What should I do if the RSI goes below 30?

The RSI fell below 30, prompting us to look for potential trades. As the RSI became oversold, ES found support and printed a nice bullish inside bar. We went long a tick above it and caught the low of the trading session.

How to trade with the RSI for day?

Trading Rules – Day Trading with the RSI Long Day Trade. 14-period RSI is below 30. (oversold) Price is testing a support zone. Buy above any bullish price bar. Short Day Trade. 14-period RSI is above 70. (overbought) Price is testing a resistance zone. Sell below any bearish price bar. Examples – Day Trading with the RSI

Which is better RSI or 2 period RSI?

When your alerts sound off, take a closer look to assess the quality of the trading setups. If you still prefer a more sensitive indicator, try the 2-period RSI. Day trading need not be an affair of rapid trades. By taking fewer trades, you have more time to analyze the larger picture. This is the merit of this RSI day trading strategy.

How to trade RSI support and resistance breakout?

Those who like to trade based on technical analysis and support and resistance breakout can have RSI (9) on their charts and take the advantage of the early and leading breakouts that RSI forms.

What does RSI stand for in trading strategy?

The RSI is a key component of many trend trading strategies. No one else shares how to trade it with step by step instructions. You will only find detailed instructions here. This can also be used with your forex trading strategies if it is your market of choice. RSI stands for the relative strength index.

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When was the last time the RSI was below 40?

There was one overshoot below 40 in July 2004, but RSI held the 40-50 zone at least five times from January 2005 until October 2007 (green arrows). In fact, notice that pullbacks to this zone provided low risk entry points to participate in the uptrend.