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Rsioversold

How to trade intraday pullbackHello friends, Market finally picked a direction and it looks like it's gonna continue downtrend. Many novice traders are long biased and they find it very difficult to trade in down-trending market. Today, I am going to share a simple strategy for making quick gains by trading pullback in a downtrend. Below is a chart of NASDAQ:AMZN in daily timeframe. You can see that price is in a downtrend. Below is 5 minutes timeframe chart of NASDAQ:AMZN . You can see that above chart fulfills all the rules mentioned below. For this trade, Risk to Reward ratio is 1:3. Checklist - 1. Price is making LL while RSI is making HL - Bullish Divergence(highlighted in the chart) 2. RSI is below 30 - Price is oversold 3. Price is showing signs of reversal - Long lower wick candle(highlighted in the chart) 4. Above three confluences occurs during the first 1.5 hours of market open before market goes into mid-day chop 5. Risk to Reward ratio is at least 1:2 (shown in the chart) Entry - 1. Enter at the next candle open after reversal confirmation Exit - 1. Set Stop-loss below the recent low 2. Set Target at the first resistance
NASDAQ:AMZNEducation
by PriceActionTrader1
1
$1750 is the level to watchETH has been looking particularly strong throughout this relief rally, but I'm expecting resistance around $1750-$1800. This is a strong historic support/resistance level, and we can expect short pressure to pick up and long pressure to drop off substantially here. So a break above this level would tell me the bulls are back firmly in control. It's also worth noting that we saw the weekly RSI dip below 30 at the recent local bottom ($880). The last time that happened was at the 2018 bear market bottom. I think the price action around $1750 will provide a lot of insight as to whether $880 is our current bear market bottom, or just another local bottom of a continuing bear market.
BITSTAMP:ETHUSD
by reees
Confluence Test for this Week's CandleCOINBASE:BTCUSD Right now, we are currently testing a $17,000 - $19,000 weekly candle support on $BTCUSD, while the 14 week RSI oscillator is oversold (<30). I'm hoping that by the close of the weekly candle, the RSI and candle for this week will either: Ex1. Close above the $17-19K support zone AND above 30 RSI or, Ex2. Close below the $17-19K Support zone AND below 30 RSI. This will give us confluence in determining if we continue to go to lower in price (Ex 2.) or HOLD $17-19K as weekly support.( Ex 1.) If the RSI and price candle do not close both above OR both below their respective levels, it is still ambiguous if this $17-19K weekly level will act as support or transition to resistance. I will be on the lookout for this coming Sunday night weekly candle close. ***DISCLAIMER: NOT INVESTMENT ADVICE***
COINBASE:BTCUSD
by jdm69
1
GBPUSD-Weekly Market Analysis-Jun22,Wk2If you are looking to ride on the wave on the daily chart, either the late entry of the ABCD Pattern or engage the trade based on Potential Head and Shoulders setup, your chance is here. When the market opens wait for candlestick confirmation at 1.2369, the Bullish Deep Gartley Pattern. This is a counter-trend trade move and might inverse the Bearish Shark Pattern setup that you are in. It is important for those who have engaged the shark pattern to shift stop-loss to entry. You can now see that it is important to follow a coach who shares with you analysis before it happens and it is important to like that analysis that you are learning from, and that is because when you've related ideas, you will receive the notification and learn from it.
Long
by RaynLim
BTC on Track for its 8th Consecutive Weekly Loss Are We OversoldBitcoin (BTC) is on track to record losses for the eighth week in a row, the longest streak of losses in history. Before this streak, the previous biggest consecutive weekly losses were recorded in December 2014, when Bitcoin was worth just a few hundred USD and was down for five weeks in a row. Is Bitcoin Oversold? Despite the severe sell-off, Bitcoin is still not oversold, according to the most popular momentum oscillators. Bitcoin’s current weekly RSI reading of 33.67 shows that we aren’t oversold just yet. The RSI oscillator would need to fall below 30, or even 20, to be considered oversold. Meanwhile, the stochastic oscillator has entered oversold readings, but unlike the RSI, it has the tendency to stay in oversold readings longer, as it is more volatile and quick to react. By comparison, in 2014, after the record weekly losses streak, Bitcoin consolidated for 31 weeks before it resumed an upward trajectory. Looking forward: The Bitcoin sell-off can slow down in the near future, and we might see a temporary bottom around the $30,000 considerable round number. However, in the long-term, the correction can extend all the way to $20,000, which is a massive support level since it is the all-time high reached in the 2017 bull run. A fall to $20,000 would also allow the RSI oscillator to reach oversold readings.
BINANCE:BTCUSD
by cryptohopper
GBPJPY - Bullish Deep GartleyWait for it... The Range Bar chart has given me to short this pair at 156.09 and has exited at 155.36, a total of 73pips which translates to 639.75USD/lot traded. If I were you, I will not immediately engage the Bullish Deep Gartley Pattern, even when it is a trend trading setup formed within the Buy Zone or known as the Demand Zone. With such a strong bearish movement, it is a great idea to wait for the candlestick to pause and reversed. It is ok to miss a trade, but what's not ok is to return the profit back to the market.
Long
by RaynLim
GBPUSD-Weekly Market Analysis-Jan22,Wk3Do you remember that last week, I've shared with you the Gartley Pattern on GBPUSD is not going to bring us profit? That's possible if you understand how to read the candle movement and be familiar with Harmonic Patterns and its hidden move. We have a potential Bullish Bat the forms within the Buy Zone of the GBPUSD. I'll be waiting for the candle confirmation to execute the trade. Check out last week analysis within the related ideas in TradingView.
Long
by RaynLim
2
Paypal Bullish Shark Pattern at SupportWe might see a nice bounce from Paypal within the coming weeks but i don't expect new ATHs i expect a lower low then for it to come back down to make one final lower lower later on but for now i am quite decently Bullish as the MACD is showing Bullish Divergence, The RSI is Oversold, The price is at Old Resistance, and the Volume looks somewhat like a Selling Climax so lets atleast get a correction back up to the $200s then we can talk lower lows if it shows weakness there later.
NASDAQ:PYPLLong
by RizeSenpai
9