Replies to post #20002 on ETF SWING & DAY TRADING

[cruzship]

Torq, I watched the RSI-5 get above 50 today and wondered at that time if that was enough to trigger a sell. Judging by price action today, there were those that thought just that because once the RSI-5 50 level was exceeded price fell the rest of the day.

I believe the vto modified is played with end of day values for RSI-5. Perhaps Nocona or another more familiar with the system can clear this up for us.

[KovuLK]

Torqputty re: RSI-5 met for now?


I saw that and thought the same. I know we are to use close but I can see that this is when you could get the double move below 30 that 2X mentioned earlier, post #20004.

We will see soon

Thanks
kovu

[2X-Be-Me]

Torqputty, yes, you're right, the RSI5 just barely exceeded 50 (about 51.5) on the hourly chart yesterday. This brings up a couple of important questions. Was the RSI5 play complete based on yesterday's hourly chart? Or does one rely on the RSI5 exceeding 50 on the daily chart before deciding if the signal has played out? I thought Nocona used the daily chart? Am I wrong? 2X