One of the stocks that I trade frequently is CF (CF Industries Holdings Inc). Today the stock started off weak and continued to drift down out of the gate. The RSI overshoot of 20 was a good place to begin looking to put on a new long position. The bounce, touch of RSI 60 and reversal were good places to exit the long and go short if desired. A KISS approach.
A look at a current 5 minute chart: