Quick, light update: $JCT ’s daily RSI is 75.4, putting it in overbought territory.
RSI is 75.4, and my heart rate’s gone up too.
Seriously, the 14 in RSI means 14 candles: on a 4-hour chart, that’s a little over two days (56 hours); on a daily chart, it’s exactly two weeks.
It’s much more reliable to work out your position size based on where you place your stop-loss than to go by gut feeling.
#JCT
Just my personal opinion—not trading advice.
RSI is 75.4, and my heart rate’s gone up too.
Seriously, the 14 in RSI means 14 candles: on a 4-hour chart, that’s a little over two days (56 hours); on a daily chart, it’s exactly two weeks.
It’s much more reliable to work out your position size based on where you place your stop-loss than to go by gut feeling.
#JCT
Just my personal opinion—not trading advice.