Wirehair

Simple RSI/MACD strategy

FX:EURUSD   Euro Fx/U.S. Dollar
606 6 2
Simple stuff but notice how each low in RSI confirmed by subsequent MACD cross over, signals a rally.
Has happend 9 times in the last two years, including two slightly premature signals that still would have yielded a positive trade.
Now MACD appears to be ready to cross over following the recent RSI low. Notwithstanding ECB tomorrow will history repeat?
piptank
2 years ago
tnx, for me it's clear i long eurusd
will draghi cut rates?
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lesbi007 piptank
2 years ago
Regardless of Draghi's decision eur/usd is set to tank long way to 1.30. We can see huge distribution phase between 1.38-1.39 with brief hype to 1.40 where big guys shorted the market heavy!
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99nines lesbi007
2 years ago
it's heading to 1.48
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99nines piptank
2 years ago
agreed :) just hold out at least for a new top :D
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timwest PRO
2 years ago
Good setups and helpful to have tight stops. If you wait for the MACD to cross, then the entry is from a much higher level then the blue arrow suggests.
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Wirehair PRO timwest
2 years ago
Good point and thanks for pointing out. You can say the same thing for exits. If you likewise use MACD crossover to identify the top, then the exit will be lower than the arrow suggests. I think the main conclusion is that the methodology has been able to confirm the swing lows and beginning of new rally fairly accurately during last almost two years uptrend. That’s all.
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