As a trader I use Well's Wilder's RSI as an over riding Indicator.
Simply put, I put it first among equals ABOVE every other indicator
in its Importance in determining future price movement.
Right now, 15 Minute RSI is inside a triangle, or indecision pattern.
Of note, you can see that despite.. the sharp breakdown in price in the S+P
on Friday Dec.7,.. RSI did not configure, or act the same way.
The 15 Minute RSI Low came much earlier this past week.
That is called a DIVERGENCE.
And in this example, it is a Bullish Divergence.
S+P 500 is at a Triple Bottom Low Above 2630, on the 15 Minute Chart.
Next Week, Either PRICE or RSI DIVERGENCE , is going to win out,
and probably win out BIG TIME.
Don't ASSUME you know right now, which direction that is going to be.
If the S+P breaks it's triple bottom low at 2630
PRICE BEING THE DOMINANT FACTOR
then all bets are off as to how low the market could
actually go, in a PANIC situation.
However, if short term Bullish RSI Divergence wins out,
and the dramatic price collapse to conclude the week
triggering the infamous "Death Cross Execution turns out to be an eventual bottom,
then you could see price begin its journey back to the north soon.
The markets are a discounting mechanism.
How much of the this has already been priced in ?
The resolution of this Price/RSI Divergence 15 Minute Pattern
should illuminate almost immediately the markets short term FATE
in trading early next week.
THE_UNWIND
12/8/18
NEW YORK
of paying very close attention to RSI, in ALL TIME FRAMES.
Simply put, I put it first among equals ABOVE every other indicator
in its Importance in determining future price movement.
Right now, 15 Minute RSI is inside a triangle, or indecision pattern.
Of note, you can see that despite.. the sharp breakdown in price in the S+P
on Friday Dec.7,.. RSI did not configure, or act the same way.
The 15 Minute RSI Low came much earlier this past week.
That is called a DIVERGENCE.
And in this example, it is a Bullish Divergence.
S+P 500 is at a Triple Bottom Low Above 2630, on the 15 Minute Chart.
Next Week, Either PRICE or RSI DIVERGENCE , is going to win out,
and probably win out BIG TIME.
Don't ASSUME you know right now, which direction that is going to be.
If the S+P breaks it's triple bottom low at 2630
PRICE BEING THE DOMINANT FACTOR
then all bets are off as to how low the market could
actually go, in a PANIC situation.
However, if short term Bullish RSI Divergence wins out,
and the dramatic price collapse to conclude the week
triggering the infamous "Death Cross Execution turns out to be an eventual bottom,
then you could see price begin its journey back to the north soon.
The markets are a discounting mechanism.
How much of the this has already been priced in ?
The resolution of this Price/RSI Divergence 15 Minute Pattern
should illuminate almost immediately the markets short term FATE
in trading early next week.
THE_UNWIND
12/8/18
NEW YORK
of paying very close attention to RSI, in ALL TIME FRAMES.