twitter to review the US data feed.

If I did not have so many losses recently, I would have seen this through. Trade closed manually.

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.

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