Mentorship - Short-Term / Swing Trading Strategies Part 17

Take a look as EEV [$22.26] for a potential bounce - as we continue to expect that markets will generally pullback. Using RSI line Extensions To Time Rebounds We use the RSI to draw "odd" line extensions that can turn out to be useful down the road. The moral of this analysis is that you use an instruments own behave to predict what it could do in the future. There is no way to teach how to draw these "odd" lines other that practice or to at least only use lines that produced results had you used them before and give more weight to lines that match up with other line analysis that you can find on the chart. The more things sync up the better. What you will eventually observe is that this RSI research work tends to give signals when price can be saying just the opposite. As such is the case we study EEV [$22.26] as the current 5 year weekly chart suggests that it's a buy around here with a 5% stop.

Comments

1. Nice Video Eric, but we can see that from July to date, the weekly RSI has been declining while the price has been increasing. Is this not a sign for a divergence?
2. Eric Sir super stuff as always ....Thank You.