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5 Minute Forex Scalping Strategy using RSI ⛏️

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5 Minute Forex Scalping Strategy using RSI. http://www.financial-spread-betting.com/course/technical-analysis.html PLEASE LIKE AND SHARE THIS VIDEO SO WE CAN DO MORE Here's a simple scalping strategy to be used on EUR/USD and GBP/USD on 5 minute charts. So we have the 14 period RSI (RSI identifies oversold and overbought conditions). We want to be looking for shorts when we are overbought and longs when we are oversold. In addition to that we are looking for the shooting star pattern. This stops you getting caught out too much and you'll find that in many days you're not even taking the trades. I wouldn't be using after big data; I would use it during normal trading hours but I think its a good foundation to build a strategy on. Shooting Star Candlestick Pattern reviewed here: https://www.youtube.com/watch?v=9HzqRFjcmTc
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Text Comments (27)
UKspreadbetting (9 months ago)
Shooting Star Candlestick Pattern referenced in the above system video reviewed here: https://www.youtube.com/watch?v=9HzqRFjcmTc
Scott Dee (6 days ago)
Thanks for this video it’s very good strategy
fernando fischer (30 days ago)
I don't know men seems to work but it looks like you may have very few opportunities on a week, and needs to be watching to your computer all the time, I think that fro me at least this could be use more as a trigger than a strategy, correct me if I am wrong
Segun Olatunbosun (1 month ago)
Save yourself the trouble and start using SMA 5 & 10.
Ibukun Akinbami (1 month ago)
Segun Olatunbosun how bro, tell me more
Kishan Patel (1 month ago)
Simply amazing. This guy has made me earn over 70k in 10months and I'm only 20. Huge respect for you. Can't thank you enough
migz cortez (28 days ago)
Which strategy specifically works for you? :)
carot2003 (4 months ago)
Thanks, makes sense..
johnny walker (5 months ago)
5:46 You say you wouldn't use in normal trading hours? What you mean? No trading this in London + US Session? Or you ONLY trade it DURING these sessions? Please sort me out on this. Appreaciate your work
kyle Renz (4 months ago)
There are peak times for volume, usually the opens of the 3 major sessions and major news is always coming out then thus high volatility, not un-scalpable, but less predictable and lagging indicators will be less reliable (more repainting.) Try lunch time for the US session or stay up until 4 AM for the Asian and trade USDJPY... thats where I've had my best luck... and I MEAN LUCK!
Elwin Coleman (6 months ago)
Thank you so much for the tips!
Tanbir Ahmed (6 months ago)
What time frame are the candlesticks????
UKspreadbetting (4 months ago)
5 Minute
Absolutely intrested best channel ever
johnny walker (7 months ago)
Just something I thought you should mention, around the 4:00 mark you say you shouldn't pull the trigger cause it's not oversold enough, right, but it's a divergence, so that should be a sign to enter also
Sarajlija Sanjo (8 months ago)
Cool BRO..Thank you very much for all trading tips.
mike rega (8 months ago)
Thanks another way of trading and its interesting. I like trading demo and trying new ideas.
Ha Ro (9 months ago)
I really wonder why these videos are published. There are much more instances where the RSI shows overbought and oversold but with the price not following the RSI at all. Beware !
johnny walker (7 months ago)
Learn money management, so when price doesn't follow RSI you just get SL, and when price follows RSI you have a winner. You should thank this man the amount of effort he puts on this videos.
amit sonu (9 months ago)
Hii...Just a suggestion if we wait for a confirmation candle too after a shooting star then we can consider odds in our favour. Suppose in oversold condition aftee a shooting star if we wait for a bullish candle which has to be long in size then of shooting star and vice versa.
Se Taga (9 months ago)
I'm really new to scalping... However Is it just me that is really affected by spreads? The difference of 2-8pips can have a huge effect when you're just looking for 2-10pips right?
kyle Renz (4 months ago)
Highly liquid pair = lower spreads. 8 - 10 pips is my target for most scalps. Just practice with micro lots.
SEO experimentations (9 months ago)
yes this is why he s only doing this on EURUSD, GBPUSD
UKspreadbetting (9 months ago)
yes of course, tight spreads are very important if you're scalping.
ma.theresa sarmiento (9 months ago)
Great! Thanks for this. Falling short of more strategies in the 5-minute space. Glad you mentioned it to be quite pair-specific because RSI responds simultaneously but not as much in other pairs and especially if its already outside the 2 standard deviation.

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