Posted by frtaylor on 23rd of Apr 2012 at 03:09 pm
Steve, on SPX, the RSI 5 is below 30 on the 60 min chart.
Turning back above 30, can this be used as a long signal or
trigger (for a short trade, maybe a day or two) under current
conditions? You've pm'd me before about this scenario, but
I'm unsure given our current position. Perhaps only if we are
still considered to be in a longer term uptrend?
use that with other indicators, trendlines etc. for
example is divergence in place or not, did price reverse near a MA
or is there one nearby. is the 25,170,25 Histogram above zero
or below zero. Is the Double stochastics positive or
negative. RSI 5 on a 60 min chart is not a trigger by
itself, use it conjunction with other things
Posted by frtaylor on 23rd of Apr 2012 at 03:15 pm
Thx, I am also watching some of those, tho haven't put that new
stochastics on my charts. I was especially curious if you
guys considered today's move as putting the long term uptrend in
jeapardy. Certainly, we are just barely above the neckline of
the H/S pattern on the daily.
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60 mi RSI 5 trade?
Posted by frtaylor on 23rd of Apr 2012 at 03:09 pm
Steve, on SPX, the RSI 5 is below 30 on the 60 min chart. Turning back above 30, can this be used as a long signal or trigger (for a short trade, maybe a day or two) under current conditions? You've pm'd me before about this scenario, but I'm unsure given our current position. Perhaps only if we are still considered to be in a longer term uptrend?
use that with other indicators,
Posted by matt on 23rd of Apr 2012 at 03:12 pm
use that with other indicators, trendlines etc. for example is divergence in place or not, did price reverse near a MA or is there one nearby. is the 25,170,25 Histogram above zero or below zero. Is the Double stochastics positive or negative. RSI 5 on a 60 min chart is not a trigger by itself, use it conjunction with other things
Thx, I am also watching
Posted by frtaylor on 23rd of Apr 2012 at 03:15 pm
Thx, I am also watching some of those, tho haven't put that new stochastics on my charts. I was especially curious if you guys considered today's move as putting the long term uptrend in jeapardy. Certainly, we are just barely above the neckline of the H/S pattern on the daily.