$WAL Daily RSI is 76.4, entering overbought territory.
Folks, what is RSI? Here’s the short version👇
RSI (Relative Strength Index) was developed by Welles Wilder. It’s calculated using the average gains and average losses over the most recent 14 candlesticks, and ranges from 0 to 100.
When RSI enters overbought or oversold territory, a more prudent response is to first ask yourself: What’s the overall trend? Where has the price been lately? Can my position withstand a move in the opposite direction?
Extreme readings often come with sharper swings. At times like these, it’s wiser to reduce leverage rather than make a big bet.
#WAL
Folks, what is RSI? Here’s the short version👇
RSI (Relative Strength Index) was developed by Welles Wilder. It’s calculated using the average gains and average losses over the most recent 14 candlesticks, and ranges from 0 to 100.
When RSI enters overbought or oversold territory, a more prudent response is to first ask yourself: What’s the overall trend? Where has the price been lately? Can my position withstand a move in the opposite direction?
Extreme readings often come with sharper swings. At times like these, it’s wiser to reduce leverage rather than make a big bet.
#WAL