The Rebound System

Heres the system:


Pair-Euro/Usd Usd/JPY Usd/GBP Usd/Chf
Time-8am to 12pm( Can use any timeframe really)
Chart- 15 minute chart, Awsome Oscillator(GFT Default), RSI (Set high-70 low-30)

Go Long if RSI closes below the 30 line.
Exit at 50+ pips

Go Short if RSI closes above the 70 line
Exit at 50+ pips

I use the Awsome Oscillator to verify the trend(Green line for buy and red for sell)

This is very simple but Im not sure how many brokers have the Awsome Oscillator but GFT does.

I will be keeping a record of my trades in this thread.

First day of trading with my new system. Im very excited to be able to try this system finally and todays trade went as follows:

Went Short @ 8:30 am est
Started @ 1.3055
S/L 1.3080 T/P 1.3003
Trade hit the T/P
+52 pips for the month of march

How’s your trading going with this? I like the simplicity of the system and will give it a look over soon. However, how do you avoid the scenario where there is a lasting trend e.g. up trend and the RSI is sitting above 70 but won’t come down until the trend is over (and you get stopped out)… ??

i tried this.
it does not always work