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Old 06-15-2007, 05:46 PM
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RSI is often used to stay with the trend. You can place RSI indicator on the daily chart with default settings, you should also add a level 50 line to the indicator. So if the RSI is above 50 on the daily, it indicates that Bulls are in control, therefore an uptrend. So if you want to stay with the trend, you should take only long positions on shorter Time Frames such as the M5,M15 and M30. Its the other way round for a downtrend.

I also use trendlines and draw channels. These methods are simple but very effective. Another trend indicator can be a 200 EMA, if price above it, means uptrend, the downtrend if below it. So using a mix of these indicators will often give u better results rather than sticking to one.

Hope that helps
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