Simple RSI & MACD Trading

Well, that wasn't my initial thought. I just picked up the pieces and put them together.

I wonder if this will be a winning strategy in the future! I just noticed the positive results it has given me over the past year!

Here's how:

Currencies: EUR/USD, GBP/USD, EUR/JPY, GBP/JPY

Time range: 1 hour

Indicators: RSI (7), MACD DOT (5,200,3)

Buy signal: After the RSI (7) touches the 25 level from below, wait for the first blue MACD point to appear and then buy.

Exit buy:

1. When the RSI touches the 75 level from below; or
2. Use Fib level or
3. Use daily support and resistance pivots or
4. Jump stop loss or
5. Trailing Stop or any other method that suits you

Sell ​​signal: After RSI (7) touches the 75 level from above, wait for the first red MACD point to appear, and then sell.

Exit selling:

1. When RSI touches 25 or
2. Use Fib level or
3. Use daily support and resistance pivots or
4. Jump stop loss or
5. Trailing Stop or any other method that suits you

24 hours trading. Please use the link below to get screenshots:

http://my.jetscreenshot.com/3623/20100623-kmpn-268kb

NOTE: Please start on the left and follow the comments to get ideas. In my example, you will see three (3) short entries to reach SL. However, those losing trades can be avoided with the functionality of Trailing Stop or Jump Stop.

Money management:

I use a hard stop loss of 50 pips. You adjust based on your risk level.

Note: You may want to use H1 or the direction of SMA 200 on the daily chart or any other way to filter out losing trades. I didn't use it. Constructive suggestions are welcome.

That's it! Nothing more!

victor