$TRUMP daily RSI is 20.2, in oversold territory, with the current price at 0.952.
Let's talk about what this number means.
“Overbought” means prices have risen too quickly and too sharply recently. It doesn't mean too many people are buying, nor does it mean a drop is imminent.
When you see RSI reach an extreme level, a more prudent response is to first ask yourself: What's the broader trend? Where are the key support levels? Can this position withstand another move in the same direction?
Leave enough room in your contract position. Don't let a single long wick wipe it out.
Let's talk about what this number means.
“Overbought” means prices have risen too quickly and too sharply recently. It doesn't mean too many people are buying, nor does it mean a drop is imminent.
When you see RSI reach an extreme level, a more prudent response is to first ask yourself: What's the broader trend? Where are the key support levels? Can this position withstand another move in the same direction?
Leave enough room in your contract position. Don't let a single long wick wipe it out.