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Overbought

Blowoff Top Incoming: Do Not Short Yet!Chart says all. Pattern from August 2020, now making same insane run. The 1.62 Fibo extension from September correction is at 4720. Do not short based on: "I think the price is too high!" "It's overbought, must come down!" "How can it get any higher?! Already nosebleed!" "I feel lucky!" Short on signal; the engulfing bear candle after blowup. IF it follows overlay, gonna be Tues 9 Nov... The retracement after top should fall to 50 DMA IMO... ~4480; then perhaps another run in December?! GLTA! This is not advice, just another tutorial worth evry penny u paid for it!
CME_MINI:ES1!
by DaddySawbucks
33
EW Projection for Bull Rally: You sure you want to short this?!Be really careful about placing bets against this monster. The end phase of bull markets are always characterized by explosive panic rallies. Been rising for 12 years. Fed gonna raise rates >1% next year, probably gonna get a 50 basis pip pop in spring or summer, inflation unchecked. Read Friday's NY Times for a very insightful article on when, why and how much interest rates will rise; projecting mortgage rates to rise >1% in 2022. Most traders now alive have never seen a secular bear market. That's a period when prices just decline for years, or churn aimlessly, no one wins. Bear markets that last for 3-6 weeks are not real bears, lol. They are mini-bears, bear cubs or just a mild hangover before the buying begins again. In a real bear, the buying does NOT begin again. Prices decline, and then drift further down; and do not bounce. This is not here YET, but SOON IMO. BUT, before the Bear, we should expect a last hurrah for the old Bull, and shorting it will be a widowmaker. Do not get killed, please!! So much for the lecture, here's the Education part of this idea it's about using all the tools you can to make educated guesses about price direction; we have Elliott waves, RSI, MAs, and Fibonacci retracement and projection extensions as possibly useful analysis tools, any and all of which can and will fail us: Elliot wave theory suggests that we have a completed or near completion 3rd wave, the longest and strongest wave of an impulsive movement. Beware! EW projection is an arcane art and no one can really 'see' these waves until after they have passed... you do NOT know where you are in the wave when you're in it! Forecasting of EWs is purely speculative guesswork, and totally subjective; "Where do I number my waves, guru?!" Disclaimer: As you know, Ralph Nelson Elliott was an accountant and math genius whose insight into market behavior led to his uncanny prediction of the bottom of 1935 mini-bear that followed the Crash of '29 (a bear that lasted until 1932...!). His theory is only a theory, and many forecasting services exist pretending to anticipate what the market will do next, but in fact underperform index funds. Still fascinating though! RSI is overbought, but can get MORE overbought (see prior posts about why we do not enter shorts purely based on indicators!); expect some consolidation and price weakness before moving higher; the Fibonacci 1.272 extension of this rally leads to price 4614, after pullback to a higher low. Market trades now more than 3SD above the 200 DMA, more than 2SD above the 50DMA; a pullback is very likely in these conditions. the 20DMA may be support. Disclaimer: As you know, Fibonacci is a dead Italian math genius, these projections based on nothing more than number theory are pure necromancy but sometimes can be coincidentally correct, like a stopped clock that's right twice a day, lol. IMO 4682 is on the table at the next Fib extension. Expect weakness in the last week of October; and new ATH again in November, barring surprises. A sharp pullback is likely to follow the ATH, if and when we get it. So uncertain now, just a mad gamble TBVH. NB: A zig-zag pattern is still possible, some of the fiercest rallies precede the most bearish cascades; or a Cup & Handle may form, if so, the Handle typically will pullback half the height of cup wall, would be ~80-100 pips, so price around 4460-4480 is a likely a buy zone to re-enter. ANY or NONE of these possibilities might emerge, which makes stock speculation so wildly exciting! Be cautious, do not overtrade, use sensible position sizing! I am not entering a position or making any recommendation to take any position here. Pure WAGuess IMO; this is purely for your amusement, and hopefully enlightenment. GLTA!
TVC:SPXEducation
by DaddySawbucks
9
SPY- Bearish Reversal - UpdateSPY looking very bearish here, frankly, the markets have been overextended for quite some time and all technicals are bearish on almost every timeframe- Some FIB levels and RSI-based supply and demand zones to keep an eye on- - Bearish ABCD Harmonic Pattern Formed - Spinning Top Candlestick Pattern (Reversal Pattern, Bearish in This Case) - Bearish Butterfly Harmonic Pattern Also Formed (See Attached Chart) - Buyer Volume Drying Up - RSI way in Overbought Territory - MACD Death Cross on the 4-Hour Previously Charted
AMEX:SPYShort
by jacobosiason7
2
You really wanna go long here?!RSI near 80, MFI near ATH over 90, Blowing Up. Chart has all the details. Could top this week or early next. Overlay is a WAG. Absolute disconnect of price from reality. Selling soon IMO. Price may press higher to test the Fibo at 16,530 before rollover. Every blowoff ends in a waterfall cascade. Excessive greed gives way to excessive fear. Gonna get real dicey real soon IMO. Expect ATH ~400 in QQQ before it's done IMO. Might get an exhaustion gap up Thursday 11/04. See related ES1 chart, suggests Tues Top. This is not advice, just another tutorial about nutty price behavior. I do not recommend or hold any position now; GLTA!
