USD/CHF is so close to the best place where we can open a SHORT entry.
- Price bounced a few times on the trendline.
- RSI OVERSOLD H4 and D1
- Trendline rejection
I love such entries because risk-reward is good.
GOOD LUCK and take entry according to your balance.
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In the last 2 months the USDCHF has created a Bearish Trendline. The price is now getting close to this Trendline and that sugfgests us that the price might be bouncing down again as it did in the past. Combined with RSI in Overbought condition and the MACD that is starting to form a cross, this makes a great Short opportunity.
Amazing Conjunction between Advanced Gartley Pattern, Fibs, ABCD Patern, Major Structure Level, RSI in Overbought condition All compiles in one place - 7120.., It would be interesting, don't you think ? :)
Dear Friends :)
I have the last couple of weeks, warned you again and again about extraordinary high manipulation in the Bitcoin-market (BTC/USD). I received earlier today a link on Twitter to a blog on Steemit, where a guy documents, how a group of whales are discussing, how to manipulate a market.
I therefore decided to spent a lot of time to analyze the last...
Following on from previous posts about hitting the daily RSI overbought area, I am beginning to see a slowdown, that may bounce off the 8300 support without dropping below the RSI Daily 30%. In which case a smaller upward trend will follow along with more sideways before eventually dropping.
IE: the bounce back may take longer than I initially expected....
On the daily chart, it is showing that the market is hitting the daily resistance and the RSI is showing that the market is close to being overbought.
On the 4 hr chart, it shows RSI being overbought and the 1 hr shows it being overbought again so that is confirmation that we will go short on this trade once an entry has been found.
Currently I placed a mini...
From the last post in early April (see related idea). Price did not manage to complete the Harmonic Pattern and it dropped. This time around GBPCAD has been on the rise and has not reached a critical zone, completing the Pattern.
Completed a Bearish Bat Pattern at this current levels. Starting to have a bearish bias.
The H1 RSI has also...
here on EURUSD we have a nice trading setup, since we broke below the most recent low and now we are pulling back to the resistance zone. I've outlined a box (between ex support and actual resistance) and in there i'm looking for a candlestick formation, considering we've already entered an OVERBOUGHT condition.
If you have any question or...
EURUSD is about to form bearish bat pattern on Daily timeframe and if the bat pattern gets complete as we have predicted it will be right place to go short.
We can also note that RSI condition being oversold, so it adds up to our confidence that bearish bat works in our favour.
Being on daily timeframe this trade may take time for completion, so traders who can...
EURUSD is nearing the PRZ of a bearish bat in a significant area of S/R. MACD is also printing divergence in addition to RSI being overbought. A missed weekly pivot sits below price and is confluent with a larger .5 retracement. Entry is placed at the bottom of the PRZ with a SL above 1.13XA and targets at .618CD and the missed weekly pivot.
Confluence in the...
With gold, I was looking for a possibility to be involved in the down trend. Finally the chance come as the price retraces to my expected reversal zone. Later, I found out that there are other levels that can also be a great place to go short.
Here is why I think those levels provide great opportunity.
1. Retracement to Structure
-Price retraces to...