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TFC Commodity Trading Forum

Re: Trades,RBOB/Artie
In Response To: Re: Trades,RBOB/Artie ()

Nothing is easy Artie. But looking for patterns or indicators that have a consistent track record over a few years tells you a lot. No holy grail out there but a price channel is a great pattern to trade from top to bottom and the RSI 21 is a good heads up for highs and lows along the way regardless. Signals are not exact and often early so there are times you have to exit or accept a drawdown. Markets can still plunge or soar. The RSI 8 is very good for shorter term trading signals on the Daily charts but again you need to check a long term chart to see if a market respects the signals as each market has a beta and volatility level that is different and some markets don't have a track record of respecting RSI signals due to this. But it generally is a good heads up of a time for a change in direction if nothing else using one or both of these indicator settings along with the price pattern.