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Shorting Gold (XAU/USD) on the daily timeframeGold (XAU/USD) has shown repeated weakness and is once again offering a short entry. A break below and a retest of 1240 forming a high test yesterday bodes well for further price decline. The reward potential is a hefty 5:1 on the way down. Although a set up is still visible, there are, however, a few words of warning. Beware of Stochastic and RSI divergence, which if price adheres to, Gold (XAU/USD) could pull back into the moving averages and then give new short opportunities with an even lumpier reward:risk. entry - below today's inside bar stop - above yesterday's high test target - 1179
FX:XAUUSDShort
by amanpaulbhogal
QNTUSDT - Short - Broadening WedgeQNT is currently forming an ascending broadening wedge pattern on daily timeframe. An ascending broadening wedge is a bearish reversal chart pattern. Where the upper line is the resistance line and the lower line is the support line. As we can see in the chart that it´s moves increase with higher magnitudes. This pattern should be traded when the price breaks out of the support line. Looking at the pattern combined with the three indicators we can conclude it´s currently in an overbought condition. So it´s likely for the price to retrace. The three indicators are Bollinger Bands, RSI 14 and Stochastic. In our opinion it´s more likely for the price to retrace and pump once more before it breaks out of the support line. So for now Target 1 in prioritized. Before targeting the other two targets we have to wait what happens after Target 1! All the details are shown on the chart. Goodluck!
Short
by vf_investment
9
Combining Stochastic And Bollinger Bands To Trade BitcoinChart 2020 is the halving’s year and the crypto community is putting its expectations on Bitcoin as the cryptocurrency that will lead the rest of the market to new historical highs. Bitcoin is currently undertaking a consolidation process after the bull run that it had from April to June 2019. Every trader is formulating the same question: When is this correction going to end? Pinpointing when this turning point is going to take place can be crucial and very profitable for your crypto portfolio. Technical analysis is highly useful to find when this event can happen. Designing your automated strategy In this week’s automated strategy we have selected two strategies, the Bollinger Bands and Stochastic. This combination of a volatility and momentum indicator is intended to spot the moment where the price has decreased sharply and is likely to go back up. By selecting two indicators, it’s more likely that potential negative trades will not be traded. As can be seen in the Bitcoin chart, the strategy has only opened positions once both indicators were signaling buy . In this case, the strategy has been detecting successfully all the quick falls of the price to open a position at a price level where BTC is more likely to increase. You can also select the same indicators to sell the previously opened positions. In this way, once both indicators signal sell, it will close the position (unless you take profit or trailing stop-loss would have been hit)
BITFINEX:BTCUSD
by cryptohopper
☆ BTC / USD — Bitcoin Trading ☆Hello on the regular Bitcoin Update. Just before Monday btc price near resistance and in the wedge pattern inside Symmetrical Triangle. I am looking for good long entry here at breakout from triangle $9850, or at support of the triangle near $9000—$9200 On the chart you may notice Stochastic RSI and it's divergences inside Triangle Pattern and Wedges. So for taking profits I am looking at $10000 zone and above. As always I am calculating my risk and know what I can lose in each trade. Please follow your own money and risk management when considering using my trading ideas. Stay tuned, this is Artem Crypto
BITSTAMP:BTCUSD
by ArtemFuturesTrading
27
ETHUSD - Stoch RSI - Ride the TrendI have not tried this for many other pairs but this is working for me with ETHUSD on the 15 min chart. After looking at several indicators, entering in at the wrong times, being in long when I should be in a short or out, the frustration led me to really try to find where the best low to buy into would be, I discovered that if I set the Stoch RSI indicator with the following values and simply buy when the bottom K crosses D and ride the trend to the top and sell (short) when K crossed D at the top, it makes for a nice profit most of the time. Nothing is 100% foolproof when using one indicator so I recommend pairing it with a 1 or more you are familiar with. Pair: ETHUSD on Kraken (Can short in the US on that exchange currently) Many others are disabling shorting if you reside in the US. Chart: 15 Min Chart Indicator: Stoch RSI in Trading View K 85 D 14 RSI Length 19 Stochastic 125 If you buy in too far away from the crossing, you will be caught in the volatility from my experience. Paper Trade to feel comfortable and so far, when the whale hits, I am in the right direction. I am no financial adviser but simply showing and perhaps saving someone hours of analysis. Note: On a large dump or large move up, this will not buy in outside the Bollinger Bands, but enter in a less volatile and hopefully let you enter without instantly being in a negative. Good luck...
KRAKEN:ETHUSD
by JustinSchapansky
Bitcoin sitting at supportThese days have been a bloodbath in the cryptocurrency markets. These are the key support levels you could use to predict when it will reverse. RSI and Stochastic RSI for 1 Day and 4 Hours time frame have reached oversold. Should we fall bellow these keys supports, expect it to free fall to the 4000 dollars range, however it probably would not last long as people would probably stop mining, reduces the supply of bitcoin, and increase its price again. Good luck to you all!
BITFINEX:BTCUSD
by evntdra
BTC - StochasticRSI has flat-lined - The last time it did.....I made a peculiar observation while looking at the charts this evening. Everybody looks at the price for waves, support / resistance, fibs, etc. etc. etc. But while looking at the daily Stochastic RSI Indicator I noticed that it has basically flat-lined. That seemed odd so I went back as far as I could to find something similar. I could only find one similar occurrence. This is the chart. Make of it what you will. Disclaimer. I've been long since about $6,185, so yeah, I'm looking for this bounce to continue. :)
COINBASE:BTCUSDLong
by BitcoinBearSlayer
2
BTC: Bear Flag, 200EMA and RSI says DOWN!Been a while since the last update, I've been quite busy although I kept reading stuff here and there. BTC is developing a bear flag BELOW the 200 days EMA. This mainly means we are going down! Stochastic RSI shows a fast invesrion from the overbought area down to zero. Personally I would set a target price around 7200, close to the strong trailing support level highlighted in "pink". As a side note we always need to take into consideration that this market is highly manipulated and almost anything can happen. I'm waiting for a breakout towards the bottom of the bear flag as a trend confirmation. ***As usual, this is not a trading advice.. It is merely my idea for educational and informational purposes only***
BITFINEX:BTCUSDShort
by SteveEnnom