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RSI Traders Secret Weapon

RSI Traders Secret Weapon

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Published by psoonek
When using RSI remember that it rarely makes a straight line from
overbought to oversold. Expect the indicator to hook and use these
hooks to draw trendlines and channels to help give you clues as to
what might happen next.
Most importantly however, always remember that while RSI can be a
very useful indicator for helping to determine market direction, it is still
only a secondary indicator.
Your primary information should be coming from the price charts
themselves and the price action contained therein. Always use the
charts for your analysis and use RSI to give you hints as to what you
might expect the market to do.
Use RSI more as a confirmation tool than a primary decision making
tool and you will never go too far wrong.
When using RSI remember that it rarely makes a straight line from
overbought to oversold. Expect the indicator to hook and use these
hooks to draw trendlines and channels to help give you clues as to
what might happen next.
Most importantly however, always remember that while RSI can be a
very useful indicator for helping to determine market direction, it is still
only a secondary indicator.
Your primary information should be coming from the price charts
themselves and the price action contained therein. Always use the
charts for your analysis and use RSI to give you hints as to what you
might expect the market to do.
Use RSI more as a confirmation tool than a primary decision making
tool and you will never go too far wrong.

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Categories:Types, Presentations
Published by: psoonek on Feb 06, 2014
Copyright:Attribution Non-commercial

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05/18/2015

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