Rsi forex scalping method

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With these, Forex scalpers can use the RSI indicator to identify the beginning of market trends and when these trends come to an end. This will enable you to collect as many pips as possible. Similarly, the price charts could be forming lower lows while the RSI is forming higher lows. Both these scenarios can be used as a short term signal of a trend reversal. For a Forex scalper, an uptrend can be spotted when the RSI is forming higher lows. Set the RSI Indicator period to 5 and use the 1-minute timeframe.

When the RSI forms the first higher low just above 30, open a long position. A series of higher lows is an indicator that the price is on an uptrend. You can open a long trade when the first higher low forms above Exit the trade when the RSI forms a higher low just above For the downtrend, open a short trade can be initiated when the first lower high is formed. This trade can be closed when a lower high is formed just around With this strategy, the average number of pips that can be earned is 5 pips.

To properly execute the scalping breakout strategy, make sure always to check the prevailing trend on the longer timeframes. The reason for this is that the trends in longer timeframes are made up of shorter timeframe trends. To trade breakouts, set the RSI indicator period to 2.

Close the trade when the line reaches the level. Before scalping the bullish breakout on a 1-minute chart with the RSI, ensure that the 5-minute price chart shows an uptrend. To trade a bearish breakout, open a short position when the RSI crosses below Close the position when the RSI indicator reaches the 0. Before scalping the bearish breakout on a 1-minute chart with the RSI, ensure that the 5-minute price chart is on a downtrend. When scalping breakouts using the RSI indicator, the average number of pips expected is 6.

RSI Scalping strategy set up We make use of the 2 period RSI which is set to closing prices and we also readjust the overbought and oversold levels to 90 and 10 instead of the typical 70 and By keeping the RSI to a very sensitive 2, we aim to capture prices moves as and when they happen. In order to filter for trends, we make use of a 55 period EMA set to closing prices.

A long signal is triggered when prices retrace back to or near to the 55 EMA while the RSI oscillator rises from below Stop loss is placed at the most recent low while take profit can be set to 2 or 3 times the stop loss depending on market volatility. The first chart below illustrates the long example using the 2 period RSI scalping strategy. A short position is taken here while take profits are targeted to 2 times the stops. Stop losses are placed at the most recent high.

The chart below illustrates a short set up example using the RSI scalping strategy RSI Scalping Strategy — Short set up example Prices were previously trading above the 55 EMA and then cut across the 55 EMA from above We wait for RSI to rally back to above 90 and then dip back from this over bought level When the 2 period RSI falls back from above 90, a short position is taken at the low of the signal candle Stops are placed at the most recent high, marked with number 4 Take profit is set to 2 times the risk RSI Scalping Strategy — Room for Improvement The RSI scalping strategy is simple as demonstrated above, but it is also prone to occasional losses.

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In order to filter for trends, we make use of a 55 period EMA set to closing prices. A long signal is triggered when prices retrace back to or near to the 55 EMA while the RSI oscillator rises from below Stop loss is placed at the most recent low while take profit can be set to 2 or 3 times the stop loss depending on market volatility. The first chart below illustrates the long example using the 2 period RSI scalping strategy. A short position is taken here while take profits are targeted to 2 times the stops.

Stop losses are placed at the most recent high. The chart below illustrates a short set up example using the RSI scalping strategy RSI Scalping Strategy — Short set up example Prices were previously trading above the 55 EMA and then cut across the 55 EMA from above We wait for RSI to rally back to above 90 and then dip back from this over bought level When the 2 period RSI falls back from above 90, a short position is taken at the low of the signal candle Stops are placed at the most recent high, marked with number 4 Take profit is set to 2 times the risk RSI Scalping Strategy — Room for Improvement The RSI scalping strategy is simple as demonstrated above, but it is also prone to occasional losses.

Traders are recommended to manage their positions by booking profits at risk reward and leaving the remainder of the trade to exit at risk reward. The slope of the EMA also plays a role in the success of this trading strategy.

Filtering out the trend losing momentum. Timing the position entry. EMA exponential moving averages periods 20 green and 60 red. Purpose: Both indicators are used in tandem as standard trend identification method. Place all of the above indicators in the 5 minute chart of any major currency pair. This will be interpreted as an uptrend in our current timeframe 5 minutes. While this situation lasts we will only take long trades.

RSI crossed 70 line into overbought zone. We will enter the trade long on bullish candle close, placing stop loss below the low marked by the last closed bullish fractal. Take profit: Distance between entry and stop loss is mirrored also for take profit.

Strategy uses stop loss that equals take profit. This will be interpreted as a downtrend in our current timeframe 5 minutes.