jangseohee
Short

Every overbought signals sell?

374 4 1
With the data i have here, it seems to me that every time when there is a weekly overbought condition in RSI , we will have a decent correction for the past three times.
An overbought condition doesn't not mean that the pair will crash overnight!
It just means high chances that after one or two weekly bars, price are likely to reverse.
Besides, given such a strong overbought condition, i suspect yet another leg of higher high with a lower high in RSI to give rise to a bearish divergence in future.

Last up wave is a clear indication that no, not every overbought level signals sell.
Reply
jangseohee vlad.adrian
2 years ago
Hi Teacher, i am sure though it is not a crash, some kind of decent retracement would happen
Reply
vlad.adrian PRO jangseohee
2 years ago
Probably. I was talking about the signals in general
Reply
jangseohee vlad.adrian
2 years ago
I do know that RSI can be overbought or oversold for extended time
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener 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 Billing Sign Out