Technical Notes｜$AIN ｜Daily RSI(14) 76.5｜Overbought
First, the definition: RSI is calculated using closing prices only; it does not consider trading volume, and it also does not reflect wicks or spikes that occur during the candlestick’s formation.
Next, how to read it: in a one-way uptrend, RSI can stay above 70 for quite a while; in a one-way downtrend, it can likewise remain below 30 for a long time. Overbought and oversold do not mean an immediate reversal.
Do not chase the trade at the most volatile moment; wait for the price to stabilize before looking at it.
#AIN
First, the definition: RSI is calculated using closing prices only; it does not consider trading volume, and it also does not reflect wicks or spikes that occur during the candlestick’s formation.
Next, how to read it: in a one-way uptrend, RSI can stay above 70 for quite a while; in a one-way downtrend, it can likewise remain below 30 for a long time. Overbought and oversold do not mean an immediate reversal.
Do not chase the trade at the most volatile moment; wait for the price to stabilize before looking at it.
#AIN
