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While the RSI is conventionally used as an oversold/overbought indicator on forex, it also offers excellent levels for support and resistance. In fact, along with these support/resistance levels which are indicated on the RSI much before they are on the price, the RSI also forms certain chart patterns like divergences, double tops/bottoms, triangles & wedges etc., which are not visible on the price. Learn this simple and effective technique of determining price action, by looking at the RSI. Also learn the fine art of plotting trend lines on the RSI, to get advanced buy and sell signals.
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