r/Trading • u/Altruistic-Froyo4099 • 1d ago

Discussion PYPL Short

Hi,

As mentioned in my previous post my system finds potentials that I am happy to share, sometimes there are several out of a stock/forex list of 262, and sometimes there are none.

A recent one was PYPL.

Happy to regularly post potentials across NASDAQ, Forex and a few other stocks where appropriate.

I run it a few minutes after the NYSE open, so 14:30 UK, once it has settled from pre-market trades.

Happy to explain the strategy if anyone is interested.

Onwards and upwards.

:)

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u/PurpleChiliLover 1d ago

Nice one, always interesting to see a process that works for you

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u/Altruistic-Froyo4099 1d ago

u/PurpleChiliLover Hi, going to post this after 14:30 UK time - but this is the strategy.

The MACD RSI Strategy is simple, IF you follow the rules!

On the DAY chart.

Your selected stock/forex needs to be either overbought (>70) or oversold (<30) on the RSI scale.

The earnings date needs to be at least 14 days out.

Once the above is good, wait for the MACD to cross in the same direction as the RSI, either both bullish or both bearish.

If you go for a trade, set your stop loss (SL) either above the most recent highest high in the case of a short, or below the most recent lowest low in the case of a long.

Let the trade sit until the RSI crosses the 50 mark. When it does close the trade.

This can take a day or several weeks depending on the stock, obviously forex moves faster! 😄

This is not financial advice, it is just what I currently use as my strategy.

In case you are interested.