Putting my recent RSI training to use, I took a long position.
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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...
Market below the 55 day. Trend-line break with a solid price movement downwards. Back test of 1192 possible. Possible to short on either price reversal on back test or follow through selling below the 4/22 low. Stop on initial short entry could be placed above 1203. Daily MACD cross supports position as well as RSI movement. Geo-political risk could cause...
After a new low at the end of bear cycle, market corrects in 2 waves to 61.8% from the previous bearish cycle. The bearish cycle in this chart begins after 3 requirements are fullfilled:
1. Break the bullish trendline of the correction from previous bear cycle
2. Break down the last month's daily EMA so that it becomes resistance
3. RSI breaks solidly the 40...
Hi Traders,
I just closed all my long term longs on $GER30 as I think we are in a great place to reverse or correct for a long time. As we can see on the graphs, waves with equal legs and we just completed 5 waves up. Also, RSI at trend line resistance. If I see anything bearish on 4hr, I might try to short in few days.
Thanks!
Thiago...
Hey Guys,
Simple clear Chart for you Today.
EUR/NZD is moving nicely withing a few trendlines.
- 200 MA is coming in to act as nice Resistance.
- In Additon we are approaching Structure , check left RED BOX
- 0.618 Fibonacci Retracement waiting again
IF you want extra confirmation
wait for the Trendline to be broken.
IF you want even more confirmation,...
We have a clearly bearish RSI, who needs a top. So we could probably have a little rebound. The pair stays under pressure by RSI, we may have a really nice fight that could break the main bull trend.
RSI 7, 14, 50 MA Ribbon
In chart, representing RSI 7 (fast) RSI 14 Normal default and RSI 50 (slow) as a single indicator. With each RSI there is a set of Moving Averages creating a ribbon.
Colors for RSI Ribbon
It uses only four standard colors
Maroon : Trend is down
Green : Trend reversal warning
Lime : Trend is up
Red: Trend reversal...
These are some of the indicators from my two packages available on TradingView appstore.
This chart has S/R levels, derived from an oscillator, overlaid on price action for easy identification of clusters and turning points. It also marks bars (up / down triangles above/below) with reducing momentum to show potential upcoming bounce levels. This S/R level is...
This is a potential bearish butterfly pattern on USDJPY as price is in consolidation on the Daily Chart. Of course this trade wouldn't be of any interest to me if there was no resistance zone. This is because since trading is a business of probabilities, I want to know where the sellers are so I can get involved. Now a list of what this trade has to offer in...
Recently with Tesla, Positive news has been ignored and negative news has been exaggerated. This irrational pessimism, combined with high short interest might indicate a rapid momentum upwards swing is in order. This is especially true if Tesla chooses to announce their CPO program or their stationary storage product soon.
