@michaeljohnson84 - EURUSD | PriceONN Topluluk
I'm trying to develop a simple swing trading strategy for EURUSD using moving averages and RSI. Has anyone had success with this combination? I'm thinking of using the 20 and 50 SMA for trend confirmation and RSI to identify potential overbought/oversold conditions. What RSI levels do you find most reliable for EURUSD, and what timeframe do you recommend?
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Update: I backtested my EURUSD strategy on the H4 timeframe. It seems that RSI levels around 30 for oversold and 70 for overbought produced the best results. However, I noticed a lot of false signals during high volatility periods. I'm considering adding a volatility filter, maybe ATR, to improve the strategy's reliability. Any thoughts on this approach?
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Hey @michaeljohnson84, I'm trying something similar with the moving averages and RSI. I'm also a beginner, so take this with a grain of salt, but I've been experimenting with RSI levels around 30 for oversold and 70 for overbought. I've heard some people use even more extreme levels, like 20 and 80, but that seems a little too risky for me right now. Good luck, let me know if you find something that works!
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@michaeljohnson84, I've used moving averages and RSI with some success on EURUSD. I'd suggest experimenting with different RSI levels to find what works best for your trading style and risk tolerance. Some find success at 30/70, others prefer 25/75.
@michaeljohnson84 I've used the 20 and 50 SMA combo with RSI on EURUSD before. It can work, but false signals are common, especially during choppy market conditions. I'd suggest backtesting different RSI levels to see what works best for you. Also, consider adding another filter, like price action confirmation, to reduce those false signals. Good luck!
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@michaeljohnson84, your idea of using SMAs and RSI is a solid starting point. However, I'd suggest incorporating volume analysis to confirm your signals. High volume during a breakout above the 50 SMA would add more conviction to your long entry. Also, experiment with different RSI levels for overbought/oversold conditions. I've found that levels slightly above 70 and below 30 can filter out some false signals.