Forex strategies revealed | FSR Forum

Hi,
This is Rupesh, new to forex I have very simple a strategy ... I would like you to check at your end and let me know your view and suggestions .....

Currecy Pair :- EURUSD, GBPUSD, AUDUSD, USDCHF (till time I have tried with these pairs)
Time frame :- 15 min , but preferable with H1
Indicator :- Boilinger Band, SMA5, RSI14, RSI5, FIBOPivot

If the price candle(green candle) cuts from below SAM5, below Boilinger Bans's centre line its a LONG call and TP is around 40 pips, and if price candle (red candle) cuts SMA5 from above, above Boilinger band'd centre line, its sure SHORT call and TP is around 40 pips. No need of SL.

Thanks,
Rupesh
[email protected]

Hello Rupesh,
Your strategy looks simple enough for scalping. One thing to clear, you have also mentioned about RSI14, RSI5 & Fibopivot. What about them? How to get signal from them? What are the specific chart setups we should be looking for entering a trade and what time would be the best for GMT+5.30 timezone.

Hello Rupesh,
I tried your strategy, it worked well for me on M15. Today morning, i placed a buy order on H1 for Gold.
The enter price was 1673.85 @ GMT Midnight. Look what happened. I kept it for around 3 hours and i lost so many pips. I had to close the order in heavy loss. Can you please explain, what went wrong in this order.

Hello

I here want to share a simple trading system. I have been using it for more than 6 months and I believe it is a quiet good system. I use only three simple indicators, SMA7 (Close), RSI 14 and Bollinger Band. Bollinger Bands is just for trend direction. I got an Entry Signal when price closed above or below SMA7 and RSI above or below 50. I use three SMA7 (shift zero, shift 1 & shift 2) to easily see the candlestick close. Besides this, SMA7s twisted together or compressed to single line during sideway.

I use RSI 5 to RSI 14 (total 10 lines) to clearly see that RSI 14 cross over 50 level line. If price closed above or below SMA7 shift 2, RSI 5 crossed over 50 and RSI 14 left behind 50, it means the price does not keep going, it can go back to opposite direction (but not 100% correct).