DocWonmug

DocWonmug Updated 

* Break below RSI trendline * Tweezer top at HH / triple test; above BB => SL 20 pips above HH => Set SL to BE at 1.73539 => Final TP @ 1.72390, RtR = 1.5

DocWonmug Updated 

*Probable RSI break above trendline *Solid three-touch trendline since 6 May 2019, with probably HL on 22 Aug => Looking for a break above the red SR from 10 Dec 2018 Final target @0.92495, with a probable first TP at about 0.91644

DocWonmug

4H DT since 25 March 2019. 96% regression fit (not shown) Possible LL with nice tweezer bottom. Good RSI trendline with pending cross. Marginal PA trendline, but concurrent with the RSI from the last LH on 15 August 2019. A cross of the PA will also cross the 21 EMA. A subsequent cross of the 78 EMA would probably indicate an ongoing retracement, maybe to a retest...

DocWonmug Updated 

* PA continues to move down from probable HH, with 3-touch trendline. * RSI reflecting down from trendline * W%R break and close 50. => SL above PA trendline => Set SL to BE at 1.80171 => TP @ solid SR (recent LH) = RtR 1.8

DocWonmug Updated 

Nice double top shaping up at the possible LH in the DT since 5 May 2019. I’ll be looking for break and close below the RSI trendline and the PA trendline.

DocWonmug

Anybody please comment: We are forming a nice double bottom that is below a long-time low from 2016. We are in a 4H DT since 18 July 2019 and a 1W DT since 22 Jan 2018. I think it is time to look for a retracement upwards. But I am not seeing a potential trigger for the trade – the RSI and PA trend crosses are ancient history. Does anybody have any suggestions...

DocWonmug Updated 

No clear trends that I can see here. But the firm resistance level shown in solid blue starting 24 June 2019 looks like it is providing support as shown. I will be looking for a break in the RSI and PA trendlines in support of a long trade. Also note the support @ 26 Mar 2018 and 3 Jan 2019. If this support remains intact, this also indicates a long trade.

DocWonmug Updated 

A parallel channel has formed on the 4H USDCHF, but it is in conflict with the recent flat-bottomed bear triangle. If we get a break and close above the top of the triangle with a break of the RSI trendline, I will look for a long trade with a TP near the centerline of the channel. I’m not real thrilled about the SL, but it does give a 1:1 RtR.

DocWonmug

8/7/19 6:59 am: * RSI break above trendline * Tweezer bottom at likely LL (with pin bar on 1H) * Previous retracement went to 61.8 Fib of impulse. => Need RSI close above trendline => Need PA break and close above trendline => First price target either 38.2 or 50.0 Fib pending actual entry

DocWonmug

Possible break in RSI below its trendline coupled with retest of the previous LL on the 4H DT on 9 June 19 @1.32506. Looking for break of RSI below 50 and of the PA below its trendline as a trigger for a short trade.

DocWonmug Updated 

7/16/19 7:07 am: * RSI in process of breaking over trendline. => Wait for RSI close below trendline, and break below 70. And for PA to break and close below SR.

DocWonmug

I don’t usually trade the 1D, but this setup has been so long in development it seems like it is the only way to go. The EURGBP recently hit the top of the long-running 1W channel that started 28 Aug 2017. The 1D has been showing an RSI divergence since 24 May 2019, and it just broke and closed below the RSI trendline. If we see a break and close of the RSI below...

DocWonmug

I was was doing some reading on RSI divergence and wanted to see if I could find any examples. Up to now I had not been looking for this indicator. My Google search criteria was “using trendlines on RSI” and the first article I found from Admiral Markets was quite helpful (disclaimer – I am not associated with Admiral Markets in any way and in fact had only heard...

DocWonmug

In the 4H, there is an UT since 30 May 2019. However, the next HH is in jeopardy due to the 1W channel since 12 Feb 2018. If we see a reflection in the RSI, I’ll be looking for a long trade with a TP below the 1W channel top.

DocWonmug

7/9/19 12:18 pm: * Break and close below RSI trendline. * Break and close RSI below 50. * W%R at 70 * SL at recent SR (1 H) *TP above historic SR (no recent data) => Wait for PA to break and close < 135.195, and W%R to break and close below -70.

DocWonmug Updated 

7/9/19 6:59 am: *Good reflection on RSI at 50 *Good trendlines on RSI and PA *LL 3 July 2019 *SL and TP at multi touch SR *Good RtR 2.0 => wait for break and close above SR at 1.69576

DocWonmug Updated 

The overriding feature of this chart is that we are near a 10-year low about 0.68345. I see a possible reversal to UT from that point, although so far there is only one HH. I am looking for short PA to retest the close-by SR. If so, this will form the first HL of the possible UT. Alternately if it breaks that SR, I’ll be looking for a retest at the 10 year...

DocWonmug Updated 

Don’t see a lot of ideas on the yen, so here is mine. We have a good break and close above a solid falling humongous blue trendline since 24 April 2019. Expecting continued long PA in conjunction with RSI rising trend. W%R is also solid above 20. So for a trade, I am looking for a dip in the PA to where the bottom of the recent channel intersects with the current...