Trading based off of RSI

[Knew 2 4 X]

How save is it to trade off of the RSI indicators of 30 & 70 on a daily chart?

What other indicators should I focus on learning that works well with the RSI?

[ampris2000]

don't know the answer.

use macd 20509 rsi 50

when macd says buy rsi >50 then buy same for sell except rsi < 50

[Knew 2 4 X]

Hmm.. Havent read about macd yet. Only RSI. lol

Guess I know what to read up on next.

Was just checking out the RSI on all the charts.

[ampris2000]

or just for rsi

use rsi 50
rsi 14 when they both say buy or sell then do it.

[Knew 2 4 X]

RSI 14
30 & 70 support resistance
50 Neutral
15 min chart


Right now EUR/USD would be a buy based off of the RSI correct ? I see that it dipped below the 30 now came back over 30 so that should be an indicator to buy correct ?

[ampris2000]

i only glanced at my ta tools but the 30 minute 1 hour says to sell.

on the weekly monthly it looks like things could go either way.

if you wanted to buy wait till the 30 minute says to buy.

you could go ahead sell it if you want but on the monthly chart it's on support on the weekly chart it's saying to sell it's at resistance.

on the daily it looks like the thing could go either way.

be safe trade in the direction of the 30 minute. then the 30 minute will either reverse or keep going become a 1 hour trade then a 4 hour etc.

the 4 hour chart is leaning towards the side of sell but rsi 50 hasn't dropped yet.

[Knew 2 4 X]

Still new so I thank you for your time thus far in helping me. So bare with me with this question
You said "i only glanced at my ta tools but the 30 minute 1 hour says to sell. "

So for the EUR/USD I would be buying? You said Sell but I looked at the 30 min chart its gone past 30 now back above 30 indictating a buy.. no ?

[ampris2000]

there are a couple of indicators that some people use them to interpret as "oversold" or "overbought".
Sometimes it is in these areas that the best trades can be made. I read that a person talking about the stochastic which shows oversold / overbought.

sometimes if the market is trending it can "ride" in an oversold / overbought area for awhile.

using rsi wait till it crosses 50 to buy you'll be ok. both of them / rsi 50 rsi 14.

another thing is i just trade in the "direction" i don't try to trade each clestick or price bar. so if i see it is down overall then i sell ignore all the in between price movements.

zoom out on your chart you'll see it has went down.