Originally Posted by
;
Hi ,
first I hope you do not mind if I post on your forums because I'm pretty new and I must be in the QA forums...
moment...I have been looking at charts and price action for two months and building on a system that I have in mind. . .so much I have tested it backwards, and last week using a drama ccount. The purpose is try to sell when it is overbought, and buy when oversold, based on a 9 RSI, 15 mins chart.
Today I have noticed that whenever and overbought or oversold condition begins, no matter how much in overbought / oversold it can go ( oversold dipped this friday for more than 40 pips on EUR/USD ) at the end it always comes out at least at the highest point of this candle it moved into. ( btw: it seems it doesn't use for USD/YPJ).
Aside from me being unable to wait for hours for the inversion of trend, is it a statement that may have some fundation? Is it true that it always comes straight out?
Thx