Get started

Overbought

Overbought weekly RSI with (daily) divergence in OBV and RSI14As the two mentioned indicators confirm each other AND the weekly RSI is also overbought I risk a little short position. Nevertheless, market could move higher anytime so I would only risk 1% with this first trade. If there is a new a high and I get stoped out I would risk another position if there are signs of weaknesses. If the short plays out well I would try to make the trade even bigger! ;) Caution: Trade against mid- and long-term trend! Stop-loss is beeing moved closer if there is a chance. :)
NASDAQ:MSFTShort
by suissedivergence
1
Put Opportunity (ABT)ABT has been continuously failing to push above a Fibonacci resistance while also showing more signs of bearishness. The greatest of them is the divergence that can be seen from the Squeeze Momentum indicator. If a stock is increasing than the stocks momentum should also increase but for this case, that is not true. Another indication of bearishness is the Willy Oscillator giving a signal to sell, due to the stock being overbought. Bearish Signals -Bearish Divergence -Willy Oscillator -Fib Resistance
NYSE:ABTShort
by ddcakez
STRONG SHORT 🔴 Lenin Would Be Proud Of This Short STRONG SHORT 🔴 Lenin Would Be Proud Of This Short We were one of the first traders who called short (26 July) when BTC spiked above $40k, and everyone else was calling ATH, moon, and bull run. You asked me if the idea ("All-in BTC Short 🔻 TP: $31 700, x10") was still valid: Yes, it's still correct. So, this is a clean remake of the same idea to reinforce our position. 🔴 KEY POINTS: - RSI is strongly overbought - Momentum hit RSI Resistance - Price Action hit Historic Resistance - Machine Learning (Artificial Intelligence, Linear Regression ) says upcoming Resistance - Bitmex Funding Rates favor short positions - Bitmex Troll Box is overbought (90% long) - Bitfinex whales started to short - Okex Top Traders have more shorts than longs - Chart Pattern: This Technical Indicator Variation worked 100% in the past We've got BTC short. All-in.
BITSTAMP:BTCUSDShort
by Elysian_Mind
5
Gbpusd Possible sell for 100+ pips GBPUSD analysis: after our recent 112 pip win we are now seeing a test of the resistance line. The bulls that rode this with me had a similar TP and now that it hit most of us have sold causing exhaustion in this pair. On top of it being overbought on the 4 hour and on a continuation of a downtrend, we are looking for a sell. I have placed a maroon trend line to confirm the push down. If price breaks this maroon trend line we will see a bear market. This could be at least another 100 pips downwards for now we wait. We don’t chase the market so be patient with this move.
Short
by TheGiovannie
4
MRNA Low Risk Short PositionMRNA is hillariously overbought, with stochastics, EMA's, bollingerbands, MACD, and RSI on the daily chart all showing prime conditions for a short position. Here's the chart showing those indicators: I am going to be watching this on Monday and throughout the week, looking for a short position entrance. I played it on Tuesday for a nice $50/ share short with similar technical indicators. Hoping to duplicate that again this week. Might go debit, might go credit, not entirely sure how I'll play this yet. IVR is somewhat high for a credit trade, and since they have earnings coming up, I imagine that will continue to increase. For that reason, a debit trade might be the winner here. That said, if IVR collapses, that will hurt my trade. Still formulating the exact plan, but I am going to play MRNA short in some capacity. I am anticipating a retracement to the $300.00 / level in the short term at $250.00 in the next few months.
NASDAQ:MRNAShort
by PureDelta
5
3 HOUR REVERSAL CANDLE IN CONFLUENCE WITH OVERBOUGHT CONDITIONS Hello traders, 3 hour chart here. Everyone is calling for a full blown reversal after just one bullish daily candle.....this is how traders get sucked into buying higher during bear markets while big money is getting there shorts filled by you. Overbought conditions, and a reversal candle with a massive doji. 25x long liquidations around $30,888 - $31,111. Stay safe, and never chase green candles. Same goes for red candles. Why? Liquidations/stop hunts will always come before the next major move, it's just how these markets we're designed to move and flow.
