$ICNT 4 hours RSI is 78.4, entering overbought territory.
When I first started learning technical analysis, I’d exit as soon as I saw the RSI was overbought. It took me a while to understand: an RSI above 70 is called overbought, which simply means that recent gains account for a relatively large share of price movements. In a strong trend, it can stay elevated for a long time; being overbought alone is not a signal to exit.
Leave yourself plenty of room when sizing futures positions. Don’t let a single wick force you out of your position.
For reference only. Make your own trading decisions.
When I first started learning technical analysis, I’d exit as soon as I saw the RSI was overbought. It took me a while to understand: an RSI above 70 is called overbought, which simply means that recent gains account for a relatively large share of price movements. In a strong trend, it can stay elevated for a long time; being overbought alone is not a signal to exit.
Leave yourself plenty of room when sizing futures positions. Don’t let a single wick force you out of your position.
For reference only. Make your own trading decisions.