The RSI is a great indicator. have been using the RSI very successfully. But I still struggle with the "sideway" market. I never thought of using the 45-55 range on the RSI. Thank you, Thank you, Thank you. Ed
@@normanmulenga223 Hey Norman, Happy to help. First I only trade options on Think or Swim (TOS). BUt use the Trading View chart to guide me instead of TOS. I feel the Trading View Charts are more colorful and easier to see. Although both give the same information. Second, on Trading view I use the indicator "RSI + backlight overbourght/oversold" by Cryto_insider. His RSI forms a cloud when the price is over 70% and under 30%. When the cloud forms over 70% I place a trade and stay in it until the cloud starts coming down. Same on selling. I start when the cloud forms at 30% and for example may continue down to 20%. When the cloud comes back to 30% or 32% I get out. So far I have not loss a trade. But you have to wait till it is 30 or 70%. In the past I started trading when the RSI crossed the 50% up or down. But it seem the candles always came back fast.
@@normanmulenga223 I am not sure how experience you are so to give you an example look at Tesla yesterday 3-22-24. Using the Cloud as a strategy, I waited till 8:55 a.m. to start my trade. You have to be patience. Candles went up $5.00. I exit at 9:30 a.m. with 10 contracts. You can see the cloud go up and come down. After I was finish and did well and finish for the day. If you want to continue trading look at the cloud forming at 12:05 p.m. and finish at 12:50 p.m. I am happy only trading in the early morning. Then enjoy the rest of the day. ONLY trade with the Cloud. I never trade without the cloud. Becare to see that it moves up a lot and not just a little bit like at 10:20 a.m. BE PATIENCE. Let me know if you understood.. Good Luck
@@normanmulenga223 it was as per the video, watch it again to fully understand. My take on it was if MA 10 crossover MA 34 on the upside, it's bullish signal. To confirm if it's a bullish buy signal, wait until the RSI breaks above the 55 mark. Conversely, it'll be the opposite condition for the bearish signal in terms of MA 10 crossover. To confirm if it's a bearish sell signal, wait until the RSI breaks below the 45 mark. Hope that helps.
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Very good Video explaining in a simple way. 1 Question if the 10RSI cross below 45 for a sell can I enter the trade when the MA's cross and not wait, becauseuase sometimes the RSI does not move back and just move in one direction. I know this a bit aggressive.
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