$JCT Daily RSI is 75.4, entering overbought territory.
How is this number calculated?
RSI (Relative Strength Index) was developed by Welles Wilder. It is calculated using the average gains and average losses over the most recent 14 candlesticks, and ranges from 0 to 100.
Overbought and oversold signals on longer timeframes generally carry more weight than those on shorter timeframes. Shorter timeframes produce more readings and more false signals.
Unusually high or low readings often come with more dramatic volatility. At such times, it’s better to reduce your position size rather than make a big bet.
#JCT
Don’t use this as the basis for making trading decisions.
How is this number calculated?
RSI (Relative Strength Index) was developed by Welles Wilder. It is calculated using the average gains and average losses over the most recent 14 candlesticks, and ranges from 0 to 100.
Overbought and oversold signals on longer timeframes generally carry more weight than those on shorter timeframes. Shorter timeframes produce more readings and more false signals.
Unusually high or low readings often come with more dramatic volatility. At such times, it’s better to reduce your position size rather than make a big bet.
#JCT
Don’t use this as the basis for making trading decisions.