With due practice, traders can hone their skills and use the RSI indicator to trade forex. However, trading a range market can be very risky as price often tends to move into the accumulation phase. Traders can often end up getting trapped due to fake breakouts, which are a common occurrence with the RSI indicator.
The Bollinger bands and RSI strategy can be used as a simple way to enter a trade right before volatility expands. The simplicity of this trading strategy is that it can be used on time frames of H1 and H4. This makes the strategy easy to follow up, especially for day traders.