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Overbought

SHORT Signal: YFI is overvaluedYFI has gained x10 over the past few weeks. it just recently got added on Coinbase which is a home for most retail traders so it pumped EVEN MORE! and that happened after a short break! In my opinion, this market has to CALM DOWN! It's not like this can rise forever and the way it rose is NOT NORMAL. Many investors are eventually going to take their next step which is CASHING OUT!. Think smart before buying. Many retail traders will get trapped by this while all you gotta do is DUMP IT!!! Stop: 41000 Enter: 34000-36000 TP: 18000-21000
by MarketSniping
8
D1 Downside Favored (Short Term)! Triangle PatternUntil recently gold has been making considerable movement to the upside with no significant retracements. We are now seeing the bullish run slowing down, failing to create higher highs and creating Lower highs (LH). It can also be seen that price has not been able to break below the $1900 psychological level. Therefore, based on price action, if we see a break and close below the 1900 level, it is quite possible to see the 1800 level exposed. I will be looking for a break and retest of 1900 and a valid entry reason before i can enter any position. If a valid entry does not present itself. i will not be taking the trade.
FX_IDC:XAUUSDShort
by lefergs
Special Analysis: Are you prepared for the Euro crash!!!Hello everybody, in this special analysis, I see a nice opportunity that maybe Euro is weakness the trend!!! Because we could see a bearish season. Now, i share you my screenshoot for you, because we could see a possible USA recovery for the next days between weeks. First, we see in Daily that Euro is weakness boughts and we are in the strong resistance at $1.18 that was broke up, but in that case we could see a sell off of Euro as US is into the recovery for the past speculate news that I discuss with you. Now, this analsyis of Daily is a key important to find up a medium term profits. Now, this is an weekly analysis that we broke up the red resistance, obvously this red resistance is a weekly zone, and it's could be a go back below as rejetion, because as we are in the bullish channel, we could to end the boughs and startind the bearish season for the next days as I predict. Finally, as I add the 3 day charts, we see a possible drop of the price in medium term, also the RSI show a pull back in the 80 parameters and that confirm an exactly point to find down sell off. Now, I share you my fundamentals keys for you: 1. Euro rises above key $1.20 USD level for first time since May 2018 Now, if you see Euro is go up so much, but need to make a correction before to continue up with their bullish trend. Also, using the Fibonacci we could see two scenarios at $1.16 USD and a possible to reach at $1.1550 USD, So, my objective is simple find down 330 pips, its a good bussiness and profits to earn down.
Short
by harisonhbn9718
2
BANKNIFTY Weekly Review Banknifty Monthy - Banking Index held its previous month low and also surpassed the previous month high and I am hoping it be closing above the previous month high tomorrow, and if it does and it is going to be a very good monthly closing, indicating likely continuance of the recent up move. Banknifty Weekly - On Weekly, it formed a Big Bull Candle closed near it high, such types of candles as good support, hence for this uptrend to continue, the index should hold and trade above this candle low i.e 22410. Banknifty Daily - On Daily, you can see, from many trading sessions, it has been forming candles with higher highs and higher lows, and Friday candle is a big bull candle closed near it high, Such Big candles when formed after a good move, often indicates the prices are overextended and it might rest for a while or retrace some part of it. There is also a crab pattern formed on the daily chart suggesting a resistance around 24560-24660. Price action near crab resistance is usually wild, by wild, I means you can see spikes, large movements in the prices in any direction. So if the market opens flat or gaps up tomorrow, it might also test 25150 on the upside or the support levels mentioned above. Conclusion: Trend is up on all time frames, it's a buy on dips on the market because it is always better to trade in the direction of the trend. Currently, the prices look extended on the daily chart and any dip would likely be absorbed quickly. Immediate support is around 23590 and 22980 levels Disclaimer: Being a trend trader, I won't be trading any index tomorrow, will wait for it to get settled.
