My idea is to link highs and lows in the market with RSI trend lines and key dates. Looking back over the data all the way back to the early 1900's it seems to show that highs and lows can be fairly close together in time but breaks of key trend lines and channels or wedges / triangles are required. Therefore until we break the current trend in RSI I do not see any reason to become bullish yet. We either go lower or higher or stay in a channel. My understanding is that the textbook thing to do is to "trade the channel" my idea is to trade the breakout from the channel. Currently we are in a downtrending wedge.
