Today I bring you one of my frequently trades stocks CF (CF Inds Holdings). Below is a 5 minute chart with just RSI(14) turned on along with volume:
As you can see, a touch at 70 or 30 provides a clean entry (only one circle long entry would have seen a lower price in the future, the 2nd circle – stop management would have kept you in the trade potentially). The square areas note where RSI failed to touch the 70 or 30 area before reversing – but could still provide a good entry spot depending on your trading style.
This is typically what I am watching when ready for an entry in a stock trade – and using the RSI Buy system. Simple, easy to follow.