Disclaimer - Monday, page-4

Hey jako, Mfx and all..

Re RSI look for a pivot high above 70 then retrace followed by next pivot high below 70 to signal a change in upward momentum

But given many dont use the standard period, or say MFx uses what i understand to be a composite type RSI, any level can be used, not just 70

Also, simply a lower high will do but not as powerful as many traders will specifically spot the classic bearish swing fail at 70 using the 14 period and the herd will stampede accordingly [that old TA adage - something tends to play out often simply because everyone is looking for it / recognises it]

PS - hanging for red's weekly

PIOTR