Hey, traders. Here on the GBPUSD, we have a great example of a CTS type of trade. This market is at a previous HTF level of structure. It has also gone overbought on the RSI on higher time frames. Now, that alone is not enough reason for me personally to enter a trade, but taking it down to an hourly chart, here we have a nice double top. This double top looks...
The index has touched the median line and has been rejected so far - the 2900 area is a tough one to crack.
Money Flow Index is slightly bullish >50, but with the risk of inverting.
Bias at the moment is Neutral-Short, would flip to Short below 2880, even more so on the confirmed break of the 1st descending trendline (2870-2860 - faint red).
There also could be...
The price action is moving within a pennant, Now formed a double bottom on pennant's support.
The MACD has also given a weak bullish signal.
Now there will be a strong breakout soon insha Allah.
The targets are:
Sell between: 0.0002330 to 0.0004075
Atif Akbar (moon333)
The price dropped from the 9K highs to find support at the 61.8% Fibonacci retracement level around $7500.
The directional index lines did cross but on falling momentum. This is a picture of a bearish correction in an overall bullish market, so the support on the price chart should hold and so far it has bounced.
The RSI also dropped, but still remains well...
The price action is moving within a pennant and it has also completed the formation of gartley pennant. At this time the priceline has touched the support of the pennant and also entered in potential reversal zone of gartley pennant. The MACD has also given weak bullish signal. Now the price action will take bullish divergence from here insha Allah.
Sofar XRPBTC is following complete cypher pattern and its dimensions now for the formation of C to D leg a drop upto 0.786 fib retracement of X to C leg is expected, the RSI and stochastic are already exhausted which is also in favor of this expected drop , I have updated the chart accordingly.
Best of luck and regards,
Atif Akbar (Moon333)
1, Flag Pattern
2, Ready to impulse 5th wave of Elliott Wave Theory
3, RSI Divergence
Target is based on Fibonacci Clusters which will determine the potential end of this whole impulse wave
The price action is moving within a triangle and most of the indicators are bearish even up-to 2 weeks chart, specially MACD and chop zone are strong bearish and ichimoku cloud is also reversed to bearish.
We have a very strong support of 100MA just at support of triangle and then 200MA support I am expecting that the price action will take bullish divergence from...
ULTA is clearly overbought at this point in time. Now is certainly not the time to go long on this equity.
1. Overly bullish sentiment
2. RSI on weekly is around 85 - probably the highest in it's history.
3. RSI on daily has been hovering dangerously around 80 for quite some time.
4. There is no clear RSI divergence from price at this time.
After placing a pitchfork it can be clearly seen that the price action is moving within a parallel channel and a double top is formed which has generated powerful bearish trend .
MACD is also strong bearish and RSI is moving down after almost reaching at overbought zone.
We have 200SMA strong support just beneath the channel's support, therefore I am expecting a...
Still learning wave theory, amongst many other tools, but wanted to share what I think may happen in coming months. From what I can see, it seems like this one is ready to go on a final small wave 5, slight correction, and bigger move in July-Sept. Having more Oscillators show an up trend is important, which is why I put a question mark by the Stochastics, paints...
RSI with EMA Signal Created By Request For @motcha1
@motcha1 Requested the RSI with EMA Signal.
A Larry Williams Follower who says it's a Great
Entry Signal when RSI Crosses EMA When VIX
Is Showing A Potential Bottom. Looks Good!!!
***Waiting For The RSI To Cross The EMA I’ve Found To Be A Very Precise Entry Without Getting In Too Early. Thanks...
Was just messing around earlier and decided to check out what a two day chart looks like as well as a 3 day and wow.. Look at my chart and see where the FFT (colorful indicator) turned blue like that n the past and what happened after it started to trend up.. Now look at where we are today and look at how strong that movement up is!!!
Wow i think we might be...