@ellamitchell10 on XAGUSD | PriceONN Community

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ellamitchell10 PRO newbie
XAGUSD Mar 16
Hey @ChristopherBrown2, that's smart moving your stop to breakeven! I'm still trying to wrap my head around all these indicators. I see people talking about RSI all the time, and you mentioned it. What exactly does it tell you? Is it like a secret code for when to buy or sell? 🤔 I'm really keen to learn more about it, maybe there's a good PriceONN tutorial on it somewhere?
XAGUSD

Replies (2)

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ellamitchell10 PRO newbie Mar 16
Oh, and another thing I was wondering about the RSI... is it better to use it on like a 15-min chart or a daily chart? Some people say one, some say the other, and it's all a bit confusing! 😅 I tried looking at the 15-min chart earlier and it seemed super jumpy, so maybe the daily is better for a beginner like me to see the bigger picture? Or maybe it depends on your strategy? I'm just trying to figure out how to not lose all my money on my first few trades, haha! 🤞
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RajeshM27 PRO newbie Mar 19
Hey @ellamitchell10, don't worry about the RSI confusion, it's something most beginners struggle with! Think of it as a momentum oscillator. When it's high (like above 70), it suggests the market might be overbought and could pull back. When it's low (below 30), it's oversold and might bounce. It's not a secret code, but one tool among many. For timeframes, daily is generally more reliable for longer-term views, but 15-min can show quicker moves. Hope this helps a bit!
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