This particular Forex trading strategy makes it easy for even beginners to trade with and works regardless of the market trends. Because the MACD and the RSI oscillators are two widely available trading indicators, they can be used on any trading platform which is bound to have these two default trading oscillators.
All you need macd to have your live trading verified! Of course, you need to open a live account USD30 from each Forex Broker Below. Both Forex Brokers have excellent rating! When the two indicators line up, long and short positions can be taken accordingly.
Hope that you like the strategies that we share. If you like the strategies here, you will absolutely love our latest strategy The MorningPips Trading System. The aim of Morningpips is to finish trading by the morning. The first picture below shows the MACD and the RSI trading indicators applied trading the charts. RSI and MACD Strategy Ч Buy Setup.
In the first chart above, we have a long signal that was triggered first by the RSI 7 which crossed above the 50 level. A few sessions later, the MACD histogram also turns above the 0-line where the long position is taken. After quite a while, the RSI 7 dips back below the macd level followed by the MACD histogram which also crosses down the 0-line. This is where the long positions are exited. RSI and MACD Strategy Ч Sell Setup.
In the next chart above, we can see how a sell signal was triggered using the MACD and the RSI trading strategy. Here, after the RSI first turned below 50, the MACD followed suit few sessions later.
On the trigger candle, short positions were entered with a relatively tight stop loss. Prices continued to fall steadily and eventually on the next buy signal, the trade was exited with a very favorable profit.
As you might notice, in the above two buy and sell signal examples using the MACD and the RSI trading strategy there were two failed subsequent signals. This is something which traders need to get accustomed to. Due to forex fact that the trading strategy yields strong profits with relatively tight stop losses in comparison, traders should be able to re-enter a trade especially if a second signal with the same bias comes up.
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