The market is cracking jokes again: $ELSA daily RSI is 78.3, entering overbought territory, with the current price at 0.09362.
RSI 78.3—and my blood pressure is rising too.
Seriously, the 14 in RSI refers to 14 candlesticks: on a 4-hour chart, that’s a little over two days (56 hours); on a daily chart, it’s exactly two weeks.
Any indicator is just a summary of past market action, and prices can absolutely move in the opposite direction.
#ELSA
NFA. Do your own research.
RSI 78.3—and my blood pressure is rising too.
Seriously, the 14 in RSI refers to 14 candlesticks: on a 4-hour chart, that’s a little over two days (56 hours); on a daily chart, it’s exactly two weeks.
Any indicator is just a summary of past market action, and prices can absolutely move in the opposite direction.
#ELSA
NFA. Do your own research.