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Execution time 2 days
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Conditions for sell entry.
1. Allow the RSi line on 1hr chart closed and cross above 70 line and reach 72.
2. Then let the next candlestick hit the resistance price (open of bullish candle or close of bearish candle, any one closer) on weekly chart
3. Open position for sell on close of the candle provided the line clearly above the Rsi 70 line on 1hr.
4.Take profit 20pips, but if drawdown open another sell position at 30pip interval. With two positions open, close all the position at break-even of previous open position.
Conditions for buy entry
1.Allow the RSi line on 1hr chart closed and cross below 30 line reach 28
2. Then let the next candlestick hit the support price (open of bearish candle or close of bullish candle the closer) on weekly chart
3.open position for buy on close of the candle provided the line clearly below the 30 line reach 28 on lhr
4. Take profit 20pip, But if drawdown open another buy at 30pip, then break even of previous open and close all trade.
5.Note the RSi is 14 on both 1 hr and weekly
Note: once the trade pick one pair, sure close it before picking another. One open position at a time
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