RE:RE:RSISasha.Nik wrote: Lagging indicator, useless without other technical indicators - even then... damn I get so pissed when everyone looks at a bunch of lagging indicators and THINK they figured it out
I agree regarding the RSI especially on it's own. It is useful ONLY when it is in oversold or overbought territory and then it only tells you to be READY for a reversal. It is also true that all indicators are lagging however when used correctly and in conjuction with each other along with price action it can and most often does give the trader an advantage. I am a long time technical trader but I still don't rely 100% on indicators , I factor in price action , momentum , fundamentals (or speculation in cases like N and other LP's) etc. and much more. As the say the more you know......