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Moving Average Convergence / Divergence (MACD)

Sell checks offI see a clear sell in play based off support and resistance. We can see clear rejections at 1.37000 followed by huge drops to supports as low as 1.34500 at this level. To keep it safe I placed TPs at the next two key supports for retests. Macd and Signal made a clear cross and heading for 0 line while RSI is looking to break support. DXY is currently in fuel mode as we saw a second support retest at 90.00 followed by a pivot. Please comment with thoughts and ideas. Thank you.
Short
by Pika7993
6
RSI/SMA/Pitch Fork Support and Res. BTC BREAKING BEAR TREND.Historically a shift to a bear cycle in BTC is marked by a 50% drop within a 2 week period. If you actually look at this latest correction it really only measures about -27%. Thus I feel it does not warrant any closing of short term positions. I actually find this drop to be comparable to the April 2017, prior to the REAL FOMO coming in. The chart shown here is BTC, derived from the Coinbase exchange. The beginning of the channel shown(also where the pitchfork begins) is where a parabolic shift up began(Representing an explosion of growth), this can be confirmed by an uptick in volume, as visualized by the volume SMA. The purple SMA is 100 length, which historically is also broken when a bear cycle begins. The blue SMA is 16 length. It is KEY that the 16 length SMA is broken for the Bull trend to continue. The RSI is often said to be obsolete, clearly this isn't the case on 4hr charts. This makes sense since many day traders and swing traders use the RSI oscillator, but on the intra-day charts primarily. Please like and share!!
BITSTAMP:BTCUSDLong
by RichardNorthrup
Spot on price actionThese arrow levels were set to my previous XAUUSD idea that was spot on and can be seen in the attached idea. As we can see there was a pivot around 1824.800 (which can be seen as a pivot point in attached idea). I expect a retest of 1900. The trend in my previous idea followed the green arrows and pivoted as I mapped at top resistance to drop to this support. Based off my accuracy here I sentiment towards strong price action in play. Technicals are set for upwards momentum with macd and signal heading towards 0 line and RSI heading further out of oversold zone. NOTE: Arrows are set to my previous idea that is attached Please comment with thoughts and ideas and make sure you view the previous idea attached. Thank you.
OANDA:XAUUSDLong
by Pika7993
1
Next stop 26 K (Potential direction sentiment to target)Previously 24k was a clear strong support. Once breached the pair found resistance at 25000 with multiple rejections. The trend I noticed once a key level breaks is a push to the next psychological whole number (22 k to 23 k, 23 k to 24 k, and 24 K to 25 k). I mapped out my trend pattern sentiment to visualize what I see. We may see some volatility between 24 K and 25 K until a significant breach of 25 k occurs. When these levels are breached the volume of the trend trading increases significantly. Please comment with thoughts and ideas. Thank you.
BITSTAMP:BTCUSDLong
by Pika7993
2
Potential sellThis is a two entry sell analysis with an entry rule. Although GBP as found some momentum as a whole, CAD has been looming right behind in its showdown with 4 weeks of strong positive economics which is expected to continue through the start of 2021. The entry rule here is clearly shown on the chart. A break and close out below the support of 1.73500 for one who practice strict risk management rather than sell stopping at 1.74000 ( which I’ll do on my demo account 😂). TP first sell at support shown and if the support breaks allow the second sell to continue to second TP. Close out second sell if there is clear support at 1.74000 and pivots look for SL. RSI and MACD are currently correcting towards selling points for some technical sentiment. Please comment with any thoughts and ideas. Thank you.
Short
by Pika7993
1
Long term sell off to low ( Strict entry rule)After a top retest of near 2.00000 in March the pair entered into a sell off long term short trend. We have breached levels that sentiment a continued drop into 2021 to match lows. It is difficult to forecast how low the trend will breach however due to global economy one would sentiment retesting low of lows. Presented is the day chart. With a steep sell off I sentiment a retest oft at least 1.54000 as long as there is a breach and close out below 1.59150. A safe entry point to ride the trend would be 1.59100. MACD divergence in play with RSI potential breach through oversold zone. Please comment with thoughts and ideas. Thank you.
Short
by Pika7993