RSI is not a buy and sell indicator ❌
-Relative Strength Index
keyword = Strength
A stock can remain Overbought or Oversold indefinitely
You don't need RSI to tell you OB/OS
When the distance between Price, 20sma & 200sma become equal, you're getting close to OB/OS
-Relative Strength Index
keyword = Strength
A stock can remain Overbought or Oversold indefinitely
You don't need RSI to tell you OB/OS
When the distance between Price, 20sma & 200sma become equal, you're getting close to OB/OS
Buying or selling on the mere fact that RSI is overbought or oversold will eventually get you a Net Loss, the probabilities will eventually catch up.
Price, Volume and key Moving averages will do the job
Keep it simple 👌
#Trading #Stocks $JKS
Price, Volume and key Moving averages will do the job
Keep it simple 👌
#Trading #Stocks $JKS
$PTON is one of many examples
If you sold on the mere fact that RSI went over 70 and waited for it to become oversold to get back in..
You missed the entire run
If you sold on the mere fact that RSI went over 70 and waited for it to become oversold to get back in..
You missed the entire run
Over the past 12 years, atleast for me
The best tell for overbought or oversold conditions is how far price has moved away from the 20sma & 200sma
When the spacing between the 20, 200 & Price is equal on a parabolic move, you're close.
RSI is very unrealiable for this
The best tell for overbought or oversold conditions is how far price has moved away from the 20sma & 200sma
When the spacing between the 20, 200 & Price is equal on a parabolic move, you're close.
RSI is very unrealiable for this
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