We can make by our self a Forex trading system or we also can buy a strategy. If we want to build our own trading system it needs time, research and long back testing. Good trading results during back testing is the indication of the quality of a trading strategy. The best Forex system can works in any market situation. A good Forex trading strategy has a good risk management.
You can use any time frame chart for this strategy. GBPUSD, EURUSD, AUDUSD, USDJPY, USDCHF are the recommended pair for RSI trading system. First you just put on your trading chart 14 period Relative Strength Index and set RSI levels at 30 and 70.
RSI trading system rules
- Bearish trading signal when Relative Strength index indicator crosses above 70 level, and then crosses down 70 level
- Bullish trading signal when Relative Strength index indicator crosses below 30 level and then crosses above 30 level
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