A lot of overbought

Over bought is buying 15 Turkeys cause they on sale and the frig holds two. But in marketplace no such definition to me, you could have started selling Bitcoin when first time hit 5k, would you kept selling not hedged to 20k? People want something bad enough, sky is limit. At least going down has a floor.
 
If your indicator shows market is overbought,
then ?!?!? Two possibilities :


market can continue to be even more overbought,
or market will become less overbought.

So no point agreeing or disagreeing.
 
i don't believe in overbrought or oversold. market is gonna do what it wanna do. your strategy should tell you when to buy/sell. if you don't have one. then you are basing it on your emotion and your gut feel. and we all know how that will end.
 
vincentnyc said:
i don't believe in overbrought or oversold. market is gonna do what it wanna do. your strategy should tell you when to buy/sell. if you don't have one. then you are basing it on your emotion and your gut feel. and we all know how that will end.
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you are right mister.

Those 'experts' like to teach about overbrought oversold indicators.
It works in theory, but not in real situation.
 
The market has the wind at its back this time of year, newer traders may not be aware of the very real & strong seasonal influence. When the general public started getting into TA overbought became a good buy signal and oversold a great time to start shorting.
 
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