All Yen pairs has been going up for quite some time now. With RSI Divergence in play,
How much longer can it goes up? Is it just coming down for a correction and continue
it's way up again? Or a total reversal? Let me know your thoughts. Thank you.
Happy Thanksgiving =)
I am short on the NZDUSD because of a Gartley formation and RSI going oversold (89)
Entry at 0.73
SL at 0.73802
I will put my sl to breakeven as soon as TP1 is reached. Trading 3 positions in total
1 - If RSI break its resitance early this week, it could confirm an other up movement.
2 - last week price when over fibo 0.382 after bounce at 0.236. Also did cross upper resistance trendline.
3 - this could indicate an other up movement to the meeting point of 50% fibo and the middle of the pitchfork.
4 - If RSI ...
Hi everyone! Looks like we have a bearish gartley pattern on AUDJPY 15min chart.
Our supportive ideas:
- RSI Overbought
- ABCD Pattern
- Gartley pattern
- Resistance level
Trade will be open @78.670 and we have 2 tp levels.
Do not trust me, trust your own strategies.
The RSI can be a great trading tool if used properly. Most Traders use it for an overbought/oversold indicator and that is the worst use of the RSI.
As you can see from the chart, there are multiple short term trade setup in this one hourly chart. Although I am only showing 3 examples there are many more ...
I have placed a limit sell trade at 1.5186 for FX:EURAUD
- Strong resistance down trend on the daily timeframe
- Structure around that level
- RSI on the daily chart moving almost to overbought
Keeping a close eye on USDCAD this morning as price action makes it's way into previous structure resistance. I like to call these areas of the market "Decision Points" because depending on how price action reacts at this level, I'll know whether to look for a long or short opportunity.
If you take a look at the ...
I have measured out a valid Bearish bat and it looks like it can potentially drop down to 1.289 soon. The RSI is also very high. The stop loss will be above the X leg. Stop hunting may occur so it is good to place at least a 70 pip stop loss. Lets see how this plays out :D !
Just noticed this trade guys. I'm not taking it because it's not yet part of my plan but it looks promising so deemed it worthy of a share. The risk reward profile has the potential to be high.
Reasons: Big RSI divergence, Oversold RSI conditions, Doji reversal candle followed by good sized engulfing if current ...
Taking into consideration the longer term view, we notice that prices has seen a reliable support being established near the 94 level. where we can see abcdpattern completed and a possible formation H&S
the US Dollar could see another attempt to the upside 97.50.
Let's see how the market reacts at this levels for ...
The RSI indicating FX:GER30 being overbought so we could see a pullback to 10363. But if it breaks through the resistance area of 10705 then it could go to 10865. I will be in waiting position until we see a breakout.
Strong downtrend indicated from past analysis. major bullish price action have taken indicated by the EMA. Remember these are the 'past' prices, anyway first target is 1.2854 level if the down trend continues for a longer term i think it can touch the 1.278 level for sure. stoch and RSI confirming short overbought ...