5 Minute Forex Scalping Strategy Using Stochastic RSI

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This simple 5 minute forex scalping strategy using stochastic rsi can be used on any currency pair you trade. The Stochastic RSI indicator is a combination of two well-known technical analysis indicators: Stochastics and the well-known Relative Strength Index.

Timestamps:

0:00 Intro
0:14 Definition of Stochastic RSI
1:00 Why do we need 200 Moving Average?
1:10 How to add indicators
2:10 Identifying the trend
2:43 Join my FREE forex group
2:57 USD/JPY Sell example
4:23 How to plot stop loss
4:45 USD/JPY Buy example
6:07 How to exit trades
6:38 Outro. Thank you for watching!

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Further video description

Don't forget that only indicators can't be relied upon. You need to carry out a market analysis using your technical and fundamental knowledge to achieve a greater success rate of the strategy.

That is why in this video, I wanted to cover up small but important bits when you using scalping strategies in forex, stocks etc, so you will be aware and you can apply in your own practise.