Part report by City AM as for the reason of Tesco SP drop Tesco is closing the last of its digital entertainment services, Blinkbox Books, after failing to find a buyer for the ebook platform. The news sent shares in the supermarket down just over three per cent in afternoon trading. The struggling supermarket said it would close the service by the end of February to focus on its core business. Bookstore Waterstones was said to be interested in taking on the ebook business. The service is shutting down just over two years after it was acquired by Tesco, when the supermarket forked out £4.5m for Mobcast in September 2012. It later renamed it Blinkbox Books.
Trades can be just a few minutes , but as you can see from todays 1minute chart it can be over an hour before movement from overbought to oversold or vice versa --the Dax had dropped , as you know , to 10500 ---while it was still rising from that level all thru' the night and day , there was no real need to sell out and buy in at all on the rsi !! --just let it run and see where it goes , as long as it doesn;t take your original level out !! -- The Dow could have been traded exactly the same from the 17500 level !! Main intra-day supp/res. levels are important to observe as well ---difficult to explain here but you get the drift !!
was still overbought @ anything over 1302/1305 --droped back to 1278 ,i think today again ----- above 1305 will target 1320 and then possible 1400 again !! 1280 was my first drop-back level ,target then 1240/1250 ---but if 1279/1280 keeps holding , then willre-evaluate ---
Do you normally trade off the 4 hourly or another time frame ?? --the 4 hourly is a popular time frame for the wider -out supp/res levels --a bit more relaxed than the 1 minute !! But i have found , with practice, that trading the 1 minute rsi , altho' moving quickly can be very lucrative ( most of the time !! ) -----this afternoons Dow pattern on the 1 minute rsi swung from overbought to oversold and vice versa a number of times ---trade each one as it occurs !! GL.
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