The RSI, the most interesting indicator around and also the indicator that is used in the wrong way by most people!
There are very few around that know how the RSI works! Most people think below 30 is oversold and above 70 is overbought, WRONG!!! You can better buy when it is above 70 and sell below 30!
And about what period you should use, the 14 and nothing else! The RSI isn't created to be used in a 5 period or a 2.
The RSI is a 14 period indicator that shows exactly when we are in a bullish area and when in a bearish area. By the use of channels it leads the way. It show high resistance areas, price targets.
But it does NOT tell you when we are overbought or over sold!!!
So please throw away all TA books that say that it displays oversold/overbought areas but those book tell you alot of bullshi+!
So please, no offence words about my lovely RSI anymore! You only say them because of your lack of knowledge!
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