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What is RSI 80-20 Trading Strategy Guide about?

This document describes the RSI 80-20 trading strategy in 5 steps: 1. Find a currency pair showing a high or low over the past 50 candles 2. Wait for the RSI indicator to read above 80 or below 20 respectively 3. Wait for a second candle to form price divergence from the first 4. Enter when price moves against the previous trend 5. Place a stop loss below recent support or resistance The strategy identifies reversals in trends using RSI settings of 8 periods and lines at 80 and 20 to signal overbought an

Author

Bobei Dinu

Language

EN