Hi all,
first i hope you don't mind if i post in your forums since i'm pretty new and i should be in the Q&A forums...
second....i have been looking at charts and price action for two weeks and building on a system that i have in mind...so far i have tested it backwards, and last week with a play ccount. The point is i try to sell when it's overbought, and buy when oversold, based on a 9 RSI, 15 mins chart.
Now i have noticed that whenever and overbought or oversold condition begins, no matter how much in overbought / oversold it can go ( oversold dipped this friday for more than 40 pips on EUR/USD ) at the end it always comes out at least at the highest point of the candle it went into. ( btw: it seems it does not apply for USD/YPJ).
Apart from me being unable to wait for hours for the inversion of trend, is this a statement that could have any fundation? is it true that it always comes back out?
thx
first i hope you don't mind if i post in your forums since i'm pretty new and i should be in the Q&A forums...
second....i have been looking at charts and price action for two weeks and building on a system that i have in mind...so far i have tested it backwards, and last week with a play ccount. The point is i try to sell when it's overbought, and buy when oversold, based on a 9 RSI, 15 mins chart.
Now i have noticed that whenever and overbought or oversold condition begins, no matter how much in overbought / oversold it can go ( oversold dipped this friday for more than 40 pips on EUR/USD ) at the end it always comes out at least at the highest point of the candle it went into. ( btw: it seems it does not apply for USD/YPJ).
Apart from me being unable to wait for hours for the inversion of trend, is this a statement that could have any fundation? is it true that it always comes back out?
thx
I might not know, I might not have the money, but remember, I have TIME!