We've got harmonics, a butterfly pattern and previous structure. Risk reward is good. Entry pretty much at market but patience will probably bring a the price higher (again) so hold on for the retouch of the structure or the butterfly completion (depends on your plan). RSI also nearly at overbought conditions. Stops above 1.25
#USDJPY 4H short idea (ABCD, Harmonics, Fibonacci, RSI Over bought) must wait for the confirmation
Do you own analysis but I hope this give you some useful ideas, don't forget to hit the like button :) Thanks
#USDJPY 4H Butterfly Pattern Short Opportunity
You decide your trade!! good luck!!
Seeing very prominent bullish momentum divergence coming on a double bottom for MDR. All systems are go on the Mac-d signal lines, histogram, and RSI to try for a long position to retest the $3 mark which is at the nearest level of resistance. We saw above average volume each of the last three days which included a small pin bar followed by a price confirmation...
Bearish Divergence formed at the outer Bollinger Band extreme. Divergence shown on RSI, Mac-d signal lines, and histogram. Today put in the first lower high on the histogram along with price creating a reversal candle on above average volume. Looking for a drop back to light support level.
The divergence between RSI and MACD makes this trade dangerous, so aim low.
Similar to AUD/CAD, AUD/CHF is setting up for a short opportunity with the following in view: - inside bar following high test bar in pull back to 50ema - price rejection at resistance at ~0.8210 - price retraced to 0.618 Fibonacci level which coordinates well within proximity of resistance at ~0.8210 - Stochastic and RSI in overbought territory - Stochastic and...
The weekly LOW chart is looking very overbought. We are 11 weeks up on the chart and this week we made a topping tail. I al looking for a retrace into the tail to take a small short position. My exit strategy can be found here: youtu.be Kind regards Kristof De Block Chief Investment Officer Kickhedge
We might be cought in sideways within the red channel for another 20 days. I look at the Willy or MAGNUS™ indicator and compare it to a similar situation we had a couple months ago. The yellow box had some rangebound action in it with a little breakdown in the middle ( just like we had it now ). The question is what will happen after the yellow box? The red box...
Started a position in VXX at 27.60 will add lower getting very over-extended/euphoric in equities on global easing
Goldman Sachs is a short to me here on the daily for a quick short. I'll disclose now that on the Weekly chart I am long based on the giant indented head and shoulders and the smaller head and shoulders that makes up the right shoulder. That is in my IRA however, as I do not purchase stock (writing covered calls) in my trading account simply because it ties up too...
WFC bouncing off trend line yesterday and today again to form a shooting star. There is some hidden bearish momentum divergence seen on the histogram, and the stochastic is coming out of overbought levels without price having broken the previous swing point high. This does look like a bull flag forming, but I am looking for one more move down to retest support...
ACT testing previous resistance, and this time it is coming on hardly any volume in relation to its daily average. The most recent decline had noticeable volume to go with it, and there seems to be nothing behind the ascent to keep price pushing any higher from here. With hanging man patterns - I look for a sell stop 1 penny below the low of the day and go for a...
A Bullish Gartley Pattern is about to form on the 4H/Daily chart. the .786 lines up nicely at support and the RSI confirms the oversold environment. Look for a continuation to retest previous highs.
After this insane rally on Inflation fear, Silver completed this bearish butterfly with RSI well overbought. The PA came close to 21 but retreated which could be a sign of a short opportunity at least to 20.37s heavy structure support. Alternatively, PA might continue up where another shorting opportunity awaits @ 21.75 on a bearish bat and previous structure...
Not much to say about this. RSI overbought