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so your saying you don't approve of my structure..you think it's OK to rule out 15 min breakouts (with a daily RSI) but not to rule them in??
----- Original Message -----
From: "Alex Matulich" <alex@xxxxxxxxxxxxxx>
To: "Chris Evans" <evanscje@xxxxxxxxxxxxx>
Sent: Monday, October 06, 2003 11:49 AM
Subject: Re: Using an EOD indicator in an intra-day chart
> >so it's really a mess to simply say : If dailly RSI is overbought
> >then sell a 15 minute bar breakoutDn ??
>
> I wouldn't even say that's valid. If daily RSI is overbought,
> then price might turn down within the next few days. It certainly
> doesn't say anything about the next few minutes. You might get by
> with using it to bias your trades, for example generate your signals
> on 15 minute bars but use the EOD RSI to ignore signals in one
> direction or another.
>
> -Alex
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