Update:
gbpaud has shown no respect for the PRZ. I am abandoning this trade. Looking to get out at my entry point.
GBP has been on a tear vs the AUD. This is the first RSI BAMM set up we have had on the weekly chart in years. First there is a complex RSI formation back in January 2014, 50 RSI was breached, and now we are back above 70. There is also a beautiful...
AFTER A BREAK OF THE TRIANGLE/DOWNTREND, GBP/JPY APPEARS TO BE BULLISH AND OFFERS UP A DECENT RISK TO REWARD TRADE.
ON THE 4H CHART THE 150/16 DAY MA'S HAVE TURNED AWAY FROM EACH OTHER FOR THE TIME BEING, INDICATING A POTENTIAL CONTINUATION OF THE LONG TERM UPTREND.
TARGETS CAN BE SET AT 193.90's, A BREAK OF THIS LEVEL COULD LEAD TO AN EXTENSION OF 194.35, THEN...
Take a look back to check out what happens when RSI 2 is below 2.5, we have movement or a close below the lower BBand, and for an added bonus, when traditional RSI 14 is in the 40 or below range.
The key to this setup is to not get greedy. Once that mid BBand line is crossed, it's time to tighten the stops. Let it ride. If you're a little cautious, sell when...
Week of 4th of June 2012 signals the dawn of uptrend with RSI making a new high at the level which will prove to play in important level.
Week of 13th of August brought first correction of uptrend to about 0.764 from 17$.
Week of 8th of April 2013 brought the next top of approx. 250$ before a 14 weeks correction to again cca. 0.764.
Week of 25th of November...
A DAILY CLOSE ABOVE RANGE RESISTANCE INDICATES POTENTIAL FURTHER UPSIDE, A CLEAR BREAKOUT OF LONG TERM RANGE EXPOSES 1.2520's
THE 150 DAY MA THAT WAS PREVIOUS RESISTANCE ON 4H CHART HAS BEEN BROKEN, A POTENTIAL MA CROSSOVER TO THE UPSIDE CANNOT BE RULED OUT EITHER - ADDING TO FURTHER CONFIRMATION OF UPSIDE POTENTIAL
A RETEST OF PREVIOUS RESISTANCE TURNED SUPPORT...
Price broke out of the previous range / consolidation and is bouncing off the broken resistance level that turned into support.
Next we are heading to a retest of the 270 resistance area.
Volume confirms the breakout and MAGNUS Cycles indicator gave a buy signal, too.
RSI is hot but not yet overbought, allowing for more upside action to unfold.
A break of the...
EUR/JPY finding resistance at 139.50's, price action on 1H + 4H looking indecisive/bearish.
Long term trend line break adds further confirmation of short bias, short term down trend has formed on 1H time frame.
Three tests of structure resistance on 1H time frame also indicates lack of upward momentum, short term bullishness is only abouve 139.50's.
Looking...
From the previous analysis, the wedge pattern has become completely invalidate. Replacing the wedge with the price channel gives a better perspective now.
1. Price is currently above the support/resistance level at 11250 as the leg up came on a modest higher low in RSi divergence.
2. While it is tempting to go long targeting 11650, waiting for another dip (for...
Weekly and daily paint a bearish picture for the Swiss franc overall.
It's interesting to see how well time at mode has mapped the different moves, timing or predicting price and time levels.
Next week after the close a weekly uptrend signal will have expired, but the interesting part is that the target has been exceeded and an interesting high might have been...
Putting my recent RSI training to use, I took a long position.
www.youtube.com
Relative Strength Index Explained with examples in Bitcoin Trading. Identifying RSI Divergence against Bitcoin Price Charts.
Sorry for being quiet this week trading view but I've been running things on the road. Also the markets have been pretty quiet this week so there just hasn't been a lot to share. Today seems to be a little bit better and I wanted to bring a potential buying opportunity on AUDUSD to your attention.
I'm already long this pair from earlier in the week. My position...
Long term I am neutral on this pair, however the recent EUR pull back brings about great opportunity to buy on the dip as it seems to be respecting the technical levels.
The trade setup is explained on the chart, looking for a short term trade on this - however I feel there is further upside potentially.
Many thanks
UPDATE FROM YESTERDAYS TRADE:
After the sell off this morning EUR/JPY is re testing its 4h trend line which came into play yesterday, fresh lows of 133.90 but failure to close at these levels show potential further downside to my target of 133.50.
RSI is still holding its downwards trend, plus Ichimoku shows that we've had a cloud crossover as well as a TK...
Wolfe Wave Characteristics:
The Symmetry of Waves 1 to 2 is the same as waves 3 to 4
If wave 2 is sharp then it would find support at wave 2 of 1, and if it was flat then it would find support at the Wave 4 of 5 if 5 was extended, or at the main wave 4 itself if wave 5 was not extended then it would find support at main wave 4 of the same degree
The Waves 3...
After gapping up on good news NFLX put in a shooting star on increased volume. The MACD cross over and inability to put in a new high despite consolidating inside the Bollinger Bands could be a sign that all the buyers are in and there is a possible pullback coming. A break of the upper resistance line would be a no trade for me due to the previous...
I got asked the other day about Bitcoin and what I thought about recent price action. When looking at the timeframe all that comes to mind is consolidation and bearish. As we've seen on the AUDCAD over the past few weeks (as it's nailed 4 straight cyphers) consolidation breeds patterns.
I see 2 potential patterns here on BTCUSD the first being a bearish bat...
A rough few days for the investors with long positions. Today AMD is finding support on a historical support level (marked with the rectangles ~$2.25).
I won't mark this chart "long", but I'll be watching AMD to break through the 2.65 resistance before considering a long position personally.
I've circled the most recent RSI entrances into the <30 oversold...
