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Overbought

IOSTUSDT | S/R Flip | Volume Climax | .618 Fibonacci Todays analysis - IOSTUSDT – retracing after a strong breakthrough structural resistance. Points to consider: - S/R flip Re-test - Support confluence - 55 EMA – visual guide - Volume climax - Oscillators overextended IOST is likely to retrace back to structural resistance after a bullish pattern break, S/R flip needs to hold for a valid long trade. Structural support in confluence with .618 Fibonacci retracement further solidifies the true trade location. IOST trading above the 55 Exponential Moving Average, acting as a visual guide, price must hold on retest to support the bullish bias. Volume climax evident, indication of buyer exhaustion, temporary top may be in as price finds its equilibrium before another probable impulse move. Both, the RSI and Stochastics trading in overextended conditions, a retrace in price will allow oscillators to cool off, creating space for further bullish momentum. Overall, in my opinion, a long trade is validated on a successful S/R flip re-test. What are your thoughts? Let me know in the comments below! Be sure to leave a like and follow me for daily chart updates. As always - focus on you, and the money will too!
Long
by Kudiiee
30min timeframe RSI bot works!:)I decided to put my money where my mouth was, and trade based off the RSI. I made a BOT that would trade LTC off 30 and 70 Low and high RSI. It would buy at 30 rsi on the 30min and sell off the 70. It worked...but it could have done better. It would buy then the price would drop lower and then come up or sell and the price would go up and then come down. It had a very sensitive trigger in other words. But it saved itself a few times and sold right before a drop and didn't see any massive losses. I think, the worse it saw was -.61% and after a month it is at 6.8% gains. All use stop loses and this is not ADVICE This chart are my sales. I made fewer sales to catch a higher or lower price. It's a solid process and I think using leverage I might be able to capitalize on it.
COINBASE:LTCUSDLong
by UnknownUnicorn5174798
1
Support zone & Sideways moving comingThe upper line of the channel should be support zone beside that it could reach 1.2450. So I wait for one more upside movement to a little new high to 1.2660 - 1.27 resistance. And after that coming a backtest once again so we should prepare for sideways trading. My view is on the Elliott pattern. I do NOT like the pejorative phrases like OVERBOUGHT/ OVERSOLD in the trend, but in the sideways movement, I take the overbought/oversold situation seriously in bounded indicators like RSI, Stochastic etc. So if I am right in the sideways view then Overbought will create a falling and vice versa.
Long
by MoodandMarkets
CADJPY NEEDS A BREATHER OR NAH?HELLO ALL, BACK IN MAY 23, I POSTED ON CADJPY MOVING HIGHER AFTER THE DROP AND THE PAIR ROAMING AROUND THE WEEKLY SUPPORT. SINCE THEN CADJPY HAS HAD A NICE BULL RUN. NOW THE QUESTION IS, DOES IT BREATHE AND RETRACE OR CAN IT KEEP GOING HIGHER. THE WEEKLY SHOWS THE PAIR MORE THAN LIKELY MOVING HIGHER TO ITS WEEKLY TREND LINE AT ABOUT THE 84.00 AREA, AS IT STILL HAS ROOM TO PLAY INSIDE THE WEEKLY RSI. DAILY SHOWS THE PAIR SITTING RIGHT ABOVE THE .618 FIB. 4HR CHART SHOWS THAT IT HASN'T MADE A CLEAR HL YET AND HAS HAD AN OVER EXTENDED RSI WHICH MAKES THINK THIS PAIR WILL RETRACE. MY VIEW AND OPINION IS THAT THIS PAIR WILL RETRACE TO THE 79.40 - 79.20 AREA BEFORE MAKING A PUSH HIGHER. LOOK FOR PRICE ACTION AND FUNDAMENTALS. GOOD LUCK TO ALL! PLEASE GIVE A THUMBS UP IF YOU LIKE AND COMMENT YOUR IDEAS AND OPINIONS, THANK YOU!
Short
by ThreePillarsTrading3
GBPJPY ready to drop again?????????Following on from the previous impulse move tot he downside where GBPJPY extended to the -0.272 Fibonacci level, we are now seeing a retracement. Watching the 0.5 Level of the latest impulsive move down, along with the red parallel channel formed from the April 30th highs. Will wait for confirmation on 1 hour timeframe before entering. Price has already moved well past the daily ATR range. Speculators have added to their long positions on the Yen by a considerable margin whilst the Pound remains relatively flat. If you have any ideas supporting or on the contrary to my opinion please leave a comment. Thank you and happy trading :) Disclaimer: This is not financial advice.
