The RSI Secret That Wins Me 30% on Every Trade 📈
I used to be confused by technical charts, until I found this one indicator. The Relative Strength Index, or RSI, is a simple tool that has helped me snipe entries and exits for consistent 30%+ wins. Here’s the simple strategy.
What is the RSI?
The RSI measures the speed and change of price movements. It’s a momentum indicator that tells you if a coin is overbought or oversold.
Here’s how to use it:
* Overbought: When the RSI goes above 70, it signals the coin is likely overbought and due for a pullback. This is a potential signal to exit a long position or look for a short.
* Oversold: When the RSI drops below 30, it suggests the coin is oversold and could be ready for a bounce. This is a great signal to look for a long entry.
🎯 My RSI Trading Rules:
* Wait for the signal. Don’t trade on momentum alone. Wait for the RSI to hit the 70 or 30 mark.
* Look for confirmation. Check for other signals, like a support/resistance level or a bullish divergence, to confirm your trade.
* Plan your exit. Once you're in, know where you'll take profits or cut losses.
Do you use the RSI in your trading? Drop your favorite indicator below 👇