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Rsidivergence

USDCAD - Head and ShouldersA head and shoulders formation coupled with RSI Divergence give a strong call for me to engage another shorting trade. A long shadow candle would help me to make that tough decision. On top of that, I still have my existing shorting trade on bearish shark and bearish crab harmonic patterns engaged. Shark Pattern and Crab Pattern are the harmonic patterns that potentially drives lots of profit and at this moment it is at a risk-free zone(I'd shifted my stops to entry). Which means every pip the market move towards my target(down) I earn double and if the market move against me i lose single.
Short
by RaynLim
BTCUSD - RSI showing bearish divergence?Hi everyone, Today I decided to go for a TA on BTCUSD mainly because of all the hype lately of BTC hitting 13K and going past that. Here are the highlights: - So far BTC has been bullish since the COVID-19 crash halfway of march 2020. (Blue ascending channel). (bullish sign) - BTC got a nice boost of the support area around 10K-10.5K which made the jump to 13K possible (bullish sign) - RSI indicates BTC has been overbought three times even though the chart/trend remained bullish. (bearish sign) - The RSI also indicates that de the tops are at the same height en even slightly declining while the chart/trend remains going up. Indicating a reversal trend (bearish sign). - The yellow dotted line shows a curve in which the trend slowing down pointing downards as well (bearish sign) - As our current position is now between 13K and 14K we could be getting heavy resistance because of the earlier resistance from halfway june 2019 (bearish sign) For now I'm betting my chances that BTC could drop down to 12K-10K, because of the hidden bearish signs. After that somewhere in Q1 2021 a new strong bullish trend continues. For know I stay neutral until future trends confirm otherwise. Trade safe, stay safe! ______________________________________________________________________________________________________ I'm purely a beginner in technical analysis. Let me know what you thinnk about my analysis and hit like or a follow if you like my ideas. Feel free to comment or share your own analysis, I would gladly share thoughts with you. Any of your feedback is my motivation to keep going and to learn more about Technical Analysis!
BITSTAMP:BTCUSD
by AlgoSurfer
Strong BTC support line + Bullish RSI divergence =BULLISH RUNHI TRADERS! This BTC support Area is strong so far and when RSI help it, gonna be good sign. A strong support {9800-10000) kept btc above support area and couple times Bitcoin touched it,as price action aspect we can say many buy orders triggered in this area which push btc up 200-300$ anytime therefore it is important support because of technical and Psychology matter for traders .(above 10k psychologically matters a lot in bitcoin market as many of you know} At bottoms you can see RSI bullish divergence occur in 4H and Daily time frame , similar happen for MACD as well which confirms Rsi bullish divergence and give BTC a higher chance for Bull run. (MACD & RSI bullish divergence) If BTC stay above 9800 in next couple hours it will be another good News for Bulls. Please share your idea and leave a LIKE . I'd really appreciate it. Good Luck and Good Profit.
Long
by miladniki
13
CHFJPY Trade opportunity (2 week trade setuHi everyone, I am exhausted. I have been up until 5am these past couple nights charting, and letting out blog posts, so it is nice to be able to post a bit earlier and get a good night of sleep. Anyway, let's get into the trade setup.- The pair we are looking at today is CHFJPY. What initially intrigued me about this pair, was the elliott wave structure on the 15 minute. Elliott wave analysis: As you can see from my chart, we have appeared to have just finished a wave 2, meaning that we have the opportunity to catch what the strongest part of this wave. By the time you are reading this, we have most likely missed the chance to catch the wave A, or the wave B, so use this time to position yourself for the wave C. At the moment, wave B hasn't yet unfolded, so I recommend proceeding with extreme caution. I would not recommend trying to catch the low of the wave B, since they tend to be extremely confusing when they unfold. My estimate for the wave B, is that it will hit somewhere around 114.9. This area is the top of the previous base channel, which is a strong support, and it is also the wave 4 of the previous wave A, meaning that there is lots of support here. And there happens to be around where the 55 ema on the 15 minute is. There is no guarantee that this will unfold in the wave count provided, so proceed with caution. Ideally some confirmation that wave c is starting would be nice. So if we bounce off of the support and hit past the previous high, I would see this as enough confirmation to get in. The target for this trade is 115.698, and I would see a break past the 200 ema on the 15 minute as a sign to get out of the trade. Moving average analysis: On the 15 minute, we have fanned out quite a bit, and this justifies the pullback for the wave B, and then a greater jump to higher highs in the future. On the on hour, we have seen a golden cross, meaning that the longer term outlook for this pair is bullish, and in turn, this means that the chance this is a wave 3 move is quite likely. MACD analysis: On the 15 minute time frame we have crossed and are headed down, which is exactly what I would expect for this chart. I could see a small cross into the negative side or maybe even a touch of the zero line and a reversal back up to the target. It all depends on where wave B will end. RSI Analysis: The rsi on the 15 minute also confirms the count I have outlined. As visible from my chart, we seem to be bearishly diverging on the short term, which again supports the idea that we are headed down for a wave B and then back up for a wave C. The reason why I don't think we are headed very far down, is because we seem to have crossed into the overbought territory, but not so much to make me think that we are completely out of steam. I see that this move on the rsi, is a sign that we are going to make a small stop down before we head back up. In addition to this, on the one hour time frame, we have repeatedly tested the resistance to break into the overbought territory, and this makes me believe that we are about to break through it after a small wave B down, and when we break through, we will begin our ascent to the target. All in all, I hope that you guys have found my analysis very helpful in pointing out what is happening. Right now this is all speculation, so I wouldn't start jumping in, but instead I would wait until what I have said starts actually happening. As it starts to happen, I would recommend buying in. I wish you the best of luck in the last 2 trading days of the market, and as always check out my twitter to receive instant notification of when I see another trade setup. Also, a little reminder to everyone and myself included, it is important to count the waves as they appear. Even if they don't create the prettiest of counts, the price action never is wrong, and I find if you try and fit the price action into a symmetrical and aesthetically pleasing count, you aren't actually able to predict much of the future, you are just organizing what has passed. So i hope this has been helpful for everyone, and enjoy your night.
Long
by Mika_k
#SPX - Betting against the market once again Few patterns are forming on the chart 1. we are trading inside a possible Broadening Wedge & about to hit R2 resistance on monthly charts hence looking to enter short position. 2. RSI Divergence - look on the left, see what happened back in 2019 elections are coming up in November so i think market will top out around that time, i am gonna wait for MONTHLY CANDLE CLOSE BEFORE ENTERING or i will average in my entry but trying to get average around 3450 for the short position. currently monthly candle is super strong i want to see a price rejection & bearish candle stick pattern formed to give more confidence with my short position. check the timeline for further updates. there is also a possibility of H&S but i am not sure of it yet, i think we will probably turn this range into an ascending triangle instead if H&S pans out that will mean we are entering in to multiyear recession/Depression!!!!!!! #notfinancialadvisor #DoYourOwnResearch
SP:SPXShort
by Bromadic
10