CME_MINI:NQ1!
by DaddySawbucks
5
#BTCDAILY - 7.NOV.21 TESTING UPPER TRENDLINE#BTCDAILY - 7.NOV.21 TESTING UPPER TRENDLINE Very strong bounce to keep it within this expanded symmetrical triangle pattern. Point of interest atm - if we breakout then there will likely be a pullback followed by a pretty large pump to at least $64k in the short-term. HOWEVER... There are quite a few bearish signals from Alpha Volume + Quite Overbought + Challenging the trendline resistance + Asia coming online rarely pumps a pump and usually buys the dip + Future Pivot is sitting a little lower along with the general pattern suggesting a retracement here. There is quite alot of excitement around Elon selling $25b worth of #TSLA shares and speculation it will go into #BTC but who announces they are going to buy before they are going to buy??? On the whole its still looking super bullish and not really expecting any crazy collapses from this point or at least until the ATH is challenged again
by Kryptochristian
CRO is pullbacking, long term potential!Hello! It seems we have met a new resistance @ 0.365 after a strong bullrun since 1st November. After watching the RSI at 80 overbought area, Price is probably gonna dip again to either 0.29 or around 0.33 (previous ATH) for bulls to come in again and push it further up! If it however crosses the resistance level we might see even further increase, and this coin is on fire right now. I believe strongly in this company and its products for especially long term investment, i've been holding on to it for over a year now. I also believe 1 Dollar price is not too far if it continues like this! Buy the Pullback as shown in the chart (0.29 - 0.33). Happy Trading,
Long
by dainex64676
3
Short-Seller's Nightmare, ReduxIf you sell short or speculate in put options because: - Price too high! Must come down! - RSI Overbought! Must go oversold! - Another ATH?! Sell it! Will dump soon! - It's an Elliott Wave and Theory crafters say "Sell today!" or "Sell on a specific day I magically forecast!" -I feel lucky, punk! Make my day! Then you will lose money. IF this monster rally follows the same path we saw in last year's stupid August rally, we could see price north of 4800... the Blow-Off Top. I am NOT saying this will happen, BUT I think it COULD happen, keep that in mind when you place your bets... beware short-killing face-rippers. THIS IS A TUTORIAL NOT ADVICE! I'VE NO POSITION AND NONE IS RECOMMENDED!! GLTA!!!
TVC:SPX
by DaddySawbucks
3
Zig-Zag Path to ATH?Just an idea. Every correction has been a zig-zag since 2015. Last year the zag came in late October. Cycle this year seems to lag a week behind. Time bars suggest this rally maybe near end move. Not saying that gap at 360 will fill, just that it might fill, it's a price magnet TBS. Price could consolidate and pivot again anywhere between. Some kind of pullback is likely in next week to ten days IMO. Gone overbought, had some rough news, gapped down and closed that gap; Expect further selling soon IMO. Been wrong once before, this is definitely not advice, DDD, GLTA!
NASDAQ:QQQShort
by DaddySawbucks
11
Imminent Drop For CHRW?Based on historical movement, the peak could occur anywhere in the larger red box for which we are due. The final targets are in the green boxes. The pending bottom should occur within the larger green box as has been the historical case. Half of all movement has ended in the smaller green box. In this instance, the signal indicated SELL on October 19, 2021 with a closing price of 97.56. If this instance is successful, that means the stock should decline to at least 95.8 which is the top of the larger green box. Three-quarters of all successful signals have the stock decline 3.929% from the signal closing price. This percentage is the top of the smaller green box. Half of all successful signals have the stock decline 6.523% which is the end point of the black dotted arrow. One-quarter of all successful signals have the stock decline 12.32% from the signal closing price which is the bottom of the smaller green box. The maximum decline on record would see a move to the bottom of the larger green box. These are the same concepts for the levels in the red boxes as well. The ends/vertical sides of the boxes are determined in a similar fashion. The trough of the decline can occur as soon as the next trading bar after signal close, while the max decline occurs within the limit of study at 35 trading bars after the signal. A 1% decline must occur over the next 35 trading bars in order to be considered a success. Three-quarters of successful movement occur after at least 7 trading bars; half occur within 13 trading bars, and one-quarter require at least 25 trading bars. The black dotted arrow represents median historical movement. Medians are a good metric, but they are just one of many I use when forecasting future movement. As always, the stock could decline the very next bar after the signal without looking back (therefore the red boxes would not come into play) or the stock may never decline (and the green boxes may never come into play).
