In this week’s Forex video I will cover how to use the MACD and RSI with the Daily Trading Bias.
This week’s FREE bias pick was for GBP/USD. In the video I released along with the pick, I show you how you can use the FREE Daily Trading Bias to enhance your trading strategies. This week, GBP/USD traded as expected and provided both BZ members and members of the FREE Daily Trading Bias, great trading opportunities. A couple of the other trading methods I discuss are MACD and RSI.
How To Use MACD And RSI With The Daily Trading Bias
When using the MACD indicator this week, traders had multiple opportunities to trade GBP/USD. The first trading opportunity was a divergence type set-up. The second opportunity was using the MACD cross. For those who may not be familiar with the MACD cross, it is when the fast line crosses above or below the slow line. The bias was bearish this week so traders should have been focused on selling opportunities by looking for a bearish cross.
The RSI indicator is another favorite indicator among traders. Like MACD, RSI can also be used to find trading opportunities using divergence. Divergence is when the price makes a new high, and the RSI indicator fails to make a new high. A bullish divergence is when the price makes a new low, and the RSI indicator makes a higher low.
How To Use MACD And RSI With The Daily Trading Bias Video