Rules for RSI 80-20 Reversal Strategy on chart
Short Confirmations -
Divergence
Price stretched away above 50 sma
Macd Overbought & crossed below Red line
RSI Overbought and falling
Short Confirmations -
Divergence
Price stretched away above 50 sma
Macd Overbought & crossed below Red line
RSI Overbought and falling
Note
Market timing on this pair was wrong - 2 other possible short tradesNote
I had a buy stop and sell stop. Buy hit and take profit was made. Now I am watching for a morning star reversal bearish candle pattern to form and i will make another buy stop above previous take profit level.Note
Morning star candle pattern formed for sell
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.