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Overbought

$SPY - Daily Chart Extreme Overbought & Parabolic Snapback Setup$SPY - our $283 level of resistance finally broke over with the market busting over and gapping up this week. Spy currently sitting at $288.26 at time of post. Highs of market are at $293.85. 7th green day in a row, constant gap ups making it hard to get day trades with market breadth sucked out before market opens. In individual names, I have been take about 30% less trades than normal. Longs my hold time is about 1/2 of what it was a few months ago. Always have to adapt and find the trend with market conditions. $SPY - expecting a pullback sooner than later with stochastics now at 90.17. Market is due for a breather and pullback to at least 9ema, otherwise other notable level is $283 area again (for tap off support). Have a great weekend coming up!
AMEX:SPYShort
by BullsOnWallStreet
BITCOIN IS RUNNING OUT OF GAS, A PULLBACK MAY HAPPEN SOONBITCOIN (BITFINEX:BTCUSD) is testing the upper border of the ascending channel. Two attempts were failed during the past hours. There may be another test, but with a high probability, a Pullback may happen soon. Reasons: Overbought / Resistance (Yellow) in 30 minute, and 42 minute time frames. In 15 minute, a Double Top Pattern is formed. MACD Divergence in 30 minute RSI has Lower Top. Hammer on the top of 1 hour time frame. There is strong support in 4130-4160, it is still too early to say if the support will work once more. If you find this idea reasonable, please like it, I appreciate your thumbs up. People who like will have a bonus of Four-Day free trial of -"9 Seasons Rainbow Multiple Time Frames Pattern STANDARD Indicator". If you love it, or if you hate it, leave your comment or your point of view. People who comment will have a bonus of one-week free trial of -"9 Seasons Rainbow Multiple Time Frames Pattern STANDARD Indicator". DISCLAIMER This is only a personal opinion and does NOT serve as investing NOR trading advice. Please make their own decisions, carefully assess risks and be responsible for your own investing and trading activities.
BITFINEX:BTCUSDShort
by go8686
2
WHAT ON EARTH IS CRAZY BOUGHT (LIME)?Overbought is well known by traders. But, what on earth is "Crazy Bought"? Before, it is hard to explain and let people understand "Crazy Bought". After two days' pump and dump, it should be easier now. Crazy Bought is a new term defined in "9 Seasons Rainbow Multiple Time Frames Pattern" Indicator, which is one of the 9 Seasons: Bull (Green), Bull Pullback (Light Green), Resistance / Overbought (Yellow), Crazy Bought (Lime), Neutral (White), Bear (Red) , Bear Bounce (Light Red), Support / Oversold (Blue), Crazy Sold (Fuchsia). Definition: Crazy Bought (Lime): Price is going up in a high volatility , could be a valid breakout, or a Bull Trap. Definition: Resistance / Overbought (Yellow): a resistance area , may become a Top, or be broken through. Evolution of Crazy Bought(Lime): When the resistance is broken through, Resistance / Overbought (Yellow) becomes Crazy Bought (Lime); When the price stays above the range area, it is a successful breakout, Lime extends; When the price rises to a new level and stays there, Crazy Bought (Lime) becomes Bull Pullback (Light Green); When the price falls back into the range area, it is a fading breakout, Crazy Bought (Lime) turns back to Overbought (Yellow). The value of Crazy Bought Signal for trading: When Lime appears in shortest-term time frame, Long at once. When Lime appears in medium-term or long-term time frame, wait for Long Signal in short-term time frame, whose ribbon becomes green, or using traditional MACD, RSI, STOCHASTIC, etc. When Lime becomes Yellow, close Long Position, or do Short trade. Lime in single ribbon is weak signal, Lime with specific Pattern has high probability for a profitable trade. (Please refer to other Tutorials about Pattern) Stop Setting: set Stop under the upper border of the range, leave some space from it. Market is complex, High Risk comes with High Reward. (For 90% of time) Resistance / Overbought (Yellow) normally means Bull is exhausting on that time frame, so it is reasonable to Short; however, some hidden whales can manipulate/affect the price suddenly, esp in small time frame. When a short position is open with Yellow signal, always be ready to close it when Yellow becomes Lime. Crazy Bought (Lime) normally means a breakout, so it is reasonable to Long; however, a breakout can be fading, so always be ready to close it when Lime reverses to Yellow. PS: I should have listened to the indicator, instead of my feeling. My latest idea "BITCOIN IS WALKING BESIDE A CLIFF", should be renamed to "BITCOIN IS WALKING under A CLIFF". However, according to my theory, it is reasonable to open short position, because the indicator gave Resistance / Overbought (Yellow) signals in 85minute & 170minute time frames. The problem is that, me, as the author of the indicator, didn't listen to the signals given by the indicator "9 Seasons Rainbow Multiple Time Frames Pattern". One hour before the 1K pump, Yellow became Lime on both 85minute & 170minute time frames. While I chose to ignore it, because my feeling controlled me: That day, I heart at least three experienced trader mentioned they were for Bear, which became a part of the source of my decision system; It was near mid-night, I was tired and want to sleep, so I was lazy to reverse my point of view; I believed altcoins move before Bitcoin, which is correct often, but not always. To believe in the feeling, or the indicator, is a choice. In addition, Crazy thing is good example of "High Risk comes with High Reward". For details of the other 8 Seasons, please refer to the indicator page: If you find this idea reasonable, please like it, I appreciate your thumbs up. People who like can ask for Three-Day free trial of "9 Seasons Rainbow Multiple Time Frames Pattern STANDARD Indicator" within 10 days since idea is published. If you love it, or if you hate it, leave your comment or your point of view. People who comment can ask for One-Week free trial of -"9 Seasons Rainbow Multiple Time Frames Pattern STANDARD Indicator" within 10 days since idea is published. DISCLAIMER This is only a personal opinion and does NOT serve as investing NOR trading advice. Please make their own decisions, carefully assess risks and be responsible for your own investing and trading activities.
