Hello traders, just my view with RSI on a trend market like this pair, just because RSI is an easy to approach indicator does not make it an easy to master one, and i'm on my way learning how to use it.
Because i don't give an real opinion on selling or buying so i marked this as a tutorial, despite not to tutor anyone.
As a bearish RSI channel, we will look for a Sell signal. There still can be a buy signal but when a Buy signal appear, price usually movedown a little bit ( Bear trend is strong,), so i assume we can buy only at important zone with price action buy signal ( Careful approach). However, a Sell signal can be approach with both Quick and Careful approach.
We can have the same approach in smaller timeframe( with is more laggy), with shorter wave ( small RSI Channel).
Divergence can be effectively use as a reversal indicator (in trend market of couse)
Anyone use RSI that read to this point, share your view, i appriceated.
Happy weekend guys.
Because i don't give an real opinion on selling or buying so i marked this as a tutorial, despite not to tutor anyone.
As a bearish RSI channel, we will look for a Sell signal. There still can be a buy signal but when a Buy signal appear, price usually movedown a little bit ( Bear trend is strong,), so i assume we can buy only at important zone with price action buy signal ( Careful approach). However, a Sell signal can be approach with both Quick and Careful approach.
We can have the same approach in smaller timeframe( with is more laggy), with shorter wave ( small RSI Channel).
Divergence can be effectively use as a reversal indicator (in trend market of couse)
Anyone use RSI that read to this point, share your view, i appriceated.
Happy weekend guys.
Trade closed: target reached:
This pair on H4 respect the RSI 20. Dropped to the line i drew.
