Do RSI Overbought/Oversold Strategies Work? (Use THIS Instead!)
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- เผยแพร่เมื่อ 30 ก.ย. 2024
- This is a video about RSI overbought/oversold strategies, the andrews pitchfork, and technical analysis secrets.
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Thanks for the great video, I also wanted to add that it is possible to go short not as soon as the rsi crossed up the 70 line, we got to wait that it spends time in overbought/sold zone and once the rsi starts to cross below 70 then you can go short/long.
Sir - I wanted to take one of your course but need your help to understand which one should I opt for. My requirement is to be a investor with the holding period from 1-3 years. Please guide. I am already learning alot from the free courses :)
Since your last video I've tried placing the Andrews Pitchfork several times but not sure I'm placing it in the right spots. Price didn't seem to respect it. Please make a video for dummies like me to help place it right. Thanks. Another great video though. Your knowledge is supreme. Also, what do you think the EUR/USD will do tomorrow?
As I said in the video, there is a lot that goes into placing the pitchfork in the right places. I made several courses just to deal with that problem. I don't recommend you trade the EUR/USD directionally around the election. You can get away with some types of volatility trades though.
@@fractalflowpro I actually have a trading robot in place. It is in profit at the moment but I'm wondering if I should turn it off. LOL. I might just watch and see as it's only a demo account and I'm testing it atm.
In your last example, the 5min candle chart, you used the rsi incorrectly, you don't buy when rsi moves down across the oversold line,you buy when it moves upward and out of oversold. You did the same thing with your first example of the overbought signal. Exit when rsi moves down from overbought. Not up into it.
great vid. ive noticed that on the macro charts especially, waiting for oscillators to cross back over that 30/70 threshold is another great way of not calling the top or bottom too early. the pitchfork is a great tool as well
Yes, those thresholds are not good. That's because when you transform a nonstationary time series into a stationary one, you'll inevitably distort it.
There was a reversal divergence at the centerline with an inside bar. I still can't believe there is a better tool than the pitchfork
M following ur channel.
Thanks
Great knowledge sharing sir, thanks
Круто!
You are different from others. Your explnation is really very good. Thank you
New discovery about RSI ! Lucid Explanation!
Rsi_ 40 to 60 neutral zone above 60 uptrend, below 40 downtrend
No. The entire video is precisely about how that's incorrect.
Talking about trend continuation, not overbought reversal
@@himanshubatar4745 Still wrong.
The 50 line is the median so if the RSI is above it then its considered bullish and if its below it then it indicates that the trend is bearish
Sorry, but that means absolutely nothing.
Please explain pitchfork along with heikenashi candlesticks.
Really appreciate your analysis with pickfork tool.
so you expect the reversal at the middle (median) line and not the outer parralels? I thought you were supposed to wait for it to reach the extreme for a reversal?
which levels of PF should use? 0.75, 1, 1.75? Pls advise.
Sir which indicator r u talking about can u please tell where can i get in trading view
Please do video on types of pitchforks and their uses in different time frames.
Sir please pitchfork sitting
Nice video, but what's the point of using a pitchfork if you're only looking at the center line? Wouldn't it be the same as using a regular trend line?
As I said, there are multiple uses of the pitchfork. This is just one of them in one of the possible scenarios.
Thanks, keep doing the good job 👍
thank you for your information
thank you. good information
I learned a lot from your free video. Love you ❤❤
bro what is this tool ?
YOU ARE GREAT
🙌🙌🙌
Please do a book recommendation.
How's the institutional methods and PAT4 going?
I finished the first institutional book and about 80% of all the other 5 books. I haven't even touched on the PAT4
Wow. You're fast. When will do a book recommendation like you did before?
What topic are you interested in exactly?
Economic systems, math relevant to trading and maybe politics.
For economic systems you can read any macroeconomic manual (I wrote one also that will be given with the instituional methods). Math relevant to trading is differential and multivariate calculus. Politics is a good idea that you understand how political systems vary from left to right and vice versa, but the literature on that is immense.
Man! I always learn when I watch your videos...!! Can't wait to make a little money to get your course! Thank you!
hey Eduardo, i liked your courses a lot so far and made a few nice trades. I have a question regarding screentime.. How do you handle finding opportunities throughout the day with your methodics? 24/7 screentime or alarms? Or smth i am not aware off?
greets Alex
I reserve a few hours of the day to trade and focus entirely on that during that time
You can decide to bump in and out of the market after a specific number of hours