Will have to see where it goes next week. Came down in the expected spot so we will have to see what the buy presure looks like next Mondy/Tuessday. In the big picture (weekly/daily) its pointing south. But if we are looking to go long here, it best to wait too see how far it re traces.
RSI used in this manner is extremely reliable if you understand volume pressure and can understand the difference between high versus low. I always like to point out the session divider lines that are uniformly vertical on teh chart. Where this line intersects with volunme is ALWAYS the lowest volume pressure of the day.
Price is ALWAYS drawn from high pressure to low in order to "fill the gaps" before it proceeds. Think about it like water loving through rocks... water is not going to fight rock, it is going to move around it.. if that makes sense.
Until next week.
RSI used in this manner is extremely reliable if you understand volume pressure and can understand the difference between high versus low. I always like to point out the session divider lines that are uniformly vertical on teh chart. Where this line intersects with volunme is ALWAYS the lowest volume pressure of the day.
Price is ALWAYS drawn from high pressure to low in order to "fill the gaps" before it proceeds. Think about it like water loving through rocks... water is not going to fight rock, it is going to move around it.. if that makes sense.
Until next week.