$ECA is nearing a setup. I wouldn't quite say that it is the best setup at the moment due to the angle of the "price action break out line I drew.
I think ECA will stick more so to the wedge formation rather than break out now. However we will see. Both are possible.
RSI line is drawn using the "uniform action" method. If you would like to see more of the idea...
We have entry signal on 60m timeframe: LLLC with RSI being overbought.
Nice downside potential of 100+ pips.
If I hit Target1 then I will trail stops to Target2.
Stop Loss is above resistance level of previous outside return.
Back testing RSI top side resistance signals accompanied by:
MACD zero crossing
MACD trend line break
Price action wedge break
And that little lick of increased volume on the move
We will review this in the future.
Actually some decent characteristics coming together for this chart.
RSI has a top side resistance line that it is nearing. Today it closed at its "uniform action" line seen in the green. Look for a break of the green line first. This could be a level 1 entry. A level 2 entry on the top side resistance line break. Obviously we are looking for volume at the...
MACD & RSI both were saying to buy. Yet I locked in gains on my existing position. Should have added maybe. Original target was High 31s. Sold at low 31s instead. With absolutely no sell signals in sight. I have learned my lesson here.
Would have scaled out of position if I could have. But I only had a $1k position so that was not much of an option with trade...
several factors came together to make this a successful swing trade.
I use Stochastics and CCI together to generate buy signals once they both have crossed out of the lower territory. If you would like to see more of this strategy please see my AMD chart I posted back in June
rsi helped bias the trade. could not give signals thou becasue it was bouncing....
Ive called successful trades on XPO three times now. Every time I have failed to enter. Today we look at my most recent alert on XPO and why I failed to enter the trade.
The day i generated this idea is marked on the chart. I generated the Idea originally using the daily chart. When I decide to enter I generally like to look at the smaller time frame to confirm...
We generated two buy signals in the last week using RSI.
Now we are getting another potential buy setup when we look at the RSI. Notice the horizontal line. This is know as the "uniformity method", a term coined by Eric Muathe. If we break above that RSI line we are good to go. Notice that the MACD is also about to cross zero. This is a strong buy signal from...
EURUSD could run into problems at market open to sustain this vicious post-Draghi/Yellen momentum. I suspect that the bulls might be exhausted and give in to a confluence of selling pressure based on short term trend lines. Both daily and 6H RSI suggest a bearish divergence. The initial euphoria about Draghi's moderately hawkish comments about global economic...
The RSI indicator seemed to be overextended based on what the indicator signal showed here.
Sell trigger was activated based on the rule set.
let us know if you have any questions!
NKE is in an uptrend (EMA200 rising on the 1H chart) but there are multiple bearish jeddingen divergences (price vs. momentum), MACD crossed the signal-line and RSI is recovering from overbought levels - all these are indications that the price might fall a bit, before it's rising again.
Profit target is $58.83 (around the weekly pivot)
RSI is overbought.
If I get lower low lower close candle signal I can enter short position at market. Risk/reward must be at least 1:1 and price action has to stay in my kill zone (red box).
We have bearish trend on Higher Timeframe.
Will EURCAD repeat what it has done back in early June? We are seeing a similar pattern forming recently -
1) Price has been inching higher with a loss of strength and momentum;
2) We are seeing a divergence in RSI and price; and
3) Price is entering the minimum expected area of wave 5.
All these factors gave us the expectation that price has a higher...
I don't believe we are even close to the target of OMG.
RSI looks to be crossing across the board is following the elliot pretty good. I will keep an close eye on this but it's not looking to fall down anytime soon.
If you are not in yet, Wait until it hits trend line and go in there. Set tight stop / loss, if trend breaks i think it will be fast down.
There is a strong bearish divergence of price and momentum (see the red line behind the candles: this is my jeddingen divergence indicator that spots those divergences).
And there is also a divergence of price vs. RSI - price is rising while RSI was overbought and is falling now.
Price could fall to the weekly pivot but to be safe, the profit target should be at...
