Trade the forex market wikipedia


Now in this shot, what I’ve done is I’ve added a moving average to the RSI indicator strategy. So this is a 9 period moving average, the black line of the RSI Indicator. So all that does is smooth it out a little bit, and because it is a moving average, it will be a little lagging. But it doesn’t create all of these jagged lines. That’s option if you want it or not. You don’t have to use that. But again, you’ll see the signals watching those different horizontal lines as to where it is.

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You can’t trade any indicators. So RSI, stochastics, MACD, CCI, whatever you 8767 re trading, none of them can be traded alone. Each one of them is a tool, and that’s it. That’s all they are. So use it as one piece of evidence, one tool in your toolbox. These are called indicators, they are not called moneymakers, and there’s a reason for that because they don’t make us any money.  They are just simply, there’s nothing magical about indicators. They are just mathematical formulas. That’s all they are.

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That 8767 s why for some of you, it may seem like you’re always on the wrong side of the trade, that everything always goes against you.

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In this case, the market does go up a little bit, goes back up to 55 MA which is the red line. But that’s not really a major big trade. What happens after that is the market comes down and makes a much lower low. And again RSI gets supposedly oversold. So the point is this, what you’d rather do, so I will get into little bit of what you want to do, you want to do the exact opposite of that. You don’t want to be just buying oversold signals all the time. You want to take those as bearish, and trade in the dominant energy, or the dominant direction of the market.

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The signal is exactly the OPPOSITE of how you may have been taught. No, that’s a bearish signal because that’s showing the strength to the downside.

The other line to put on here are at 65 and at 95. These are very significant. So this is a different way to read RSI indicator strategy. Many people just look for these overbought, oversold signals and are doing them backwards. Whereas actually going up here shows strength. Once we start getting into the bullish territory, which would we above 55, then we are looking at a relative strength. Now remember that’s what this is, RSI. Relative Strength.

I hate that term oversold. It 8767 s used by technicians all the time. So, I know that’s the classic term. When traders hear that term oversold, it implants in their mind an expectation that the market can’t go down any further. That’s the problem with using that term. If it 8767 s 8775 oversold, 8776 it sounds like well then the market can’t go down anymore and it has to go up.

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This video on RSI Indicator Buy and Sell Signals  will contradict some of the classic teachings. RSI is commonly referred to as a momentum indicator but it really ISN 8767 T! This video is part 8 of a 8 part series on the RSI indicator strategy.


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