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Overbought

EURAUD: Strong Supports; Ready for Bounce?EURAUD Timeframe: 1D Direction: Long Confluences for Trade: - Stochastic Overbought momentum - Too wide of a divergence for 8 EMA and 50 EMA - Price close to Strong Horizontal Support (since Feb 18) - Price close to a Support Trendline (previously resistance; since March 18) Suggested Trade: Entry @ Area of Interest 1.5610 - 1.5670 SL: 1.5542 TP: 1..5884 RR: Approx. 2.89 (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.
Long
by weekendanalyst
AUDCHF (1D): Strong Rejections for a Sell AUDCHF Timeframe: 1D Direction: Short Confluences for Trade: - Bearish Engulfing Candle (Daily) - Stochastics Overbought Condition (1D) - Rejection of 50% Fibo line - Rejection of Horizontal Trendline (since Feb 2018) - Price action reversed against Resistance of the Parallel Channel - Fundamentally, AUD is pressured downwards with the growth concerns lingering around China and trade war issues not resolved. The CHF will most likely continue to act as a safe haven pair if market volatility remains. Suggested Trade: Entry @ Area of Interest 0.7245 - 0.7330 SL: 0.7367 TP: 0.7057 RR: Approx. 2.04 (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
EURCHF (1D): EUR Event PlayEURCHF Timeframe: 1D Direction: Short Confluences for Trade: - Bearish candles formation - Price rejected Resistance Trendline (since May 18) - Horizontal Resistance Trendline (38% Fibo level) strong - Price broke the Short Term Trendline (since Sept 18) - Stochastic Overbought momentum - Fundamentally, Italy supposed to provide EU with a revised budget this coming Tuesday but from the likes of it, unlikely there would be any revision. The continuation of this budget issue will only make Italy's budget deficit worse with the Italian bond yields spiking higher. Suggested Trade: Entry @ Area of Interest 1.1370 - 1.1430 SL: 1.1497 TP: 1.1191 RR: Approx. 2.00 (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
USDHKD (1D): Take Advantage of the PegUSDHKD Timeframe: 1D Direction: Short Confluences for Trade: - Pegged currency, strongly defended at 7.85 (Limited risk; any break above the 7.85 levels is gonna be a crisis issue) - Stochastic Overbought momentum - Not directly related but Double Top Resistance for the DXY, helps support the drop in USD strength Suggested Trade: Entry @ Area of Interest 7.8365 - 7.8499 SL: 7.8573 TP: 7.7935 RR: Approx. 2.91 (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
USDCHF (1D): Short Opportunity at Triple TopUSDCHF Timeframe: 1D Direction: Short Confluences for Trade: - Approaching Double Top Resistance to create Triple Top - Stochastic Overbought momentum (Weekly and Daily Charts) Look for ST trendline break in the internal triangle to get further confirmation as currently, the market situation is very volatile. Suggested Trade: Entry @ Area of Interest 0.9970 - 1.0050 SL: 1.0113 TP: 0.9740 RR: Approx. 2.30 (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
1
USDCAD (H4): Resistances in Play; Look to ShortUSDCAD Timeframe: H4 Direction: Short Confluences for Trade: - Price at Resistance of MT Trendline (Since June 2018) - Price at Resistance of Asymmetric Triangle - Price at 78.6% Fibo Retracement levels - Stochastic Overbought momentum Suggested Trade: Entry @ Area of Interest 1.3055 - 1.3148 SL: 1.3233 TP: 1.2858 RR: Approx. 1.80 (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
BTC/USD: High volume and overbought doji theoryUsing the Coinbase Dollar pair for sanity sake, a fresh look at the charts. The USD charts are still real. The price has so far mostly sold off from the daily highs and resistance level of $6,800. Similar to in summer, October 15th has already seen high volume (16k) and will likely surpass August 22nd The correction for the day will likely continue further towards $6,200 support, as uncertainty regarding USDT continues. The 10% temporary but high volume price spikes are circled in pink, reflecting a similarity worth considering. Pink line is the extrapolation of the August 22nd bounce in price showing a target of $7,200, if history were to repeat itself. A lot is also dependent on WTF Tether is doing.
COINBASE:BTCUSDLong
by dragononcrypto
Overbought Short Opportunity EthAs you can see on the two downward upper and lower trend lines I called a short opportunity when ETH/USD was hovering around 242. Looks like that was the right call and it went down to 215. Would have been a nice little profit I would say. Now we are nearing overbought again comparatively similar to the last call considering the trend lines and where the price action lies at the moment within the trend. This could be another short opportunity. However the MACD is meddling with a cross which may signal that waiting for confirmation may be best. Lets wait and see if this gets rejected at 240. If it goes to 244 its a buy. If its rejected at 240 and we bounce back down to 237-238 its a short opportunity.
BITFINEX:ETHUSD
by ChristopherCook