Thursday, March 1, 2007
Forex Day Trading : My application of RSI and EMA on the candlestick chart
Forex Day Trading : My application of RSI and EMA on the candlestick chart
I apply the settings of 50 and 200 EMA (Exponential moving average) and use a candlestick chart from dailyfx trading plateform
My system for currency day trading also includes 9 and 14 RSI which use if the market is range bound. If market apppears overbought, I go short provided candlestick and EMAs confirm and my target is the end of the range of trading..
I also use MACD as one more technical indicator which is mostly applied for case when forex online market is trend. It is used for day as well as forex swing trading.
I apply the settings of 50 and 200 EMA (Exponential moving average) and use a candlestick chart from dailyfx trading plateform
My system for currency day trading also includes 9 and 14 RSI which use if the market is range bound. If market apppears overbought, I go short provided candlestick and EMAs confirm and my target is the end of the range of trading..
I also use MACD as one more technical indicator which is mostly applied for case when forex online market is trend. It is used for day as well as forex swing trading.
Labels: candlestick, currency trading, EMA, entry and exit, forex day trading, MACD, RSI
