Hey, folks
Just to inform you, I don't have any EA, this strategy is used with the RSI indicator and is pretty complicated, as well as other strategies are, but this one is something. Here, have a look.
1. This strategy may ONLY work on events such as Non Farm Payroll, FOMC Minutes and meetings and other highly recognized economic important events, and currency pair EURUSD since it is the most stable.
2. You must use the RSI indicator to spot market movements from a specific time period, which will lead to identification of whether you should go LONG (buy) or go SHORT (sell) market.
3. You MUST have M1 chart in your pair (EURUSD) or else this strategy won't work.
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TRADING FOMC
In the above picture it shows that the line broke out with LONG (BUY) on 12:28, HENCE the market has only 1.3 or 1.4 hours to go LONG if an event arrived at that time, if it passed more than the given time (which is 1 hour and 40 minutes) it INDICATES that you need to go SHORT (SELL) but since FOMC is on 21:00 (GMT 2-), I can't tell yet.
On 15:28, it went SHORT (SELL), meaning it has room to go SHORT for 1.4 or 1.3 hours.
On 17:26 it went LONG again. It kept on going LONG for more than 2 hours, meaning it will GO SHORT on the FOMC Minutes as shown below!
On 21:00 (2:00 PM) it went SHORT and fell almost 65 pips! Sadly, I can't predict the market so my only aim was to set my TP on 16 pips.
Just to inform you, I don't have any EA, this strategy is used with the RSI indicator and is pretty complicated, as well as other strategies are, but this one is something. Here, have a look.
1. This strategy may ONLY work on events such as Non Farm Payroll, FOMC Minutes and meetings and other highly recognized economic important events, and currency pair EURUSD since it is the most stable.
2. You must use the RSI indicator to spot market movements from a specific time period, which will lead to identification of whether you should go LONG (buy) or go SHORT (sell) market.
3. You MUST have M1 chart in your pair (EURUSD) or else this strategy won't work.
-
TRADING FOMC
In the above picture it shows that the line broke out with LONG (BUY) on 12:28, HENCE the market has only 1.3 or 1.4 hours to go LONG if an event arrived at that time, if it passed more than the given time (which is 1 hour and 40 minutes) it INDICATES that you need to go SHORT (SELL) but since FOMC is on 21:00 (GMT 2-), I can't tell yet.
On 15:28, it went SHORT (SELL), meaning it has room to go SHORT for 1.4 or 1.3 hours.
On 17:26 it went LONG again. It kept on going LONG for more than 2 hours, meaning it will GO SHORT on the FOMC Minutes as shown below!
On 21:00 (2:00 PM) it went SHORT and fell almost 65 pips! Sadly, I can't predict the market so my only aim was to set my TP on 16 pips.
Trading news strategy with RSI indicator (live trades provided)
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