Short
by EireTrade-Capital-Management
BTCUSD - Downtrend Today. Price Technical Analysis #75Market in last 24 hrs - BTCUSD price saw a gradual upward movement. Market moved ~950 points, between $9k and $9.5k - Price at time of publishing: $9,715 - BTC’s market cap: $177 Billion Today’s Trend analysis Price should trend downwards today. Oscillators are neutral with a bias towards ‘sell’ side. MACD is at 140, far above 0. Both RSI and CCI are in over-bought zone, indicating that a downward momentum has built up. Another interesting point to notice is the affect of Halving-Hype and the impact of the same on BTC and other Crypto tokens. We are observing an increased trade volume and price volatility. - Downwards today - ‘Oscillator‘ indicators are mostly neutral, with bias towards sell side. RSI crossing down 70 - ‘Moving average‘ indicators are indicating a uptrend. Ichimoku Cloud is neutral ---------------------------------------------------------------------------------------- The analysis is based on signals from 28 technical indicators, out of which 17 are moving averages and remaining 11 are oscillators. These indicator values are calculated using 4 hr candles. DM to get details of the above analysis and list of indicator & their values used to arrive at the above conclusion. Note: Above analysis would hold true if we do not encounter sudden jump in trade volume . ---------------------------------------------------------------------------------------- If you find the analysis useful, please like and share our ideas with the community! - Mudrex
COINBASE:BTCUSDShort
by Mudrex
5
Time to offload the techs?Less than two months ago, I suggested it was okay to buy TECH ETF's (they'd reached an earlier target I'd published). One I highlighted, the XIT (Canadian) has climbed dramatically and now that it's largest holding, Shopify has a market cap bigger than the Royal Bank of Canada, I figure enough is enough. After all it would take a very long time indeed to earn 50% in bonds at these interest rates. A bird in the hand. The sector is back to where it was before the meltdown...i.e. overvalued.
TSX:XITShort
by malvinspooner
2
AUDUSD - EASY Resistance Pullback Setup - Trend-Change possible?Hi Traders! The market is in a Ranging Condition. The Levels the market is moving in between are the Resistance at 0.64700 and the Support at 0.63700. If you use Multiple Timeframe Analysis, you can see this: The market is moving is moving upwards, but the market just broke the Trendline. Now the market is moving under the Trendline. It did not made a new higher high, so a Trendchange is possible. Furthermore the market is now at a Resistance; the market even made a doji. Some other red candles are appering too, sign for bearish price action. In addition the Stochastic is overbought too. If you zoom in you can even see a crossover. We recommend to trade carefully, because the Uptrend is still valid and we're selling! Thanks and successful Trading :)!
Short
by swissmoneymakers
1
BTCUSDT 1D | Bitcoin price overview: Upcoming CorrectionBitcoin has been rising in the eve of halving for the last few days, with a maximum of $9,450. Three consecutive price peaks were formed on the chart, combined with three descending peaks on the MACD. The RSI is in the overbought zone, which indicates that the price is in the process of being corrected. In the coming days we should see the price correction in the support zone - $8,600, and if the bears succeed to expand the attack, their target may be 8,000. Subscribe to the channel and watch the situation in the bitcoin market!
Short
by CatalystsFinance
1
Chipotle overbought after earningsChipotle saw a hefty jump after topping earnings estimates earlier this week.
GoNoGo Trend indicator gave a “GO” indicating the environment was bullish for the Mexican grill on April 14th, when prices were around $785. However, note that there may be a little consolidation or minor correction here as this week’s action has caused the GoNoGo Oscillator to rise to an extreme. This means the stock has become overbought. With the price where it is, GoNoGo Charts is showing a red, short term correction arrow on the current, daily, bar. This suggests a possible correction within the trend, which at the moment is a “GO”. If this is confirmed at the close of the session, look for price to struggle for a few days.
NYSE:CMG
by GoNoGoCharts
3
Overbought and oversold on XRPBTCUsing the Williams R% oscillator indicator since July 2019 we can see overbought and oversold states on XRPBTC. Here are two types of vertical lines: greens and orange. The green lines are the moment when the position should have been open and the oranges when it should have been close. The arrows show whether price should have risen or fallen according to the indicator. The conservative signal for a long position is when the line breaks up the bottom dashed and the -50.00 line. The signal for a short position is the mirror. At this time, the signal is for a long position from 27 Mar until the line breaks down the -50.00 line again. Note: Stop loss and take profits are only illustrative. Chart: D
Long
by Manuelsilvat