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It really depends on how you use it in combination with your setups. I wouldnt trust the RSI alone. However, I have one setup in which I look for a RSI divergence at a key pivot point. I like seeing price and RSI divergence for confirmation only. This is not a trading signal but just a confirmation of a particular setup I use.
I wouldnt consider the RSI to be a stupid indicator. You just need to apply it correctly in your setups. Also have a entry and exit plan for the particular setup. |
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PERFECT...thats the same way i use it...couldnt of said it any better
