RSI vs Real price

in #trading3 years ago

hey

i have not been here for a long time, i realized that long and deep posts are not suitable for me.

i do not promise, but i'll try to post more often, but in a completely different style than before.

my posts are now shorter and less thoughtful. if you don't like my new style unfollow or use the downvote button :)

RSI vs real price, how to predict a reversal?

this week on friday i was trading Amazon shares (AMZN), and once again i noticed this little thing:

the chart made a lower low but RSI made a higher high + it was oversold

many traders with whom i trade together wanted to put or short at that point (predict that the price will go down)

i wanted to do the same but just in case, i checked the RSI and i ended up doing the exact opposite

it turned out well and i got a sweet profit from there

now its moving pretty much sideways and if it breaks the upper line and bounces on it then i'm looking to long it again

please let me know what do you think about this strategy in the comments

:)