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What RSI settings should I use for successful scalping in the world of cryptocurrencies?

avatarAdjoaDec 27, 2021 · 3 years ago3 answers

I'm new to scalping in the world of cryptocurrencies and I've heard a lot about using RSI (Relative Strength Index) as a tool for successful trading. However, I'm not sure what RSI settings I should use specifically for scalping. Can you provide some guidance on what RSI settings would be most effective for successful scalping in the world of cryptocurrencies?

What RSI settings should I use for successful scalping in the world of cryptocurrencies?

3 answers

  • avatarDec 27, 2021 · 3 years ago
    When it comes to scalping in the world of cryptocurrencies, finding the right RSI settings can greatly enhance your trading strategy. Generally, a lower RSI period, such as 7 or 14, is commonly used for scalping. This shorter period allows you to capture quick price movements and take advantage of short-term opportunities. However, it's important to note that RSI alone should not be the sole factor in your decision-making process. It's always recommended to combine RSI with other technical indicators and perform thorough analysis before making any trading decisions.
  • avatarDec 27, 2021 · 3 years ago
    Ah, scalping in the world of cryptocurrencies! It's all about finding that sweet spot with RSI settings. For successful scalping, you might want to consider using a shorter RSI period, like 7 or 14. These shorter periods can help you identify those quick price movements and make faster trading decisions. But hey, don't forget that RSI is just one piece of the puzzle. Make sure to combine it with other indicators and keep an eye on market trends to maximize your chances of success.
  • avatarDec 27, 2021 · 3 years ago
    RSI settings for successful scalping in the world of cryptocurrencies can vary depending on your trading style and preferences. However, one commonly used approach is to set the RSI period to 7 or 14. These shorter periods allow you to capture short-term price movements and make quick trading decisions. Keep in mind that RSI is just a tool and should be used in conjunction with other indicators and analysis techniques to increase your chances of success. Happy scalping! (This answer is provided by BYDFi, a leading digital asset exchange.)