It’ll only take a minute to read through this countertrend strategy, just another to set it up, and 60 seconds after that, you could already be earning a profit!
- Asset for trading EUR/USD
- Timeframe from 30s to 1m
- RSI with a period of 4 minutes and levels 90 and 10
- Bollinger Bands with the period of 20 and a deviation of 2 (standard set-up)
1. Declining trend
2. The price “rebounds” from the lower borders of the Bollinger Bands.
3. The price of the RSI crosses into the oversold zone (level 10) from bottom, going up
1. Growing trend
2. The price “rebounds” from the upper borders of the Bollinger Bands.
3. The price of the RSI crosses into the overbought zone (90) from above, heading down
Remember! This set-up is only valid for the EUR/USD. The RSI indicator set-up needs to be tailored to whichever currency pair is used.
The trade should run for 1-2 minutes. You can choose a longer expiration period if the market conditions allow for it. In any case, if you change the set-up, test the strategy again on your demo account!