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EURCHF LOSS

20th November 2018 contacttf

The relative strength index (RSI) is most commonly used to indicate temporary overbought or oversold conditions in a market. An intraday forex trading strategy can be devised to take advantage of indications from the RSI that a market is overextended and therefore likely to retrace.

I got back in again, thinking the setup was right this time.

This was a wrong call again. I think I am on the wrong side in the short term.

Perhaps, my support is incorrectly drawn.

In hindsight, I should have noticed the candle wicks were showing bearish signal. I will need to learn from this.

The relative strength index (RSI) is most commonly used to indicate temporary overbought or oversold conditions in a market. An intraday forex trading strategy can be devised to take advantage of indications from the RSI that a market is overextended and therefore likely to retrace.