Use RSI to buy dip and sell high (Buy dip sell high with rsi) - MT4/MT5 resources
Hello everyone,
After so many trials and errors, I finally found a method that worked for me and I understood how the Forex market works.
I want to give back what I've learned to this community
The Forex market is open 24 hours a day, so time does not matter, price does
People always say buy low and sell high, but there is no correct method and technique,,,, how to get in and what are the signals? ? ?
All indicators fail, not exactly if you know how to use it properly I have attached a chart, if anyone finds it useful then I will continue with the details, if not then I stop
Market Structure = Failure of key setups is the trade that loses the most money
As we all know, trend law Uptrend = a series of HH & HL ,,, 1 HH does not form a trend Downtrend and vice versa, 1 LL does not form a trend
You don't need to select top and bottom
Structural points and price are key
There's nothing better than chart structure. That's what the pros do. Charts are built on structure just like buildings. So price levels are the structure. It's the price agreement differences that drive the market. All other factors don't matter.
Our job is to make money taking advantage of the failures and successes of these actions. The market reacts to these points. These points tell us where the market is going.
RSI is just for visualization purposes to keep us in the right direction of the market,
This method works best when every session is open. When price breaks through these indicated levels, some buy and sell in bulk. Other times, just sideways market. Don't trade. It's just a waste of your time and money.
I use range bars, (10pips) bars to minimize intraday risk
Range Bar Filters out the Noise Range Bar provides price and easy viewing of market action
If the price doesn't change, maybe 4 hours? ? ? So why should we focus on 2 hour, 4 hour, 15 minute, 30 minute charts? ? ?
When does the price stop moving? ? ? ?
We only care about price
Uptrend: Support above 55EMA and 100EMA = Buy only if Stops are below recent support Downtrend: Resistance below 55EMA and 100EMA = Only Sell SL above recent resistance
Don’t trade breakouts, breakouts are a bad idea
Markets never move in a straight line
After higher/higher, what’s next? ? ?
After low/low, what’s next? ? ?
If you can spot the red and green candles then you know where to enter and place your SL
Ok, attached only RENKOLIVECHART_3.2 EA to 1 minute chart...
Then click "File - Open Offline Chart" to find and open the M2 of the pair and apply the template and you're ready to rock
cheers,
Kevin
After so many trials and errors, I finally found a method that worked for me and I understood how the Forex market works.
I want to give back what I've learned to this community
The Forex market is open 24 hours a day, so time does not matter, price does
People always say buy low and sell high, but there is no correct method and technique,,,, how to get in and what are the signals? ? ?
All indicators fail, not exactly if you know how to use it properly I have attached a chart, if anyone finds it useful then I will continue with the details, if not then I stop
Market Structure = Failure of key setups is the trade that loses the most money
As we all know, trend law Uptrend = a series of HH & HL ,,, 1 HH does not form a trend Downtrend and vice versa, 1 LL does not form a trend
You don't need to select top and bottom
Structural points and price are key
There's nothing better than chart structure. That's what the pros do. Charts are built on structure just like buildings. So price levels are the structure. It's the price agreement differences that drive the market. All other factors don't matter.
Our job is to make money taking advantage of the failures and successes of these actions. The market reacts to these points. These points tell us where the market is going.
RSI is just for visualization purposes to keep us in the right direction of the market,
This method works best when every session is open. When price breaks through these indicated levels, some buy and sell in bulk. Other times, just sideways market. Don't trade. It's just a waste of your time and money.
I use range bars, (10pips) bars to minimize intraday risk
Range Bar Filters out the Noise Range Bar provides price and easy viewing of market action
If the price doesn't change, maybe 4 hours? ? ? So why should we focus on 2 hour, 4 hour, 15 minute, 30 minute charts? ? ?
When does the price stop moving? ? ? ?
We only care about price
Uptrend: Support above 55EMA and 100EMA = Buy only if Stops are below recent support Downtrend: Resistance below 55EMA and 100EMA = Only Sell SL above recent resistance
Don’t trade breakouts, breakouts are a bad idea
Markets never move in a straight line
After higher/higher, what’s next? ? ?
After low/low, what’s next? ? ?
If you can spot the red and green candles then you know where to enter and place your SL
Ok, attached only RENKOLIVECHART_3.2 EA to 1 minute chart...
Then click "File - Open Offline Chart" to find and open the M2 of the pair and apply the template and you're ready to rock
cheers,
Kevin
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