BITFINEX:BTCUSD
by go8686
6
USDJPY Short - Bearish Bat Pattern, Dollar OverboughtAs the dollar reaches beyond 97, it is technically entering an overbought zone and may be vulnerable to selling pressure. So the USDJPY has climbed pretty much through the Asia session and stands above 111. A bat pattern is on its way to completion where the final point is expected to end in the supply zone around 111.50. Therefore, if the dollar continues to climb further into the overbought zone while the USDJPY climbs too to complete the bat pattern, we are expecting there's going to be some strong selling pressure.
Short
by AlgoVenture
Symmetric 3 Drives TOP 12H @ BTC/USDAll the choppiness was with the intent to create this perfect pattern and very symmetric 3 Drives TOP. Money Flow Index = Overbought level (Last time that happened was a very violent breakdown.) RSI = Overbought Levels This movement marked the beginning of 1 Week + 1 Month candle building the upper part of it. Which means it will remain to build the down-part of the 1 Week Candle + 3 weeks in which we can build the down-part of the Monthly candle. Fundamental Nothing has changed in the Market cap is the same as it was when it hit the same high's even now Altcoins are randomly pumping and dumping. April 26 - Rehabilitation Plan of the APPROVED claims from Mt.Gox creditors which is in the amount of 140.000 BTC & 140.000 BCH approved CLAIMS. Google Trends still in All Time Low trends.google.com (Weird people are shilling for Venezuela when Nigeria is No.1 Place for Bitcoin interest, land of online scammers) Technical So simple put everything is OVERBOUGHT at high levels. It doesn't have JUICE in it anymore for any big movements without a healthy correction.
BITSTAMP:BTCUSDShort
by SpawnyXBT
3
USDEUR IS OVERBOUGHT A DROP IS COMINGUSDEUR has high probability to drop, reasons: Overbought (Yellow) in 85m 2H time frames indicated by "9 Seasons Rainbow Multiple Time Frames Pattern PRO" Indicator; RSI Divergence Previous Resistance: 0.892 Previous ascending channel has been broken. Target 1: 0.884 Fib 0.618 Target 2: 0.881 Fib 0.382 Target 3: 0.873 Fib 0.236 STOP: 0.893 Some factor that against this idea: 1H Crazybought (Lime) means Bull has just overcome some resistance and is still strong, this may keep them longer on the possible Top. DISCLAIMER This is only a personal opinion and does NOT serve as investing NOR trading advice. Please make their own decisions, carefully assess risks and be responsible for your own investing and trading activities.
Short
by go8686
BITCOIN Rejected by Previous Resistance A Pullback is neededBitcoin (Coinbase:BTCUSD) has just been rejected by 4030 resistance, the same story happened 8 days ago. To challenge 4030 resistance again, a pullback is necessary, for the reasons: Overbought (Yellow) in 1H time frame indicated by 9 Seasons Rainbow Indicator RSI Divergence in 1H time frame. Altcoins are becoming weaker than Bitcoin: LTC, EOS, etc. A short trade on some altcoin with small amount may be amusing. The target: 3970-3990 There is possibility that Bitcoin go for next bull run before a pullback, but at least, I would not Long at this time. In this case, when it is rejected again, another amount for short can be added. DISCLAIMER This is only a personal opinion and does NOT serve as investing NOR trading advice. Please make their own decisions, carefully assess risks and be responsible for your own investing and trading activities.
COINBASE:BTCUSDShort
by go8686
[Signal] GBPCHF: Delayed Brexit is Positive? Nahh..GBPCHF Timeframe: 1D Direction: Short Confluences for Trade: - Stochastic Overbought momentum (1D, H4, H1) - Price action at Resistance of Parallel Channel - Price action close to Another Horizontal Resistance Trendline - Widening gap of EMA - Fundamentally, uncomfortable to hold a Long GBP position because of Brexit uncertainty; to us, a delay in Brexit transition is still going to be bad for the UK economy as corporates are not going to do any capital expenditure to improve GDP. Suggested Trade: Entry @ Area of Interest 1.3045 - 1.3165 SL: 1.3309 TP: 1.2602 RR: Approx. 2.56 (Depending on Entry Level) May the pips move in our favor! Good luck! :D *This trade suggestion is provided on an advisory basis. Any trade decisions made based on this suggestion is a personal decision and we are not responsible for any losses derived from it.
Short
by weekendanalyst