5th March 2019 contacttf
The Relative Strength Index (RSI), developed by J. Welles Wilder, is a momentum oscillator that measures the speed and change of price movements. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.

Price hit the support line, and then bounced back, which allowed me to make my entry.

With no clear fundamental news, I thought the trade was worth taking.

Note, this was a counter trend trade because 2,3 and 4 hour is on the bearish side.

Factoring this, I wanted to be in the trade for a only a short period of time.

After trade analysis
I would have doubled my winnings, if I was still in. The next major news was 3pm, which was about 1 hour away.

The Ichimoku Cloud, also known as Ichimoku Kinko Hyo, is a versatile indicator that defines support and resistance, identifies trend direction, gauges momentum and provides trading signals. Ichimoku Kinko Hyo translates into “one look equilibrium chart”.




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