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Connors RSI (CRSI)

BTC Monthly, uncharted waters Trying to time corn again out of indicators, and historic patterns, sounds a bit silly at this tie, but as the title says, uncharted waters. On a Connors RSI every period spent on the overbought zones ended with a touch back at the 7 SMA. I noticed a pattern of 3 periods with different lengths where this happened. If the pattern is to repeat it self this should drag on for through Feb, due to the DMIADX indicator has just signalized the uptrend movement, and in march we get that touch back on SMA, really difficult to set a price target but those touches are around 30~50% retraces. We could still see a touch there by late this month or Jan. In any case, just a thought for longer term, trying to time the next big moves. Not financial advice.
BITSTAMP:BTCUSD
by lemongrab16
Rare strong bear market rally will fade due to profit takingThe "S&P 500" rallied so strong with a 1% daily gain four consecutive trading sessions in a row for only 15 times since the "S&P 500" exists according to Bloomberg. The Connors RSI also shows a very high value, last seen last October. And the current trading day (Wednesday) closed at the highs of the session, which will create pivot points which be difficult to exceed one more time. Therefore a sharp decline for at least one day is possible. Also because I think the fast rally was mostly a short squeeze / short covering rally and less driven by real natural demand from buyers - yet. Maybe next week after some profit taking I see a real strong rally to emerge. Short entry: 1925-1930 Stop loss: 1955 1. Target: 1900 2. Target: 1875 3. Target: 1825 P:S: Here is how rare such a large index move upwards was in recent months, as measured by the Connors RSI. Only three times since Summer 2013:
FX:SPX500Short
by ChartArt
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