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Strategies & Market Trends : ajtj's Post-Lobotomy Market Charts and Thoughts -- Ignore unavailable to you. Want to Upgrade?

To: catou1 who wrote (82740)	11/10/2023 2:44:19 PM
From: Sun Tzu	1 Recommendation Recommended By skier31 Read Replies (2) \| Respond to of 97493

Cat, there are no bearish patterns that I can see. Yes, the market is overbought, but that is always the case in an uptrend. So I'd like you to look at my 2nd indicator below. That is a countertrend RSI. It crossed the midpoint where I have the marker, which among other things is why I knew a bear trap is coming up. BUT, it has no confirmation form the regular RSI (the top indicator). Which means it was just a trap and not a trend change. Importantly, it is now oversold and on the way up. But of course, the market can do anything at any time. It's just about stacking the odds in your favor.