MoneyTec.com Traders Community Forum - View Single Post - JB'S MACD / RSI Daily Bar Check-out

knocks420 · 31-05-2005, 01:01

I currently use a very similar MACD/RSI strategy to the one you described however I am looking more for reversals. I have noticed a tendency for the weekly price to have at least one, if not more, major swings from an oversold to overbought (or vice versa). I monitor the fundamentals and also the MA's (5/20) to get a clue for direction. Use the MACD cross to confirm the buy. Use trail stops and keep it tight when the price gets to overbrought (oversold) situation. The money management part still needs some tweaking. It worked exceptionally well up until the EUR started really tanking a few weeks ago. I know this needs a lot more refinement but I think its definetly something. I also try and use a quick scalping strategy on the 5 min which may have some potential.

31-05-2005, 01:01	#4 (permalink)
knocks420 level 1 Join Date: Jan 2005 Posts: 40 Rep Power: 0	Re: JB'S MACD / RSI Daily Bar Check-out I currently use a very similar MACD/RSI strategy to the one you described however I am looking more for reversals. I have noticed a tendency for the weekly price to have at least one, if not more, major swings from an oversold to overbought (or vice versa). I monitor the fundamentals and also the MA's (5/20) to get a clue for direction. Use the MACD cross to confirm the buy. Use trail stops and keep it tight when the price gets to overbrought (oversold) situation. The money management part still needs some tweaking. It worked exceptionally well up until the EUR started really tanking a few weeks ago. I know this needs a lot more refinement but I think its definetly something. I also try and use a quick scalping strategy on the 5 min which may have some potential.