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"Pictures" worth more than thousand words. [10% to 15% correction is coming]
What if we move up another 10-15% this year? Guess we will know this time next year... i do agree with you to a certain degree that your photos show that we are towards the top and anything can happen at this point. Short the top and hope for the best?
Can you help answer these questions from other members on NexusFi?
Records are meant to be broken until we are in a downtrend im bullish, there is no reason to get bearish when the market is still printing bullish signals.... RSI can keep going and going. Until we take the turn, go with the flow and keep in the back of your mind we might be taking the turn here in the next few months. Thats my POV im a short term trader but if you want to hold this animal i wish you the best of luck and that you tell me i was wrong in a year from now lol.
haa please define momentum for me, you are currently predicting the future because a few charts point to the top of a very large move up... that very well could happen but the "momentum" is up right now. Like you mentioned in your previous post "blow off top" you only do this with momentum... but please jump in front of this train
I'm not sure other people's experience using RSI, I think it's pretty reliable when market is choppy or in ping pong mode, but I got killed so many times before and decided taking it out of my chart since it won't help whatsoever when it's in trending mode. I haven't really look into it in term of daily or weekly chart tho.
I do not use RSI even though I do have a custom made RSI but honestly I rarely use [and if I would use it I would use it on higher TF, because of the noise factor on lower TF].
I just find this type of analysis very useful and I am putting this puzzle for you guys to interact and for my own research and improvement as I have plans in the future to develop a Fundamental/Macro/Intermarket/Seasonal analysis tool in Python.
