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Forex Morning Breakout - Best Accuracy for 2 Years

Hello readers, I came back to the blog and see that it has been a long time since I have posted anything new. I am still here and of course still trading. The strategy that is currently working best is the Forex Morning Breakout Trade (New York Open). For me, I also find the strategy works best when the NY market opens on Wednesdays and Thursdays...it's almost like by mid-week the market wakes up and remembers what it is supposed to do! I typically only trade two days a week now using this strategy alone; and I generally gain 70 to 110 pips a ...

Using Long Wicks as a Forex Trading Signal

The guys over at DailyFX.com posted a great visual today. For this one, the picture says it all. See the original article at the Post of the Day by Richard Krivo here --> ORIGINAL POST HERE from DailyFx.com and to get more simple and accurate chart based training check out the latest video training, now updated for 2012.

Simple FX Strategy from a 10+ Year Professional Trader

Hello Forex Enthusiasts: I hope you are enjoying my blog and its trading ideas. As you may have read about in my forex blog; I do have one highly preferred method that I have been successfully trading on a LIVE account nearly every week for over a two years now. HINT: Once you read and learn the strategy, here is another tip that makes it even more effective: I've found that it is the most accuate on the AUD/USD, the EUR/USD and the EUR/JPY (in that order). In fact, when you see this set-up on the AUD/USD; I would recommend that you ...

Forex Trader’s Secret: Choose & Use a Consistent Approach

Here is a great article that was published today by Dailyfx.com. Every trader needs to discover and then consistently implement an approach that fits well with their 'trading personality'. Then use a solid money management strategy and that is how you win in the currency exchange markets. The three simple approaches I have been relying on for over 2 years now can be learned here. I think if I hadn't started implementing this type of breakout trading and swing trading strategies, I probably would have quit forex within a few months of starting. As always, trade on a demo account ...

Forex Scalping - Step By Step Strategy

Admin note: I don't really using any scalping strategies anymore for my personal trading. For me, scalping actually takes longer just waiting for a set up and I would prefer to check the charts at the beginning of the end of the day to see if there is a trade to place for the day. (One of the main strategies I use that requires checking the charts only once a day after the New York close is detailed in these training videos.) But I know many of my readers come here looking for scalping type, intra-day trade strategies. If you ...

Forex - Swing Trading Strategy

Admin note: I've been trading for over 3 years now as of December 2011....and I've finally settled into 3 main strategies which are consistently dependable and accurate. They are all really simple too: Swing trading (when you hold a trade for 1 to 3 days), trading the NY Open when there is momentum, and trading breaks of a Head and Shoulders pattern. Using these three strategies together and trading only when the market is moving with momentum has been incredibly effective. The article below explains about more about the indicators used in Swing Trading. And don't worry -- you don't ...

Ann’s Forex Trades - This Week Oct 4

[caption id="attachment_4" align="alignleft" width="124" caption="forex rsi indicator"][/caption] Tuesday Oct 6th midnight New York time: Hello Hello! I have had the most crazy of all Septembers with the kids getting back to school. We also had the swine flu sweep through our home shortly after school started (we have all recovered after mild cases) and I recently picked up a part-time educational consulting gig....all of which has taking me away from the trading room for several weeks. I have just come back today and I do have a plan for a breakout EUR/USD trade on the weekly charts. I have an order set to go LONG ...

Forex Chart Patterns - Good Doji Strategy

I ran across this great article today. This is truly an effective and simple strategy. I really like how this trader uses the "doji pattern" to make decisions when trading. If you don't know what a doji is, it is a bar that has an open and close point at nearly the very same spot. It looks like a plus sign on the chart, so it's easy to spot. If you aren't sure what I'm referring to, then do a quick "Google Image" search on "doji candlestick" and you can see what they look like. - Ann P., who recommends these training videos which are ...

Ann’s Forex Trades - This Week

[caption id="attachment_4" align="alignleft" width="124" caption="forex rsi indicator"][/caption] < . ________________________________________ TOTAL PIPS thus far THIS WEEK = pending TOTAL PIPS OVER LAST 7 WEEKS = + 509 pips =====> Get my preferred strategy : HERE ________________________________________ Sunday Sept 13th 8:30 pm NYC eastern time: I will be going SHORT on EUR/JPY if there is an hourly break and close below 131.44. STOP around 132. Take Profit = open objective. => RESULT = -50 pips Monday/Tuesday 2:00 a.m. EST new york time: I will be going LONG on EUR/USD on a break of 1.4661 with SL around 1.4610 and TP of 1.4721. Wednesday 3:03 pm New York time: It took two days which I didn't expect but ...

Ann’s Forex Trades - Week of Aug 2, 2009

________________________________________ TOTAL PIPS thus far THIS WEEK = +80 pips TOTAL PIPS OVER LAST 5 WEEKS = + 543 pips Get my preferred strategy : HERE ________________________________________ Sunday night August 2nd 10:30 pm EST New York time. Right now two currency pairs have set themselves up within my preferred strategy. They are both good high probability low risk trades. One is on the AUD/USD and the other is on the USD/CHF. I have chosen to go with the AUD/USD. I have gone SHORT on AUD/USD at .8361 with SL at .8411 and TP at .8280. ==> RESULT = -50 pips August 3rd 10:00 a.m. EST time: I have ...

What is RSI in Forex? - How to Use the RSI Indicators

Posted by admin On May - 24 - 2009

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I’ve been referring to RSI in some of my posts and for those of you who may be brand new to forex trading I thought you may appreciate an explanation of what the RSI is. Basically, the RSI is the “Relative Strength Index.” The RSI is one of the most used indicators in forex trading. It is best used together with other indicators to enter and exit trades (I use it along with knowing where the basic hourly and daily support and resistance points are.)

When the RSI goes below 30, the pair is considered to be oversold. When an oversold condition presents, the trader of course will use other indicators to assist with determining when to play a buy order on the oversold pair. On the other hand, when the RSI is above 70, this indicates an overbought market. In an overbought market, the trader will be looking for an entry point to place a sell order on the currency pair.

You can check the RSI by various time intervals on the charts (i.e. hourly, daily, weekly, 15 minutes, etc.). Daily and Weekly time frames seem to be the most relied on.

The RSI in forex trading is a very simple indicator that can be used, along with other indicators and signals, to assist the forex trader in make high probability trades.

Here is a great video I found on youtube showing how the RSI works on live charts:

-Ann Pevey

A lso see http://www.forextiptrading.net for up to the minute Forex News Feed, Forex Videos, Forex Marketplace and all the basics of FOREX

- Get your hands on one of Ann’s simple and preferred price action strategies –> GO HERE

FX Questions

3 Responses to “What is RSI in Forex? - How to Use the RSI Indicators”

Lisa S. Says:
June 17th, 2009 at 8:39 am
You made some good points there. I did a search on the topic and found most people in agreement to this.
Bret Skarphol Says:
April 12th, 2010 at 2:29 pm
This is a good post, I was wondering if I could use this piece on my website, I will link it back to your website though. If this is a problem please let me know and I will take it down right away.
admin Says:
April 20th, 2010 at 10:56 pm
Sorry it took me about a week to reply but this is fine with me yes as long as you link back. I’m glad you enjoy the blog. Best to you!

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