The one thing that makes the RSI Magical
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- Опубліковано 28 вер 2024
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The three most popular uses of the RSI are Overbought/Oversold, Breakouts, and Divergences. However, it's well known that these signals often fail. In this video, we discussed the ONE THING needed to improve these signals for high probability trade setups and better trading outcomes.
Here's what you'll learn:
✔️ Top and Bottom Signals: Understanding proper rules for SELLING and BUYING using RSI overbought and oversold conditions.
✔️ Improving Strategies: Enhancing the Top and Bottom approach by applying the Dual Frame Trading Strategy (DFTS).
✔️ Trend Analysis: How to determine trends using multiple time frames and various tools such as moving averages, trend lines, wave counts, and candlestick patterns.
✔️ Practical Examples: Real-world charts illustrating the application of these strategies for the Dollar Index and Crude Oil.
Elliott Wave Integration: Using RSI signals to identify wave counts for optimal entry points.
✔️ Dual Frame Trading Strategy (DFTS):
Learn how to utilize two time frames to increase the odds of successful trades. See how to apply this method with detailed examples and improve your trading strategy with actionable insights.
Watch till the end for pro tips on maximizing your RSI strategy effectiveness!
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Thanks for this great information. Please what RSI setting you use for this strategy?
Thank you for the feedback! You want to use the original 14 period that Welles Wilder intended. He used this period based on Market and nature cycles. However, if you intend to day trade using a very low time frame (not recommended), you will do well lowering the period to a 9 or a 7. My recommendation for swing trading is to use the 14 period. I hope it helps you.
@@TechnicalAnalysisInstitutewhat time frame do you recommend is best for day trading and which for scalping (both using this strategy), and which settings for the RSI for each? If you can only answer one, then I am mostly interested in the day trading answer. New subscriber!
@@guerrerosdigitales Honestly, none! I am 100% against day trading and scalping. I believe that's the closest activity to gambling and it explains why so many traders lose and so often. While my view is subjective, there are plenty of research papers written about it where researchers have found that it is virtually impossible to day trade for profits. These researches have been done throughout decades always with similar conclusions.
Thanks a lot. I have learned something new good MR
Glad to hear that. Thank you so much for your feedback!
Such an amazing video! Thank you
Thank you so much for such nice comment and feedback. Comments like this inspire us to make more videos like this. Stay tuned!
Help ! We have a big problem: REGARDING THE 2 TIME FRAMES- the METATRADER 5 and Tradingview have time frames of 4 hours not 5 hourS OR 6 HOURS : SO , HOW TO CHOOSE OTHER TIME FRAMES ?
I'm not sure I understand. If you are saying that TradingView does not allow to have a 5 or 6 hour time frame, you're mistaken. You can easily adjust the time frames in trading view by clicking on the time frame selector (usually showing the current time frame, like "1D" for one day).
Click on "Add" or "Create custom time interval".
Enter the desired time frame (e.g., 5H for 5 hours or 6H for 6 hours) and save it. I hope this helps you. If my instructions are not clear, I am sure tradingview has instructional videos for this type of things. Best Luck!
@@TechnicalAnalysisInstitute thank you. I tried this right now , but it is not allowed for free account. Can you give me an idea how to choose other time frame in these conditions ?
Wonderful, thank you very much Sir
Thank you so much for your kind feedback. I do hope the strategy helps you find a few winners every week.
Wonderful 🎉
Thank you for your feedback. I'm glad you found it useful.
Sir can you teach us some trading strategies having high reward to risk ratio. Because many of my friends are making in millions .
Thanks for your comment! I’m glad you’re interested in learning more about trading strategies with us. Although trading strategies are a very minuscule part of the success equation in trading, I suggest checking out some of our previously published videos where we cover various effective strategies. These are great to start with and you can test them out to see what works best for you.
Additionally, consulting with your friends who are making millions could provide valuable insights and personalized advice.
Thank you for your question and feedback.
Learn how Market Structure work first.
(not official financial advice) I'm putting a call option in Papa Johns today $50 calls Exp. June 12th due to extremely oversold RSI never seen an RSI this oversold it's a bad company but keep in mind this is a lotto ticket not an investment
Excellent information and well explained. Thank you very much.
I thank YOU for your kind words and nice feedback. I hope the strategy helps you make lots of money!
If you would do a live trade then everyone can believe your strategy works.
I’ve conducted thousands of live trades, and just because you haven't seen them doesn't mean they haven't happened. In fact, on this very channel, I’ve announced trades that have performed quite well. To date, none of the trades I've shared here have failed. Additionally, I provide daily updates and follow-ups on trades for the Technical Analyst Guild, ensuring continuous insights on how the strategies are applied in real-time. However, I'm not here to prove my credibility. It's up to the viewer to try the strategies and see if they work for them.
I recall that during the brief period you offered the UA-cam membership, you shared two trades with us, both of which generated hundreds of dollars. I really wish you had kept the membership open. Obviously, @pucheou was not there at the time or when you gave the Bitcoin trade or suggested to shorten the dollar.
Simple and straight! Thanks a lot . I have learnt something new and workable.
Thank you for your kind words. I'm so glad you found it useful. I sincerely hope it contributes to your success.
Thanks for another insightful video.. and so good to see you again 😊
Long live Prof and the TA Institute team 🙏🏼
Thank you so much for your kind words and support! 😊 I'm glad you enjoyed the video. Long live Prof and the TA Institute team indeed! 🙏🏼
But you know what... we will be nothing without subscribers like you. In fact it's comment like yours that help us in our determination to continue with the channel and what to offer in it.
Happy trading, and stay tuned for more insightful content!
Wow. Thank u sir. A new subscriber here.
Welcome to our channel and thank you kindly for subscribing. There is a ton of valuable content here that I hope you can benefit from. And if you need something particular, please don't hesitate to ask. Happy Trading!
Amazing 😊
Thank you for your kind feedback! I hope the video helps you see better the advantages of the RSI and maybe profit from it.
Ⓜ Get Technical Analysis Mastery: technicalanalysisinstitute.com/mastery/
hello there
Very valuable information about the RSI
for this strategy just use period 14 for the RSI.
@@jaywisdom4414 It depends on your time frame. If you use it below 1H you may do better using the 9 period. Please test it! Thank you for your question.
Please lose the music its very distracting
Thank you for your feedback.