TRSI Levels

[MrT]

I have read and heard mention of the TRSI being above or below the 60 level a few times; I’m assuming this is some indication of being overbought.

Is this level significant? And should it be affecting which trades we take? Are there other levels that are significant that we should be wary of as OB/OS levels? Or are we just concerned primarily with the lines crossing as described in "Trading the Trend"?

Many thanks

Mike

[FibMaster]

Hello Mike,

The significance is that you will often see support and resistance near 40 and 60, though not really overbought or oversold.

[MrT]

Thanks for the explanation Neal ;)