Trading news strategy with RSI indicator

[Aqndionlj]

Hey, folks

Just to inform you, I don't have any EA, this strategy is used with the RSI indicator and is pretty complicated, as well as other strategies are, but this one is something. Here, have a look.

1. This strategy may ONLY work on events such as Non Farm Payroll, FOMC Minutes and meetings and other highly recognized economic important events, and currency pair EURUSD since it is the most stable.

2. You must use the RSI indicator to spot market movements from a specific time period, which will lead to identification of whether you should go LONG (buy) or go SHORT (sell) market.

3. You MUST have M1 chart in your pair (EURUSD) or else this strategy won't work.

[Armondip]

In the above picture it shows that the line broke out with LONG (BUY) on 12:28, HENCE the market has only 1.3 or 1.4 hours to go LONG if an event arrived at that time, if it passed more than the given time (which is 1 hour and 40 minutes) it INDICATES that you need to go SHORT (SELL) but since FOMC is on 21:00 (GMT 2-), I can't tell yet.

[ArianaSok]

Please inform me if you didn't understand this strategy, I'll be glad to explain it step by step.

[AsaruNax]

Not the sort of trading I do, but have I understood your basic principle correctly? - you're saying that price action many hours before the event drives the RSI within less than 2 hours of the event, which predicts price action after the event? Bearing in mind the events you mention are the most notoriously difficult to anticipate and trade across.

[Arthurdelt]

I'll prove it today. No worries.

FOMC is arriving in a few hours btw.