I like the look of things like RSI and bollinger bands for deciding when something is overbought or oversold. It looks a little too easy though. Can’t be that easy can it? Does anyone trade using these strategis?
All these indicators what is really the difference between them all? I’ve read some stuff on them but it mostly doesnt make sense. I see that sometimes RSI can be all the way at the bottom but price keep sfalling. And I have compared a bunch of them and the lines don’t look that different. They mostly come out in about the same places but maybe some are closer than others. I guess it depnds also if youre looking at daily chart or something else. Sorry typing on phonre lol
Indicators like this are all rash. Look at market profile, volume profile instead. Read the price action.
Thanks I looked up market profile and it seems really complicated. Is there a good book or site you can suggest for somenone starting out with it?
Well the “Bible” books are Markets in Profile and Mind over Markets but there’s loads of stuff online too. tbh your best bet is gonna be just to look at a lot of MP charts and VPs until you get a sense of it. A lot of the stuff thats’s put out there on twitter & wherever is kinda crap imo. I think its mostly an experience thing.
nice I will check out those books thanks again!