RSI Trading Indicator 📉📉📉🎯 RSI - Relative Strenght Index
What Is the Relative Strength Index (RSI)?
The relative strength index (RSI) is a momentum indicator used in technical analysis that measures the magnitude of recent price changes to evaluate overbought or oversold conditions in the price of a stock or other asset. The RSI is displayed as an oscillator (a line graph that moves between two extremes) and can have a reading from 0 to 100.
Traditional interpretation and usage of the RSI are that values of 70 or above indicate that a security is becoming overbought or overvalued and may be primed for a trend reversal or corrective pullback in price. An RSI reading of 30 or below indicates an oversold or undervalued condition (kindly see the photos attached)
Forex_signals
Survival Rules in TRADING 📉📉📉‼️ Survival rules in trading for newbies, if you respect those rules i can make a bet you wound't lose your account as the majority of traders are.
‼️ The key word there is IF YOU RESPECT
✅ 1. Always trade with a stop loss
✅ 2. Have a pre-determined risk on each trade no more then 1%
✅ 3. Don't move your stop loss if the price is not going in your favour
✅ 4. Don't add to losing positions, only viceversa. Add to your winning positions
✅ 5. You have to increase your risk only if you are in profit on your account, decrease your risk when you are losing and increase it when you are winning.
Hope that was usefull for your trading plan.
Liquidity Concept 📈Hi guys! I would like to briefly explain my strategy, I use liquidity to understand where should market go .
🏦 Liquidity is basically a zone in the market where a lot of stops are located both retail/ institutional, I will look to enter near that area but only after the manipulation on the buy-side or sell-side liquidity to all my trades with "Smart Money". as known as "Wall Street"
You can separate the Liquidity Concepts in two areas.
✅ Buy Side Liquidity - area of the price where sellers put their stop loss, its located on old highs, equal highs (Resistance) above double tops, above key psychological numbers
✅ Sell Side Liquidity - area of the price where buyers put their stop losses, usually below old lows, below equal lows(support), below psychological key levels.
‼️ REMEMBER
Dumb Money sell at high
Smart Money SELL ABOVE THE HIGH
Dumb Money buy at low
Smart Money BUY BELOW THE LOW
Using this concept as i explained you will have less stop losses because you will allign your trades with institutional orderflow.
AUDCAD, H4 Technical AnalysisAUDCAD on a uptrend in H4 timeframe with bullish channel. Above the upper Higher High there's a daily down trendline working on. Daily down trendline working as a dynamic support level. We are hoping a reversal of a down trend to major support level. We are waiting for structure breakout of Lower High level and a valid retest of it.
🎯 Trading Plan Questions I will try to show you in this post how my intra-day trading plan works and what exactly do i use in terms of risk,pairs,timeframes.
✅ What are my trading goals ?
My intraday trading goal is to close the day in GREEN, but if i see no opportunities i dont push the buttons just to get to a profitabile day.
Focus on making 1% a day this means 22% a month that is a lot just do your math and understand the power of consistency
✅ What timeframe do i use ?
My intra-day timeframes that i am using are H1/M30/M15 you need to
know which is your higher timeframe and execution time frame for me its M15, neither higher or lower.
✅ How long to hold trades ?
Usually in 80% of the trades i hit the stop loss or take profit order before the day ends, i can left a open position overnight only if it's secured risk.
✅ Which Currency Pairs to follow ?
As you are trading intra-day you need volatility and low spreads, i trade the most volatilite instruments such as nasdaq, gold, oil, gbpusd, gbpjpy, bitcoin on the session opening as the spread is lower during those hours.
✅ What is the Risk per Trade ?
When you are starting an intra-day account you have to know first of all what will be the risk you take in every trade, the session risk and finally the daily risk.
It's very important to RESPECT the daily risk rule as this keeps you in the game when the market conditions are bad.
What is your Trading Plan ??
EURUSD, monthly and semi-annual developmentsThe price after arriving in B1 of the monthly decided to follow the cycle by looking for the MML H4 in A1.
The B1 of the half year has been exceeded for a while, now we can only wait for the price to decline again towards new lows in A1 of the same cycle, and we would find the first interesting level at 1.1065.
The MCS is going to narrow the channel of excess weakness, confirming the fact that 1.1065 could trigger the half-yearly buy signal (for now only a hypothesis remains).
An alternative view would be the restart of the uptrend right near the MML H4 it has just touched, setting the half-yearly report in 3 times.
GBP/JPY Outlook (14 February 2022)Overall, GBP/JPY is ranging across. Recently, GBP/JPY broke below the key level of 147 after the escalation of the Russia-Ukraine geopolitical tension, leading to the strengthening of JPY.
The Preliminary GDP q/q data (Actual: 1.0%, Forecast: 1.1%, Previous: 1.1% revised from 1.3%) released last Friday indicated a slight slowdown in economic growth during the fourth quarter of 2021.
Currently, GBP/JPY is bouncing off the support zone of 156.000 and the next resistance zone is at 158.000.
Look for short-term selling opportunities of GBP/JPY only if it trades below the support zone of 156.000.
🪙Gold: Major Sell Idea On Daily Chart.Patience is the key on waiting for Gold to hit my high Resistance key area forming a Head and Shoulders pattern, obviously going short. Also, break of bullish trendline. Stop Loss is above Resistance Area. Take Profit levels are as shown. Feedback will be highly appreciated.
EURCAD short position.Enter sell position with risk of 2% of portfolio.
1st target set at @ 1.43575
2nd target set at @ 1.41683
Set stop loss above the resistance area, close position in loss if a confirmation candle closed above the resistance in the hourly time frame.
*Confirmation Candle: happens when the candle is > 50% of the complete shape (wicks and candle)
Good luck.
GBPUSD WEEKLY PREDICTION Looking at the GBP/USD, I saw the old highs of the 1D candlesticks less than previous prices you can see those small boxes I drew each high lower than previous we should have a downtrend in long term and again I might not be right I'm not a market maker we might have temporarily uptrends
GBPJPY is on Bull Trend from Past 2 weeksOverall, GBP/JPY is trending upwards. Recently, GBP/JPY trended into the resistance zone of 156.000.
UK banks will be closed today in observance of New Year’s Day. Expect lower trading volume and volatility during the usual UK market hours.
Currently, GBP/JPY is testing the resistance zone of 156.000 and the next support zone is at 151.800.
Look for buying opportunities of GBP/JPY if it breaks the resistance zone of 156.000.