NASDAQ:CHRWShort
by StockSignaler
GBPUSDWe are at a crossroads with GU. Not seeing where its time to sell. If you observe the daily it could just be a pull back to push higher. If you look at GJ (correlated Pair) you will see that its over extended and the could retrace heavily. If you look at the DXY support was formed as well News Confluence as well, where the EU said the are still issues with Brexit deal ("far apart on the big issues" involving Norther Ireland) Scientist also say UK should resort to Plan B in Covid measures (Covid Case rising) So there are a lot of sell confluences. But the market is still KING, still following price action.
by GUgod876
ETH- Double Top at Supply Level- UpdateMixed emotions on ETH here- Double top formed on the daily timeframe right at an RSI-Based supply level as well as a bearish ABCD Harmonic pattern formed on the 2 and 4-hour timeframes (2-hour Chart Below). RSI overbought on every timeframe besides the daily timeframe, which is nearing overbought territory as well. However, does seem to be forming a larger ascending triangle, likely will see a bit of a pullback and some consolidation before another push to new highs. Bearish short-term, very bullish long-term- Just some FIB levels and RSI-based supply and demand zones to keep an eye on **See Previous Charts Below** 2-Hour Previous Charts
KRAKEN:ETHUSDShort
by jacobosiason7
Market Set To Drop, NTES With It?Based on historical movement, the peak could occur anywhere in the larger red box. The final targets are in the green boxes. The pending bottom should occur within the larger green box as has been the historical case. Half of all movement has ended in the smaller green box. In this instance, the signal indicated SELL on October 22, 2021 with a closing price of 102.24. If this instance is successful, that means the stock should decline to at least 99.35 which is the top of the larger green box. Three-quarters of all successful signals have the stock decline 6.51% from the signal closing price. This percentage is the top of the smaller green box. Half of all successful signals have the stock decline 10.27% which is the end point of the black dotted arrow. One-quarter of all successful signals have the stock decline 16.765% from the signal closing price which is the bottom of the smaller green box. The maximum decline on record would see a move to the bottom of the larger green box. These are the same concepts for the levels in the red boxes as well. The ends/vertical sides of the boxes are determined in a similar fashion. The trough of the decline can occur as soon as the next trading bar after signal close, while the max decline occurs within the limit of study at 35 trading bars after the signal. A 1% decline must occur over the next 35 trading bars in order to be considered a success. Three-quarters of successful movement occur after at least 10 trading bars; half occur within 22 trading bars, and one-quarter require at least 30 trading bars. The black dotted arrow represents median historical movement. Medians are a good metric, but they are just one of many I use when forecasting future movement. As always, the stock could decline the very next bar after the signal without looking back (therefore the red boxes would not come into play) or the stock may never decline (and the green boxes may never come into play).
NASDAQ:NTESShort
by StockSignaler
Zig-Zagging?!Every correction since 2015 has zig-zagged. Going again? IDK, but eerily close to dates, peaked on 12, sold to 28 Oct 2020. This one is running a week behind, looks like we peaked 10/21; to confirm on Fri 10/22, ERs tanking FB, SNAP, INTC techs overnight; if double top is in, might expect weakness until ~5 Nov, if the zigzag pattern repeats. Bull trap?! Not saying that it will, just something to think real hard about before you go plunging long IMO... at insanely overbought RSI; GLTA! This is not only not advice, there is no position indicated and no strategy (not short, definitely not long!); just pure tutorial, enjoy! PS the overlay is Sep/Oct 2020, amazing how it fits, even the little retracements on 21-24 Sep and 11-13 Oct are precisely timed...!
TVC:SPX
by DaddySawbucks
7
CADJPY heavily overbought will have a correction before rising Hello Traders Here is a new Sell Opportunity, Very overbought , this pair needs to fall before rising again 💹CAD/JPY ⏬SELL ✅ Entry @92.500 or below ✅TP-1# 92.400 ✅TP-2# 92.200 ✅TP-3# 92.000 ✅SL# 93.200 My Forecast : This Pair Will fall , RSI is critical. But there is a risk to go up further with this pair (careful) JamdeJam will not accept any liability for loss or damage as a result of reliance on the information contained within this channel including data, quotes, charts and buy/sell signals If you like this idea, do not forget to support with a like and follow. Don't hesitate to write comments.
Short
by UnknownUnicorn20731539