The 3h white energy lost to the 6h RED RSI, this indicated downward pressure was to continue. 6h white energy did beat the 12h RED RSI... HOWEVER the white energy was higher than the green line (bearish). This told us that the RED RSI in the 12h was the "winner" and was likely going to fall below the 50 level. In which it did and this triggered another NEW race between the white energy in the 12h and the RED RSI in the 24 hour.
Downward pressure is still continuing. Note this DOES NOT mean price action must drop. Could trade in a trading range going sideways.
Downward pressure is still continuing. Note this DOES NOT mean price action must drop. Could trade in a trading range going sideways.
This is NOT financial Advice and I am NOT a financial adviser. This is my opinion based off of my knowledge of using these indicators.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
This is NOT financial Advice and I am NOT a financial adviser. This is my opinion based off of my knowledge of using these indicators.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.