I am in the learning phase I have 1 interesting chart can we take trade in RBL bank by just watching RSI to get advantage of overbought and exit early.Please guide
i would advise you not to rely on just one indicator. I have used RSI personally and most of times,the stock keeps moving up even when RSI is in overbought level.
And your image is not clear.
difficult to make out anything from it.
Actually I made a loss in this trade as RSI is oversold so I tried to get advantage but because of greed I lost.I have seen 0.3% target already there but I didn’t booked that
Never rely on one indicator, RSI can stay Overbought or Oversold for prolonged period of time, RSI is in Overbought or Oversold doesn’t mean their will be reversal.
No not reverse but for minute spike can we play for that.That is my question?
first do paper trading with this strategy and then use it in market.
The RSI is 44….how did you decide it was overbought? and i think you will have better results with 5 min candle for intraday
At 13:52 order for short sell and cover in 2-3 minutes for 0.3 or 0.5% profit??
using RSI on 1min chart is too undecisive. Should use RSI with 15 or 30 min candle if your goal is only for one trade per day.
The same chart can have 20 different ways of interpretation. And surprisingly, that 20 ways can be smart.
You ask for opinions, you ll get opinions. But opinions are not solutions. Filter it and focus it in what you see. Don’t let opinions ruin the buildup of what you might be able to see years later.
The faster you get out of these indicators the better. These are all some sort of calculations of price. Overbought doesn’t mean that price will turn, it can continue going up and remain overbought. Price is the true indicator of all. Read price and you will read the motives of the ones who move the market. See the topic Price is everything.
Hi. This is a nice chart. I am a learner. Can u please inform regarding the pink indicators marked at right side vertically.
Volume at particular price.More the pink bar more is the volume at that price point.Please correct me if I am wrong