BITFINEX:BTCUSDShort
by YurloTrades
11
I sold My Car And I'm NOT Buying Bitcoin!My wife just got a new job and we now have a company car! There's no point in keeping our car, because it's a deprecating asset. However, as much as i want to buy more Bitcoin with this cash, i'm just not buying now and here's why; If you look at the downward channel, you'll see that the last time price went above, ended up with a mark down. It's way too risky to buy here right now. This is a bull trap at it's best. So, let's review my bullish case; 1- Break the triangle (and make sure it's not a bull trap) 2- Break $37k 3- Break $41k Even if the triangle looks like being violated, it just means it's in the overbought territory. Whenever i bought the overbought condition, i lost. Instead, i'll assume this violation is a bull trap and wait for the next oversold condition which is below 22k! That's 35% down from current price and once it reaches there with a climactic action, it won't stop until everyone believes Bitcoin is dead. Why have a nightmare? So, here's the scenario i'm buying; Given we are in redistribution, not accumulation; 1- This current moment is last point of supply (LPSY) 2- Markdown will follow down to December 2020 lows at $17.500 3- Start sideways accumulation verified with net buying activity on the volume profile 4- The spring event occurs and verifies with change of character, stong volume 5- I buy (Else, i wait for another drop) 6- Price rallies to 80k in November 7- Evaluate sideways action whether it's distribution or re-accumulation. 8- Sell with 4x profit if it's redistribution, else ride until 100k and above! Why 80k? Read my recent analysis: Ofcourse it's too early to give price target, we will need to calculate the horizontal count during the real accumulation and adjust our estimation, but so far this is what i can say. Until then friends, i'm sitting on cash enjoying stable daily interest. DON'T FOMO, you can always buy later.
Short
by BitcoinMillio18
55
NFLX Low Risk Short PositionNFLX has been trading in a range for many months, as we can see by this weekly chart here: Stochastics on the daily chart are showing it as heavily overbought, with an RSI of about 85, likely in anticipation of earnings which come out in 6 days. Historically, NFLX sells off about 80% of the time post earnings, usually quite steeply, with an average sell-off of between $50-60 dollars within the week that follows earnings. Here's a daily chart with stochastics visible: Barring a few temporary outlying moves to the outer extremities of its range, I believe NFLX will either: 1) Push up towards and then reject at the $566 level and then retrace back down towards $515.00 post earnings. 2) Falter post earnings and retrace to more "typical" RSI and stochastic levels prior to earning hitting. 3) (Hopefully not) push outside its trading range (difficult to imagine this scenario actually happening) and form new highs above its existing range. I am currently in an Iron Condor on NFLX with 570 and 490 short strikes. It is leaning bearish at the moment, but a move back down downwards 515 and a crush of implied volatility will substantially help my position. I believe both are likely to happen in the current market environment. -------------- If you were to enter NFLX short, you might consider it around the $566 level, assuming it pushes that high. You could accomplish this with a call credit spread which would give you the benefit of IV crush, assuming volatility decreases (which it would, if the price fell off steeply.) You could also take a bearish debit spread, but that will struggle with volatility collapse as it's a BTO position. ------------- Whatever happens, I'll be curious to watch NFLX as it develops. I do not think it's current price behavior is sustainable.
NASDAQ:NFLXShort
by PureDelta
4
NVDA Crash Coming? Big Sell Opportunity? 600 incoming??Ive been looking into two stocks recently, NVDA and SPY, and they both look extremely overbought. I mention SPY only because NVDA is apart of the S & P 500, Ill upload my SPY short analysis soon. However if you look into the weekly chart on the left it has broken out of an of what appears to be an already overbought channel. This channel dates back to 2018, where the MFI indicated overbought before a major dip under the 200 MA. Looking at where its at now, its above the channel where it was deemed to be oversold in 2018. Looking at the daily chart on the right NVDA has been riding up the Bollinger Bands for the past month at an almost unsustainable rate causing the bands to have a range from $610 to $770. This is dangerous for the stock so all traders should trade with caution. the MFI has just flipped downward which shows the money flow is starting to decrease, as well as the stoch RSI. The stock is also getting far from its 50 MA which is at $635 at the time of writing. Lastly looking at the fib retracement have broken past the 1.618 level. From 540 in May it has went straight up breaking threw 7 levels only retesting the .786 level at $625. Not to mention its up over 100% over the past year and even more since the corona crash. I predict the 1.618 level wont hold for long and we should see a $650 NVDA in the near future, that is where we topped on April 15th, the 1 level on the fib retreacement, and around where the 50 MA should be soon. If it doesnt hold strong on that level we should be retesting the .786 level where it showed strong support flipped resistance before breaking through. If it doesnt hold around the 625 area then it appears the strongest level of support is the .5 level around 593. This could take a few weeks to develop. Trade with caution!
NASDAQ:NVDA
by anamaly
20