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(Live Technical Analysis) Using The RSI To Trade XRP!

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Free Stuff: https://cryptocoinmastery.com/cryptocurrency-cheat-sheet/ My Private Signal Group: https://cryptocoinmastery.com/cryptosig/ When trading using technical analysis, it is important to use a holistic approach. I personally like using indicators as a tool on top of my market structure analysis. The Relative Strength Index is one of the most popular indicators used because it helps explain when a coin is overbought and oversold. Overbought coins are known to sell off while oversold coins are known to have growth potential. In the video above, I take a look at the popular cryptocurrency Ripple ($XRP). Using the RSI indicator, I was able to pick specific entry points for coins that allowed for easy 5-10% gains. One of the most important parts of using the RSI is being able to do analysis on the calculation itself. I personally draw support and resistance lines on my RSI chart because it gives a great indication of the true turnaround points. The biggest issue with strictly using indicators is that they do not work perfectly. Use the RSI as a tool within your analysis. Do not use it as your analysis. As always, trade smart and trade without emotions! https://cryptocoinmastery.com/video-training-using-rsi-trade-ripple/
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Text Comments (2)
Robert Tower (1 year ago)
Thanks Kyle. I have been using RSI, STOCH and MACD for a little over a week and I just have a few questions. I am mainly on bittrex and I don’t think I fully understand which coins to look for starting out. I know I need to stay in higher volume coins but when to get in is the trouble. Should I look for coins in the 2-7% change and look for RSI patterns? Also as you change the candle time frame the RSI obviously changes. So if the daily one shows 70%+ but the 30 min shows 40% should I be taking into account the daily RSI at all? I would like to eventually get into more trades per day but having a full time job I can’t check it as often so the volatility is tough. Do you recommend doing one trade as a beginner? Thanks for your help.
Ian M (1 year ago)
Thanks so much for this Kyle. Great explanation.

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