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Rsidivergence

EURUSD-Weekly Market Analysis-Oct22,Wk2If you had read my overall analysis(check out the Related Ideas within TradingView) on EURUSD, you might get a bit confused with this analysis. How could we look for a buying opportunity where the overall trend is bearish? In fact, we can, there are ebbs and flows of the market, so within the bearish trend, there are bullish movements within; what is important is that you have to know if you are trading with or against the trend. This Deep Bullish Gartley Pattern has been violated, there is a break and close below of X, but with NFP(Non-Farm Payroll) just happening last Friday, I like to give EURUSD some leeway(but leaning towards not engaging it. Some of the further movement I need to see is an immediate reversal( bullish ) with a double bottom combined with RSI Divergence.
Long
by RaynLim
EURUSD-Weekly Market Analysis-Oct22,Wk1The EURUSD is on a Bearish Trend on both Daily & 4-hourly charts. The key resistance level on the Daily chart is at 0.9900, and on the 4-hourly chart, we have a Bearish Shark Pattern that completes within the sell zone(supply zone) at 0.9866. Last Friday, we did an aggressive short on the 1hourly chart based on a potential double top setup that has an RSI Divergence with it. Currently, the setup is a double top with a retracement pull-back. Normally, it is a perfect opportunity for traders to engage in the trade, I don't quite like the current candlestick pattern confirmation. I leave that to you. Related Ideas is at the bottom of the tradingview chart.
Short
by RaynLim
2
SPY - Short term bullish - Quick TradeHello Friends, AMEX:SPY has shed a lot of value in a week but there seems to be some good news if you're looking for a very short term bullish trade. We will have to understand supply/demand levels on multiple time frames. In a daily TF, Price opened gap down, approached a daily/weekly demand zone and closed within top 33.3% of a candle range(Bullish Pin bar candlestick). Bullish pin bar with a good volume suggests the presence of demand. There's a gap to be filled. So our first target is at the upper bound of a gap around 373.44. I like to use anchored VWAP as a dynamic support/resistance and also as an additional confirmation for the target. In a downtrend, I drop anchored VWAP from a recent swing high to find dynamic resistance level which is currently at 386. There's a visible supply zone between 381 and 390. So if price is able to breach our first target then the next safe target would be at 381. Target levels are marked on the chart below. Zooming into 45 minutes TF, it is visible that before price opened gap down, there was a supply zone forming. Our first target is actually a lower bound of a supply zone. Additionally, a bullish RSI divergence is also visible which is an additional confirmation for price reversal. Similar confirmations are found in 15 minutes TF as well. Remember, Overall market is still bearish so you have to be very nimble while trading against the trend. A good trader always find opportunity in any market conditions! Do you agree with my analysis? Please let me know your thoughts by commenting below and follow me for more such ideas. Happy and safe trading! :)
AMEX:SPYLong
by PriceActionTrader1
4
Quick hit n run [risky] shortBearish Wolfe Waves forming inside an ascending wedge. I would wait for price to break the upper Value Area of the volume profile of the current trading range to confirm short entry . RSI but looks ready for a little move to the downside. Golden pocket on the fib marked as well. Will trigger myself a high leverage short taking targets first at the golden pocket, then according to reaction on POC and VAL of the volume profile I will decide wether to book more profits / close position or not. An ideal solution would be a sweep of the low. Triangle fakeout / fake breakout could add confluence: Trade safe and use adequate position sizing.
Short
by xcitedDelirium
2
SPY - Short term bullishHello friends, Let's understand Multi-timeframe analysis for AMEX:SPY . Daily TF: Recent price action suggest that a short pullback could be seen in SPY as it is approaching the demand zone. 45 minutes TF: Below are the confirmation signs that suggests a pullback. 1) Price is approaching daily demand zone - Buying pressure may step in 2) Price is making LL while RSI is making HL - Bullish Divergence 3) Price action is showing rejection from demand zone(long lower wick candles) - Bullish reversal price action Additionally similar confluence is seen in TVC:DJI . Daily TF: 45 minutes TF:
AMEX:SPYLong
by PriceActionTrader1
3
BTC DAILY BULLISH DIVERGENCE(S)Bitcoin has seen a dump recently. After the dump, on the daily chart it has made a bullish divergence in the RSI. Also since 17.9k low, BTC has made a MACD bullish divergence. We have probably seen the worst of the bear market and BTC probably will not go too far below 17.9k. Personally, I won't open a long position right now because this isn't enough reversal confirmation according to me. We need to break above 19.5k first and 20.5k after that and confirm a new (short term atleast) uptrend. BINANCE:BTCUSDT
by AttilaTurkei