Trying something new.
Achieving targets from RSI and price action.
Let's see how we go.
This is a method taken from John Hayden's "Complete RSI Guide" - 2003.
He uses MDRP (Momentum discrepancy reversal points, pretty much what most people call hidden divergences (i think hidden divergences is wrong, so I'll be referring to these as MDRP Ups and Downs)
Pretty much you find the divergence.
find the candles that form the highs of the RSI peak.
then calculate difference between the 2 closes.
Find the lowest candle close that lies between the the 2 RSI peaks.
Subtract difference from candle low to get a target.
in this case 4869.
Also finding a lot of confluence.
Daily Bullish OB lies in these ranges.
Also previous 3D resistance.
1-1 fib extension of the current move down.
Let's see how it goes
Achieving targets from RSI and price action.
Let's see how we go.
This is a method taken from John Hayden's "Complete RSI Guide" - 2003.
He uses MDRP (Momentum discrepancy reversal points, pretty much what most people call hidden divergences (i think hidden divergences is wrong, so I'll be referring to these as MDRP Ups and Downs)
Pretty much you find the divergence.
find the candles that form the highs of the RSI peak.
then calculate difference between the 2 closes.
Find the lowest candle close that lies between the the 2 RSI peaks.
Subtract difference from candle low to get a target.
in this case 4869.
Also finding a lot of confluence.
Daily Bullish OB lies in these ranges.
Also previous 3D resistance.
1-1 fib extension of the current move down.
Let's see how it goes
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