Monthly chart RSI needs a rest

85 3 0
RSI has made a move back down from the bullish/overbought area.

I've marked out an orange line on the RSI 52, which seems to act as the support/resistance for bull/bearish trends.

Looking at history we see the RSI crossdown of 70 brings a few bearish months, however it looks like we're bouncing off 70 this time, so there may be a little more bull left before we take a breather... but I believing we're going to have some bearish months up ahead.
Can you remember to point out when it does trigger a sell signal? Thanks! And then how much would you risk if you go short on that signal? And target how low?
MindsForge timwest
I am trying to use the long/short position tool on charts that I trade/would be comfortable trading, this was mainly for a friend who was looking to get into LMT long, but I felt like he should maybe wait on that idea.

If someone were interested in going short on that signal (monthly 70 crossdown) I would then switch to an hourly/daily chart and do an analysis and setup the reward/risk short position... I don't know if selling shares short on a chart with a monthly resolution is a good idea with the fees associated with it... but I've never done it so maybe it is feasible?

Thanks for the comment
MindsForge timwest
Agh, I just noticed the callout bubble in the RSI frame is overlapping the most recent bit of the chart, I zoomed out a bit before posting, if you press + to zoom in it points out the "look to short/sell" signal.
Ideas Scripts Chart
United States
United Kingdom
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out