The RSI may be foretelling a drop in price presenting a buying opportunity at lower prices. See chart for details.
This doesn't work all the time. One nice thing is that you do not have to invest any money to find out either way. You sit and watch the chart. If price falls enough for you, then buy. it's that simple.
@EtherSwinger, That does happen. Indicators work until they don't. You don't have to invest money either way to find out what will happen.You're watching to see what price will do. If price falls, it could be a good buy in at lower prices. Good question.
@EtherSwinger, Good question. When price continues to rise and so does rsi, which does happen, you have not lost because you have not invested any money yet. You are simply watching the chart to see if price will come down giving you the opportunity to buy in at lower prices. If not, all you do is adjust your strategy and watch for another opportunity. There will always be one.
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