RSI is an indicator and just follow the price. You should be patient and wait for a clear break of its trend line. Maybe sometimes, you should wait to see how the first candle acts after the breakout and after that take your trade. But remember that we only use indicators to support what we have already established with price action.
An important tip is that you should not chase the trades. When you chase a trade, your entry will be at a bad spot. So…, Let them come to you.
RSI is one of the most popular and widely used technical indicators that provides us with many ways to generate buy and sell signals.
It can also be used to tell the general state of the market in question by identifying areas where the market is overbought and oversold.
The many ways to use the RSI makes it a flexible tool that can be used in various ways in varying market conditions.
This MACD Candles MT4 Forex Trading Strategy is lag price because they are a derivative of price but it’s a good tool to interpret what price has done and what price will potentially do.
Using this trading system combined with price action offers a more complete way of approaching your trading charts.
With that, you hope your probability of trading success in the long term increases and you begin to take trades that have a higher odds of giving you some traction into positive territory.
You need to understand that TRADING is a DISCIPLINE.
It is a LONG-TERM GAME OF PROBABILITIES, you will win some trades, you will lose on some trades, but as long as you a disciplined enough to stick to your trading system and strategy, to not be emotionally attached to your losses, or worse your wins, you will tend to make more winning trades than losing trades and nett a profit.
Again, keeping your Forex Trading Mindset right is the outcome of always taking a conscious effort to practice, manage, and control your emotions when it comes to trading.
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This strategy is an excellent strategy that allows a trader to squeeze out big pips with very minimal risk. This allows traders to get trades with great reward-risk ratios.
This is the best trend trading strategy for all timeframes. The goal here is to determine the trend direction and when to enter or exit a trade.
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