Help needed to understand the RSI
Submitted by laurentyew on January 25, 2008 - 01:26.
Hi,
This is the best forex website ever. Many thanks to all the people who started and supported it.
I'm very new to forex(been in for about 1 month) and would like to seek some help on understanding a few things. Attached is a picture of a trade that i made which ended in loss(Usng the simple balance strategy posted here)
I started my entry when all the signs suggested was right and exited once the RSI crossed over the 50 mark. But a got a loss. After a few days of observation using the same strategy, i noticed that the pips will drop whenever the RSI is moving towards the 50 mark. Please advise is my observation correct ? and what when wrong for the situation that i posted.Many Thanks
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RSI is 1 of the most remarkable Indicators, the Used of RSI is many2 ways.
e.q. Andrew Cardwell used RSI (14)for gave us a clue the market in Bull (between lines 80 - 40), Bear (60 - 20), or event Sideways (60-40). & many2 more we can use a more variation we can add 9 SMA & 45 WMA in those RSI & the Price too to confirm the direction, etc ...
Hope this information can be useful
Regards
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