Get started

Rsidivergence

DXY reversal? Positive signs for the marketDXY is touching the top of a multi-year parallel channel on the monthly chart, whilst also displaying bearish divergence on the RSI. This, to me, signifies at least a small reversal over the next couple of months. This should be buillish for stocks and crypto, which are all reaching significant levels of support at the same time. There is a lot of fear in the market, and blood on the streets (at least in crypto), so I am buying in here for a swing trade. BTC: SPY: QQQ:
TVC:DXYShort
by SlumberJack92
Current state of the market and Mina reportMina chart is forming a descending triangle (bearish pattern), nonetheless don´t means that the price is going down. On the contrary can easly break up. Even more RSI is making lower highs and higher highs while price is making the same lows (bullish divergence), meaning we are getting momentum. We also can argue that this chart is forming a inverted Head & Shoulders pattern (Bullsih pattern) espeacially in the shorter time frame (12h) wich gives us confluence. We are seeing exhaustin signs of the bears in all markets. I belive we can see a relief rally to the target (marked in the chart) especially because BTC.D is facing a big resistance. Meaning 1)all alts and bitcoin have more fall ahead (alts disbelieve more than bitcoin) or 2)Alts will go up more and in a fastest way than bitcoin. In my personal opinion given the market conditions I think the second one is wich will play out in the near future. So i can start watching some alts to swing trade and day trade being Mina is one of them.
Long
by AlexandreAmaro
PTTGC | Wave Analysis | Downtrend Target Wave II ProjectionPrice action and chart pattern trading > ABC correction wave 2 is around the corner within the zone 0.5 retracement of wave I. > The current wave C extended 1.213 of wave A > Upcoming Elliott Channel breakout to confirm end of downtrend correction > Long Entry @ Channel breakout near SMA50 zone > Short-term target at SMA200 / Volume Profile Point of Control > Medium term trade target at 0.786 - 1.0 Wave I position > Stoploss at the lowest point of Wave C zone > RRR: 2:1 for short term and 3:1 for medium term trade Indicator: RSI above 50 with bullish divergence signal Always trade with affordable risk and respect your stoploss.
SET:PTTGCLong
by dukeposh
GBPUSD-Weekly Market Analysis-May22,Wk4Last week if you have gone through my analysis and engaged the market when it tested the buy zone(cyan box), you would have earned 159pips of profits in just the 1st target. If you have missed that setup, you can wait for the next opportunity. The Bearish Shark Pattern on the 4-hourly chart gives trend traders an opportunity to engage the market. However, I do not like to see consolidation before the completion of any Harmonic Patterns. I'm waiting for a shorting opportunity at 1.2582 on the Shark Pattern, more than ever a candlestick confirmation is required.
Short
by RaynLim
BTC Weekly Chart - MACD + Elder Force Index + RSIIn my analysis, I have used a logarithmic scale on the weekly BTC chart. First of all, I want you to pay attention to 200 days of Moving Average Exponential it is very close to the current price of BTC at the $26976 level. With all the inflation rate that we got today 8.3% plus 50 basic points monthly raise will continue we can expect that price could test this 200 days EMA. Also, we can see the fighting between bulls and bears for the $30000 level right now in real-time. In my opinion, it will be good to see a test and after that retest that will create a double bottom technical figure with a shape of W. Of course, bulls will try to defend this level as much as possible. It is a potential place for opening a long position. Let's discuss the MACD, Elder Force Index and RSI indicators: On the chart, you can see two ATH - the first one on 12 Apr 2021 ($64956) and the second one that was a little bit higher on 08 Nov 2021 ($68976), but the indicator shows us a bearish divergence that was an urgent call to start closing long position and think about short one. What's more, you can see on the diagram that it shows that the power of acceleration is dropping down and the same result occurred on the Elder Force Index - force was decreasing. RSI was showing the same exact picture of bearish divergence as MACD. All three of them just powered each other which helps us to build a strong basis that soon will be BTC correction or even a bear trend. Now is it time to speak about both corrections that happened on 17 May - 19 Jul 2021 and 17 Jan 2022 - 21 Feb 2022, there was bullish divergence on MACD and RSI, but not on the EFI that clearly has shown that we should be careful and watch out for the bull trap and it happens on the $48000 level. Now the last downtrend movement has unveiled both bullish divergences on MACD and RSI. At the present time, we have a bullish divergence on the Elder Force Index, but for me, it is not a leading indicator but more a tool that helps approve the other two indicators. RSI shows us that it moves to the lower zone which indicates that BTC is oversold. I also depicted the Covid dropdown (09 Mar 2020) on the RSI it is on the 33.53 level, actually, at the current level and even deeper downside movement - 28.86 level (10 Dec 2018) when was the bottom of the bear market. MACD's diagram indicates that two previous downtrend movements were more powerful where whales were selling their bags, otherwise, you can see that diagram became smaller and smaller each time, for me, it shows that price got pressure from the overall world economy and the U.S. itself, but not from the whales that still accumulate more BTC coins. May the profit be with you!
INDEX:BTCUSD
by PaulSnow
BITCOIN H1 - 0́́́́́́9/05/2022" Never catch a falling knife " is what I was always been told since the day I first come to trade. In some scenarios, experts are capable to do so with advanced technical analysis and experience. But they are experts, not me. I am still on the journey to explore trading as well as myself. As the picture above, bitcoin is in an extreme fear stage in which many people are skeptical about the future of bitcoin. Candles show extreme bearish while indicators all mark as Oversell . However, as far as I concern, cause everything is in the extreme stage, the reversal is likely to happen at any time from now with the strength at least half of the current bearish. " Buy on dips - Sell on rallies ", unless you are a scalper , there is no point in making any sell position with an expectation to have RR higher than 1:3. Personally, as a scalper, I will choose to observe for further information like reversal or an tiny uptrend on a smaller timeframe Remember to manage your risk properly . Do not blindly enter any trade without being mindful of your current emotional status. Do not let the market drive you crazy. Be the warrior of yourself Good luck
Long
by Beanissthefunnytrader
2 Signs Ethereum's Bearish Tendency Will RevertFor a pretty long time, Ethereum has been in a bearish tendency, but, because of these signs, it will probably revert. The first one is that it is diverging. The RSI is going up despite Ethereum dropping, meaning there is a chance it will revert at any time. The second one is that it's testing the 50 EMA line. Moving Averages with high numbers (50,200, etc) normally show a market's tendency, but, because Ethereum is testing one of those numbers, it potentially means a warning that it will reverse. CRYPTOCAP:ETH
CRYPTOCAP:ETHLong
by lorinstocksinvesting
USDJPY-Weekly Market Analysis-May22,Wk1As early as 14Oct2021, I've said that the USD is going to appreciate for the year 2022. That doesn't mean that you can't head in for any counter-trend move, you just have to do it with caution. At 131.57, USDJPY will have an AB=CD completion, it is common for traders to look for a countertrend move at its completion. Conservative traders could wait for a Double Top with RSI Divergence at the level. Trend Traders could wait for the Bullish Shark Pattern at the 4-hourly chart.
Short
by RaynLim