RSI Indicator & How To Use ItHello everyone, today, we´re gonna talk about an RSI and how to use it.
What is an RSI?
Basically, it´s an indicator that shows if the asset is overpriced or underpriced.
Basic information
RSI is 0-100
if the price is at 0-30, the asset is underpriced and theoretically it should go up.
if the price is at 70-100, the asset is overpriced and theoretically it should go down.
Professional information
You can set an MA based or RSI moves. And this is getting really interesting right now :)
Every time, the MA is touching bottoms or tops of RSI, it will go up or down (touch bottom = go up, touch top = go down.)
It works like an ball and floor. You just drop the ball on the floor and everytime the ball touches the floor, ball will just bounce and go up.
I drew it to the chart (green circles).
Okay guys, seems like we are in the end. Hope this helped you to make greater decisions and take good view at RSI.
Personally, I use RSI a lot and it´s really saving my a$$.
Thank you so much for reading my post, I´ll be really glad if you will hit that like button and follow me, so you can see other tutorials.
Have a nice rest of your day and stay safe.
Tommy.
Newbie
GBPJPY Trendline + Support 1Di am showing my analyse of GBPJPY. We are in downtrend and i am waiting for breakout of an trendline, I am bullish on this, because my view is, that it will don´t cross an support. RSI is low and we will get a lot of reports for GBPJPY.
NOT FINANCIAL ADVICE
if you admire my analyse, please hit the "like" button, stay safe.
BITCOIN BULL RUNThis is my personal look on the possible outcome for Bitcoin due to this current bull rally. Now that it has broken out and retested the 40,000 level we are looking at a new target of 48,000. Notice how the volume also supports this idea. We will play the long up until 48000 for intraday/week investment and if it hits the target zone i will be looking for a short term scalp short that DAY. I say that day because we all should know the strength of the bulls in crypto rallies and should take that into account.
-Bitcoin is in a bull run
-It broke the 40k resistance and retested
-48k is the new target
bonus:
-possibility of 55k-New all time
Update to my previous effortThe channels I defined previously were very wide. These are narrower (and the top 50% of the previous) and we are at a crucial point. Any wild movement here that confirms in an hourly candle will, for me, determine which direction our, near sideways, channels will follow.
BUY ADA : GOOd BUY REGION USING SIMPLE SUPPORT AND RESISTANCE ADA is at a good region of support, a long entry will be good until next resistance, if and after price breaks the resistance, the buy momentum may continue upwards after a decent retrace, that would be my entry for another long position!
Short NANONeeds volume confirmation for a genuine breakdown from support line of ascending triangle.
Thoughts?