What you should do when the RSI Exhaustion moves higher

What you should do when the RSI Exhaustion moves higher 300 169 Minimalist Trading – Best Trading Indicators for TradingView

What you should do when the RSI Exhaustion moves higher

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Introduction

Today we’re looking at another trading setup using our technical indicators, which are considered to be among the best indicators for TradingView. In particular, we’re using the Bottoms Tops Signal in combination with the Levels and Zones, and the RSI Exhaustion.

The technical analysis on the chart suggests that we have an interesting trading setup confirmed by the best forex indicator combination: our Bottoms Tops Signal, our RSI Exhaustion, and our Levels and Zones. In particular, the RSI Exhaustion is moving higher than the price, so what you should do when the RSI Exhaustion moves higher? Simple, just look for confirmation in all the other indicators for a buy setup, because it could be a highly profitable trade.

Trade setup – 28 Oct 2019

What you should do when the RSI Exhaustion moves higher Setup 1

Today we have a high probability trading setup on AUDJPY, in fact:

    1. We have a higher bottom (the price is moving up)
    2. The RSI Exhaustion moves higher (it is supporting the price up movement)
    3. The RSI Exhaustion is bearish exhausted (the price doesn’t have too much room to move lower)

Moreover, these three conditions happen just above a major support indicated by the Levels and Zones and so the price should find a significant upward pressure at the current level.

Trade update – 28 Oct 2019

What you should do when the RSI Exhaustion moves higher Setup 2

The price is moving fast to the upside and towards our target.

Trade update – 29 Oct 2019

What you should do when the RSI Exhaustion moves higher Setup 3

The trade got a bit compromised by the fact that a minor sell setup emerged while the price kept moving higher.

It should not create any major problem but to avoid any risk, we moved the stop loss to breakeven so that, in the worst-case scenario, if the price comes back down, we’ll get out of this trade without losing any money, and actually, with a small profit.

Trade closed – 29 Oct 2019

What you should do when the RSI Exhaustion moves higher Setup 4

The price just reached the target so we closed the trade with another win.

If you are a novice trader and you want to become a full time forex trader or you’re working on developing new currency trading strategies, you might wanna check out the easy forex strategy that we used here because, in the end, the price hit our target without any major concern and the final return was a 3.2x profit that got added to our trading account.