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Action on the RSI trend line
Symmetrical shapes can be drawn threw on the RSI as price trend lines are tested, as the week
is still fluid it can simply change its directory, pull back, flatten etc.
the point is, just because it is currently penetrated does not mean the RSI trend is broken, it can make
patterns that are almost perfectly symmetrical as a holding consolidates or takes a few days
to change momentum.
Very nice +ve divergence on the hourly chart as the RSI was rejected try to break 30.9
making an intra day low but the RSI was not, very often, not always a bottom of a trend.
is still fluid it can simply change its directory, pull back, flatten etc.
the point is, just because it is currently penetrated does not mean the RSI trend is broken, it can make
patterns that are almost perfectly symmetrical as a holding consolidates or takes a few days
to change momentum.
Very nice +ve divergence on the hourly chart as the RSI was rejected try to break 30.9
making an intra day low but the RSI was not, very often, not always a bottom of a trend.
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