Greetings to every trader.
I am a newbie and i study like crazy all those charts and indicators.
I found a good and very simple strategy for profits.
4 Hour Chart
Currency: Any
RSI(6) (so it covers 6 bars, or 24 hours)
When it crosses 51 upwards OR 49 downwards, then buy OR sell.
In 4 hour charts even if it doesnt go to the moon, you can make easily 15-20 pips. Although most of the time the movements are 50-90 pips before retracement in volatile pairs
If you go for the moon insert Bollinger Bands(20) and pray for the bars to reach upper or lower levels (a LOT of pips)
Thats it.
Even if you go for 10 pips with 1 LOT thats 100 dollars. If you do this for 6-8 currencies considering that RSI crosses 50 around 8-15 times a month per pair, then thats a lot of money.
I dont know if its faulty since i am a newbie and perhaps naive.. Any advice ?