In this video we take a look at how you can use the classic RSI indicator with our very own Order Flow Trader indicator to develop really profitable trading ideas at key support and resistance levels.
We show you how to identify these levels and how you can use some multi-time frame analysis with OFT to gain premium entries to fantastic trades.
What I am going to show you today is the old RSI Indicator and the ever popular Oversold and Overbought strategy and their probabilities on daily timeframes using default periods. The strategy we will test is whether on a 14 Period RSI we will take a long trade (buy) if we get an Oversold signal, and a short trade (sell) if we get an Overbought signal…
Some of the moves we’ve seen recently have brought into focus a topic which I often get questions about, and that is dealing with weakness in RSI, namely the false readings we can often see in trending markets.
In this video I take a look at a comparison of the classic RSI indicator with own Psychology indicator and show you just how effective Psychology can be in avoiding the downfalls of trading with RSI.