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111# 4H RSI Trading Method MultitimeFrame

RSI indicator Trading Method

Submit by Kerry 23/09/2013

 

This Trading system is based on the RSI
indicator
on 4H chart and Daily Chart.

 

Daily chart determine the trade. If RSI indicator (8) periods on daily Chart >50, only
buy, if RSI indicator (8) periods, on daily Chart <50 only Sell.

Tradind Rules for 4H RSI Trading Method MultitimeFrame

 

Time Frame 4H and daiy.

Currency pairs: any,

 

Forex indicators:

RSI Indicator (8) periods.

EMA Channel formed by two exponentials moving everages 25 periods (high and
low).

 

Long entry:

Buy only when RSI indicator is above level 50 at Daily
TimeFrame

 

Candle closed above 25 EMA
and the last two candles must bull candles (blue candles).

RSI 8 at 4hr must be above level 50. 

Short Entry

Sell only when RSI
indicator
is below level 50 at Daily TimeFrame

Candle closed below 25 EMA
and the last two candles must bear candles (blue candles).

RSI 8 at 4hr must be belw level 50.

 

 

Exit position:

Take profit Ratio 1.4 Stop loss.

Profit Target on the support and resistance lines.

Profit Target predetermined that depends by currency pairs.

Initial stop loss on the previous swing, after 40 pips in gain move stop loss at the entry
point.

September 3rd, RSI 8> 50 on the TF Daily, only buy  on the 4H TF.

4H RSI Trading Method MultitimeFrame
4H RSI Trading Method MultitimeFrame

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