NSE:BANKNIFTY
by manuagarwal21
3
NOG is worth a gambleNOG is a oil and gas company in Minnesota, which is an interest stock that poped up on r/pennystocks and think it might be worth to toss in some money into it. It hasn't perform well at all, yet the reason for this gamble is that the election is coming up and Republicans are pro oil and gas as further green technology is being developed, yet the Democrats want to go full green with their green new deal which could destroy the oil and gas and company. News -Elections are coming up this November for the US and Minnesota is a key battleground state. It was Democrat in 2016, yet this year its classified as a battleground state and following 2016 Democrats won with a 1.5% margin. Pretty dam close. Current polls shows that biden was winning by 18, yet now only 2. Source: projects.fivethirtyeight.com -ER wasn't great, yet could be due to fact of the covid 19. According to USAtoday as of 8/25, Minnesota is growing in the number of cases. TA -Now the upside potential out weights the downside with .6377 being on the table which is a 8.6% drop in price. The upside ranges from 5.7%-50% in the short term from tagets of .742, .8515, and 1.0494. -This stock is in a long term downtrend, yet high vpvr shows a range of .742-.8515 would be in the realm of possibilities and could be a nice short term trade. -MACD is rising which is bullish -RSI is just overbought, yet could be overcome with sideways movements or extreme volatility coming soon. Final Thoughts My political view has no affect, yet I would assume a Trump victory would push this stock higher or lower. Whatever party you are a small gamble in a small oil and gas stock from a battle ground state wouldn't be a bad idea. I took a position in this stock today just to see where it goes when we get close to the election/debates/ and after the elctions. If movement starts going up showing massive buys you could suspect the oil sector will being pushing up rapidly. So in the meantime watch the polls, if they are even worth to watch after 2016, to see who Minnesota favors and watch tweets from Trump about Oil and Gas.
NLong
by nathanielx9
BTC OVERBOUGHTBelow you can see 4 indicators pointing out that BTC is currently overbought. Take a look at my previous post to see what indicators I use and what they mean. At this point we will have to see how the market responds to BTC being overbought. What happens often, is many traders use this as an indicator to sell. That is why we need to keep a close eye on the Balance of Power, the second blue lines chart. If the value is in the negative more frequently, we can understand that traders are using this opportunity to sell in overbought territory, then we can expect a bear run. However, if the Balance of Power is above 1 more frequently, the buyers are still in control and we can expect a bull run. Keep watching the Balance of Power ! Hit like if you found this helpful. Thanks, Ev
BITSTAMP:BTCUSD
by BlockTechEv
15
Bitcoin: Tripple Top: Bearish Movement!!!Hello, the latest analysis was cancelled to take other confirmations, for now, we see that bears want to sell Bitcoin, guys, that is another point to take noticed it, tripple top it's mean a change of trend, in tat case is for micro-trend. So, we see a tripple top in H1 timeframe with a possible entry in short in the $!1,870 USD, its confirmed. So, beware to put longs position in Bitcoin The trend could be influence in Daily that we are overbought and bears want to sell Bitcoin at below of $!2,000 USD as key resistance in weekly
COINBASE:BTCUSDShort
by harisonhbn9718
2
OVERBOUGHT!! - Add to watchlistAlthough a good stock to add to the watchlist, it is currently overpriced. I would like to see this get below the 80MA which according to the Williams% chart, tends to be when the stock is oversold. HUBS currently needs a lot of movement to get down to the 80MA, set alarm up crossing the $200 and watch daily from there moving forward. The green area is an up trending resistance zone which has been recently tested, will it breakthrough the resistance? There's a good chance it will however I'm hoping for a correction, where speculators can potentially buy in around the $225 mark. I personally won't but I don't like to speculate or take the riskier approach.
NYSE:HUBS
by Eggbertus
BTC/USD: Parabolic rise must cool downIt's true that bull markets can take you by surprise and be irrational for longer than you expect. But it's also true that parabolas don't last forever. This rise to 11.4k was parabolic. Bitcoin got more overbought on the daily, by my own calculations, than at any time since April 2019. The last time it hit these levels before that was Oct 2017, and only for one day each time. So (it seems to me) one of two things must happen, on a daily timescale: 1. A retrace to some kind of support level, like the local ones highlighted in green on the chart, or at least the 0.382 or (much) better the 0.5/0.618 Fib retracements, and then continuation. I just don't think the quick touch of 10575 is enough. I could be wrong. 2. A sideways corrective pattern for a few days, like a flag but not necessarily that obvious, during which we get a daily oversold signal (probably just one) on my Price Action Trend | Simple indicator. I'm totally bullish on Bitcoin and will long the heck out of either of these two when they occur. Let's not forget there's also the CME gap, highlighted in yellow on the chart. Note that while I believe it's overwhelmingly likely that this will fill on the BTC1! chart, a spike down there wouldn't necessarily match the price on other exchanges, so you can't translate the exact levels. Finally, since everyone and his dog are now bullish, we can't rule out a good old-fashioned stop-hunt. #notadvice Trade safe, everyone.
Long
by SimpleCryptoLife
Wayfair: Chart Overextended and Price way beyond FundamentalsYou can see that selling on the upper red line has rewarded shorts in the past and I believe that this is a great short opportunity here - one of the best i have ever seen. We have got way over extended and fundamentally the price is just way too high for a this company, even with the 'shopping online' narrative that has been done to death. Overstock is the much better company in reality. Margins are just too small for furniture and you only have to read Wayfair reviews on the likes of Trustpilot to realise how poor their products are. I think we should at the very least see a retrace back to the 250 levels here.
NYSE:WShort
by TheZenDegen