Market reversal/pullback during oversold/overbought

Claud Lepathy

Trader
Apr 15, 2022
11
0
17
58
What is the best method to spot an immediate pullback or reversal when an asset is in an oversold/overbought stage, e.g., over/below the 70/30 RSI?
Would appreciate any contributions and ideas.
Thanks
Norbert
 

Claud Lepathy

Trader
Apr 15, 2022
11
0
17
58
So, I am trading on 4hr chart. I go to the 15 Mins and spot reversal candlesticks e.g., Hammer, shooting star, Bearish/Bullish engulfing, Doji. Must also be at important support/resistance, and perhaps price should close below/above a 20EMA could be another signal.
 

fargana

Active Trader
Nov 14, 2022
133
20
29
34
What is the best method to spot an immediate pullback or reversal when an asset is in an oversold/overbought stage, e.g., over/below the 70/30 RSI?
Would appreciate any contributions and ideas.
Thanks
Norbert
Watch when the price reaches some round level like 1.06 or 1.0650, makes some brief breakout and breakdown, retracing back within the candle, (forming pinbar candle), this may indicate the start of reversal