Is the RSI Indicator Enough for Trading?

Can RSI and other technical indicators be relied on for entering and exiting trades?

At first, I relied on RSI, and it gave a correct entry zone on the chart in front of you 🎯

Did you answer??

— Answer before you continue the thread

Then come take a look at the thread and see my view of RSI 🙂👇

First thing, I don’t understand how people who rely on these technical indicators think

I watch videos on YouTube

• 1️⃣- It explains a simple indicator like RSI or MACD

• 2️⃣- It enters a trade based on it

• 3️⃣- At the end of the video, it shows you the profits it achieved

RSI is the most important and most famous technical indicator; supposedly when it reaches oversold, the price should rise, so let’s apply that to the image above

Here it reached oversold more than once 😑

In numbers 1, 2, and 3, the price continued to drop with very strong momentum 🥲

Even at number 4, when the price went up.. it only went up to take liquidity and then bounced from the OB (as shown in the drawing) and continued dropping normally

At numbers 5 and 6, the price also continued dropping completely normally 🔻📉

Even though YouTube assured me I’m supposed to buy immediately as soon as it reaches oversold in a “master trading in 15 seconds” video 🤣

This video is part of a series where I explain trading for beginners; I’ll leave its link at the end of the thread, and I was talking about technical indicators

Simply put, price leads the indicator’s movement

Indicators lag behind price and future prices cannot be predicted through them

But, but you can benefit from them as a supporting factor that confirms your entry into the trade

Watch the video below and understand more