/biz/ - Business & Finance

>>7849210
Th 4hr and daily rsi are best to catch larger swing highs and lows, but it's good to check rsi on multiple timeframes for confirmation.

Also before a big drop you may get successive multiple peaks in price, with lower rsi readings on each on.

E,g, we may still get one more move up slightly above the recent high with a lower rsi reading. I'm not suggesting that will happen, but it could, so you have to use other indicators, TA, etc. What's more likely in this case is we drop to below 30 in rsi and make a higher rsi reading with a lower price before the next reliable upswing. But on the smaller timeframes, you will see more violent action, so even though it seems we are close to 30, it could take a while to get there and that could mean a much lower price that where we're currently at. I'd just suggest following rsi on multiple timeframes for a few weeks to get a feel for how it works. Support/resistance trendlines work well on rsi too to indicate changes in trend.