I've mentioned before how RSI only uses closing price to plot its line. This means you have to wait for price to close before the final value of the RSI is valid.
A trap I've fallen into is using RSI data that isn't complete. Let me give a few examples.
This weekly chart looks promising. Bullish candle and RSI increasing.
A few days later after the weekly candle actually closes, not so much.
Same situation happening yesterday.
And now today.
Obviously the weekly candle has yet to close so we can't draw any conclusions.
Just wanted to point this out since it happens on all time frame.
A trap I've fallen into is using RSI data that isn't complete. Let me give a few examples.
This weekly chart looks promising. Bullish candle and RSI increasing.
A few days later after the weekly candle actually closes, not so much.
Same situation happening yesterday.
And now today.
Obviously the weekly candle has yet to close so we can't draw any conclusions.
Just wanted to point this out since it happens on all time frame.
