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Rsi_overbought

2 period RSI + limit ordersThe 2-period RSI is really erratic and produces a lot of signals. A lot of the signals are good, but if you're trading with one singular position, you might run into trouble pretty frequently. So, I have something for you to try. On *any* of these candles that close with the RSI above 90% or below 10%, you'll place a trade. But it won't be a big trade. You want it to be just big enough that you'll be reasonably happy with your profits if that is indeed the reversal point, but not so big that you're afraid of a little (or a lot of) drawdown. Both of those candles have an RSI closing above 90%. What if this continued for another 5-6 candles before dropping? You don't know what the market will do here, so you don't bet big. Your trade setup might look something like this: The market sell might be 1.00, and each limit order might be 0.10. Maybe you have 30 limit orders, for a maximum position size of 4.00. Ideally, you'd be closing all of them when the price reaches the next bottom on the RSI, and then you'd be reversing and starting over. Sometimes that won't happen and a higher time frame momentum move will snuff you out, so make sure you measure your risk carefully! Sometimes none of your limits will get filled. Sometimes only a few. Sometimes all of them! You never know. The 2-period RSI gives you a pretty good location to start placing limits, though, if you prefer to keep an indicator on your charts. Few more examples:
BYBIT:ETHUSD.PEducation
by WinkleTrades
RSI Crash Course - Why Most People Get REKTHere is a quick crash course on how I use the RSI along with Elliott Waves. - Using the 20, 30, 40, 60, 70, 80 levels within the context of the trend to spot entries - How to spot uptrends and downtrends with support and resistance - How to spot big 3rd wave moves - Using divergences to spot the end of a trend This can be used on any time-frame but I just use it on the daily for this example Like anything in trading, the RSI is more complex than most people first suspect. However, I hope this tutorial simplifies it enough for you to improve your trading P.S. Video cuts out part way into my example, but you get the full tutorial and setup on how I use the RSI Hope you have a great day trading, Tchau
Education
by joshuashepherd877
RSI Trend Strategy GuidelinesThe RSI is a versatile indicator, and can be used to provide entry signals during a trend. To get the signals a moving average is applied to the RSI. 1. Trades are only taken in the direction of the trend. For an uptrend only take longs. For a downtrend only take shorts (puts). 2. During a downtrend the RSI must move above 60 to indicate a pullback. When the RSI crosses back below its moving average (can be at any number, just as long as the RSI is or was above 60 recently) go short. 3. During an uptrend the RSI must move below 40 to indicate a pullback. When the RSI crosses back above its moving average (can be at any number, just as long as the RSI is or was below 40 recently) go long. 4. Give the price at least two or three bars (whatever time frame you are trading on) or more before considering an exit. This gives the price some time to move in your favor.
BINANCE:ETHUSD.PEducation
by yaser_rahmati
Descending trendline of highs meets the golden pocket Simple technical observation, the trend line of SPY's highs this year will cross the 0.618 Fibonacci resistance on August 31st, just in time for September which doesn't have the best track record historically. Macroeconomic considerations: Russia's still invading Ukraine, China's puffing its chest at Taiwan, U.S. and China both have their own respective housing crises, and Germany (along with a lot of Europe) is still dealing with an energy crisis as a result of the Russia-Ukraine war. Inflation flattened out this past month, but also did so for 3 straight months in 2008's subprime mortgage crisis. If I forgot some significantly bullish macroeconomic factors, please post them in the comments. My candle colors are shaded by my indicator that repaints candles to represent RSI levels. For individual candles, white wicks are bullish and black wicks are bearish.
AMEX:SPYShort
by EffyewMoney
Bullish ab = cd AUDJPYFrom the failed Bullish Butterfly pattern, I've realised an undercover bullish ab = cd hiding within the pattern. Looking at the the higher time frame, I see the pair is sticking with the predominate uptrend with some minor corrections along the way. I've started to back test a new strategy that has taken the harmonic approach to a world of unprecedented accuracy and precision. Some only utilise this system, where others may use difference concepts, nobody is wrong and each is to their own to determine how accurate and precise they can be. But it is imperative to use a multitude of systems to give higher chance of probability and accuracy to take a position.
Long
by BeaucoupPips
XAUUSD (GOLD) Ready for rocket launch? 🚀🚀 🔸 In our opinion, the price of gold could end at any level between 1728.20 or 1713 Or between 1799 and 1775 of the second phase or the last zone (technique), the price will start to slow down and at some point this fall will end. 📌 From one of these two zones, prices will start to rise again until around 1805. 📍 Analysis Structure : Elliott Wave + Fibonacci + Bottom Line + Volume + LL + Fundamental 💁 If you like our idea, please like it. 👉 And if you have an opinion about any gold, then definitely let us know in the comment box . Regards By FXAnlysisTeam [/b ]
VANTAGE:XAUUSDLong
by ForexAnalysisTeam