Resistance or Support

Just wanted to share something that was told to me over a year ago that I got to experience firsthand today, in fact, a few minutes ago.

I use various timeframes, typically, 3 & 15 min. timeframes. Today and yesterday I did use the 1 and 30 min. timeframes to get a closer & more short-term macro view of the market.

On the 3 min., RSI was nearly overbought. As I switched to the 1-min., it was already in overbought and nearly 90. RSI can never go above 100 or below 0. So, if one timeframe is way in overbought, it will have to pullback.

Now, how all these things work in conjunction always amazes me.
0 Responses

Amazon Store