Posted:
#26
1Iron,
The EU.AUD pair, they went down like 1500 pips before they FINALLY reversed it, and that made me see for the first time that the RSI and DI lines arent fully legit at all, they can be overbought or sold for a VERY extended time and not show at all to the real extent of the move.
I wonder if there is an indicator that doesnt bottom or top out and really will keep falling and falling or rising and rising and show real info versus when it hits extremes it stops showing as it should.
Check the 4 hr chart on the EU.AUD and notice that even though the pair kept falling and falling and falling, the RSI never went much below 30 even though the pair went down 600 more pips than the bottom shown RSI and DI wise.
What I learned is that going against a strong counter currency requires a ton of patience and deep pockets, but buying into the drop DID end up paying off, I kind of wish I knew what the figure was though..lol
The EU.AUD pair, they went down like 1500 pips before they FINALLY reversed it, and that made me see for the first time that the RSI and DI lines arent fully legit at all, they can be overbought or sold for a VERY extended time and not show at all to the real extent of the move.
I wonder if there is an indicator that doesnt bottom or top out and really will keep falling and falling or rising and rising and show real info versus when it hits extremes it stops showing as it should.
Check the 4 hr chart on the EU.AUD and notice that even though the pair kept falling and falling and falling, the RSI never went much below 30 even though the pair went down 600 more pips than the bottom shown RSI and DI wise.
What I learned is that going against a strong counter currency requires a ton of patience and deep pockets, but buying into the drop DID end up paying off, I kind of wish I knew what the figure was though..lol
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