when i start my trading day i first look at the rsi in relation to its water mark that is where it is? if it is above the 50 mark i know we are in an uptrend and if it is below the 50 mark i know we are in a downtrend. Then off course i consult the other indicators like macd and stochastic to have a clearer and better direction as to where the market is going remember the two things you want to know in trading are what is the direction of the market and where is it that you will enter to take profit at the right moment understanding rsi in conjunction with these other indicator and the use of pivot points has been the best way of knowing when to enter the market.
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This is a trade i entered sometime ago note how the rsi crossed it 50 mark to indicate that we are now in a down trend.back test these indicator on anytime frame but i recommend you tested and using it on the one hour chart as it has proven to give more accurate and trusted signal there.
happy trading!!!
