The Stochastic RSI indicator (Stoch RSI) is essentially an indicator of an indicator. It is used in technical analysis to provide a stochastic calculation to the RSI indicator. This means that it is a measure of RSI relative to its own high/low range over a user defined period of time. The Stochastic RSI is an oscillator that calculates a value between 0 and 1 which is then plotted as a line. This indicator is primarily used for identifying overbought and oversold conditions.
Could be an impending breakout...could also be a fakeout...watch for bullish volume to confirm. Probability favors a breakout with btc being so bullish lately, however there's not much room to climb up on the 4hr stochrsi...so it could still go either way.
This is a strategy that is based around using the general value of the RSI to determine the trend and then using the Stoch RSI to pick and entry point.
It also uses the RSI to determine a profit taking point or exit point from the trade.
This version doesn't have a stop loss other than the signal to trade the opposing direction. Therefore it is more effective in ...
Looking at the 1day chart you can see that if we were to break upward here we would be forming a higher low on the 1 day chart and that also the inverted head and shoulder pattern is still in play. However the stochrsi on the 1 day chart has plenty of room to dip still. I think we could still be forming a 1 day inverted head and shoulder pattern however if we were ...
If this continues to play out this way there is a good probability this wedge could drop the price back down to the support zone of the 4hr 50ma(in orange). Whether or not the 50ma will maintain support if it breaks own tot hat level is the question. Of course we could always break upward too but I won't be confident of that until the 4hr rsi and stochrsi are low ...
a nice bounce upward off of the 4hr buy/sell line, As I've said int he past once we've hit 5 consecutive candle closes above the buy sell line, it's usually more of a buying opportunity than a selling opportunity. We currently have nine 4 hr candles in a row above the buy/sell line(in orange). This also give the stochrsi and the rsi a chance to cool down to give ...
Just got a nice bull candle to end the day on the 4hr chart that took us above the current bearflag we were in and turned it into an inverted Bart. However, in order for this break to eb confirmed and not just a fakeout we need to see. the new 4 hr candle maintain itself above the 4hr t line(in tan). the potential climb is $7300 with the rsi and stochrsi where ...
We are approaching the support levels
Also, we've seen that the stoch RSI has been in the overbought area, so it would go down, and right now it is going down.
Stoch RSI also indicated bearish divergence.
In the graph, we've seen that a wedge is formed.
This market structure is (probably) going to break at around july.
This is not a financial advice.
Hello again!
Today i would like to share with you an idea on BTCUSD
I found out there are 2 scenarios that are most likely to happen
First, is we follow market structure using the blue line as our support and restistance, which basically means, currently we are sitting at the support level.
By following this blue line as a support, we could expect a breakout of ...
Daily chart shows falling wedge!
Also, is approaching the 38,2% of the fib level!
RSI level is low, also the Stoch RSI!
this is not a financial advice!
Comments and feedbacks are appreciated!
Hello world!
From the daily chart, we see that cardano is at support and also in the 50% fib level.
A wedge is formed there.
RSI is also at around 40, and also Stoch RSI is at oversold.
we could expect it to rise in the next few days.
comments and feedbacks are appreciated!
this is not a financial advice!
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 ...
Descreasing selling volumes on the 4H chart... Stoch RSI oversold... MACD is confirming the bullish divegence trend. In the 2H chart IOTA looks good..same characteristics than the higher time frame, but here we are over the Ichimoku Cloud - Lagging Span (2H) out of the Cloud is a bullish signal. All indicators tells me that a wave 2 is starting in the next ...
BTCUSD : DAILY
Are we seeing a the clouds clear up??
If we fill out all of these scenarios we may see some serious recovery happen over the next month as we approach the tip of this wedge.
I am seeing a Head and Shoulders pattern possibly fill out here pending some ideal conditions:
- Stoch RSI double bounce, cross, and separation due to oversold condition ...
I am continuing my practice, so this shouldn't be advice that is actionable and is more of a thought exercise.
This time around, I'm focusing on BTC pricing as I have roughly half of my holdings in BTC at the moment.
Being a newbie, I did not have any idea about the need for liquidity to help with buying the lows, so I am looking for an opportunity to sell 25% ...
BTC is flatlining the top of the 12hr Stochastic. We could get a few more impulsive hours out of this run before a correction occurs, according to previous 12hr Stoch tops
Multiple indicators show a potential for a reversal or at least a retracement:
- a rally started around February 2016, that broke resistance in December to continue with a bump (see the slope of the purple lines). This could be a typical "Bump and run" pattern
- second top of a double top forming now, could confirm the reversal
- Stochastic RSI 20 days moving ...
