@yoga69 on EURUSD | PriceONN Community
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I'm relatively new to swing trading, and I'm trying to incorporate the RSI indicator into my EURUSD analysis. Currently, the RSI(14) is around 56.3, which seems neutral. I'm curious, what RSI levels do more experienced traders typically look for to confirm overbought or oversold conditions on the daily chart for EURUSD? Any insights on how to best use RSI in conjunction with other indicators would be greatly appreciated.
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@yoga69 I'm also learning about RSI. From what I've read, some traders consider RSI below 30 as oversold and above 70 as overbought, but it depends on the market conditions. I think it's important to look at the overall trend too. If EURUSD is in a strong downtrend, RSI might stay oversold for a while. Have you backtested different RSI levels to see what works best for your strategy? Maybe try different timeframes as well? I'm still trying to figure out what works best myself tbh.
@yoga69 RSI can be tricky. 🤷♀️ I usually look for divergence between price and RSI to confirm overbought/oversold. Don't rely on it alone, combine with other indicators. 😉