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The RSI is a Short-Term Momentum Indicator [Premium Articles]

Posted by Price Action Lab Blog on August 31, 2017

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Market Statistics

Recency Bias Affects Many Traders and Market Analysts

I saw a chart yesterday with an overbought RSI used to make a case against continuation of an uptrend. This is absurd. The RSI is a short-term indicator of momentum and used for overbought/oversold conditions in a Gambler's fallacy sense.

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Hypothetical or simulated performance results have certain inherent limitations. Unlike an actual performance record, simulated performance results do not represent actual trading. Also, since the trades have not actually been executed, the results may have under- or over-compensated for the impact, if any, of certain market factors, such as lack of liquidity. Hypothetical trading results are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown.

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