action and the RSI indicator, meaning that the price of this pair is likely due for an increase. RSI Oscillator Signals, there are three basic signals provided by the Relative Strength Index technical indicator. Traders expect the RSI to bounce from 30 and 70 threshold lines. The closer this line gets to the zero mark the higher are the chances that the asset is oversold. Bearish RSI divergence The price is increasing while the RSI line is decreasing.
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The 14 period is the one period that best reflects this indicators capabilities. Excellent, lets do that! Yet, retail traders have a hard time grasping its importance. Put a stop loss order beyond the top/bottom created at the moment of the reversal. The RSI enters the oversold area and creates a bullish divergence as well. But what to do when trends reverse? Look for important economic news. Above is the eurgbp daily chart. If you are entering on an overbought/oversold signal, then you would buy/sell the currency pair when the price action exits the respective threshold on the RSI indicator. Entering RSI Price Action Trade You would look to open your trade when you find a RSI signal confirming the direction.
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