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Overbought

WTI: USOIL Still on Target for 86.33 but overbought near-termWTI USOIL After consolidating off the 66.48 line but never threatening long stops under here WTI has pushed 550 pips and more higher to 72.28 so far. It's a little overbought in the near term and looks like it will consolidate back to 70.69 and then bounce 150 pips or so - and then come back again, doing so 3 or 4 times before it pushes higher still. The overall trend is still positive and will remain so as long as 70.37 holds in the near term and at the worst the 69..48 line holds up on any retests from here. Swing traders can leave long stops below here and let it run for now towards 75.28 and eventually to 86.33 (which is the minimum upside target created by the reverse head and shoulders on last update).
TVC:USOILLong
by sumastardon
[LTC-USD] BREAKOUT-EXHAUSTED-OVERBOUGHT!LTC had a beautiful break out of about 24% in just 5 days! Wow.. that was really nice. I hope we can see more like that soon. This bullish sentiment is on fire, now, and I can see both American , European and Asian markets finally all collectively work together in team play moving up the volume and price action of all crypto across the board. What a relief! Finally, we have some nice price action after 4 months of bearish activity since Jan.. LTC is completely overbought and I am not touching this until it corrects again between $161-171 PS. This is not financial advice, this is only for education purposes and I suggest you perform your own TA. If you learned even just one thing from my video then, please support me and give a like and feel free to follow me to see how I profit from my trades! Thanks CryptoBuzzAnalyst
BITFINEX:LTCUSDShort
by CryptoBuzzAnalyst
11
1] How to use Traders Dynamic Index and Complementary OverlayTraders Dynamic Index serves for crossover signals and are essential for trade entries and most beneficial when identified on over 30-minute Time Frames as on hourly time frames. I have made the options available of the oversold (green) 32 level line overlay which is useful in identifying potential buy zones/price. In KK_Traders Dynamic Index_Bar Highlighting it is also good to note that in uptrends : RSI ranges between Upper Volatility Band, Lower Volatility Band and/or relatively "within" 68 and 50 level lines as it has been doing on hourly time frames on Bitcoin. Direction and deviation of MBL overlay or Phaser from price is strong indicator of trend direction and price level/zone useful for those who are confused in knowing where price will have to average into. Promoting free and highly useful Indicators: KK_Traders Dynamic Index_Bar Highlighting Traders Dynamic Index Overlay "Price Action Channel Master by JustUncleL Restored" _______________ I had not used these guides recently which I have currently published. If anything (I ever do publish) varies contrary to these indicated guides and the coming guides to be published, the likelihood of failed forecast is augmented.
BITSTAMP:BTCUSDEducation
by YardleyRosette
[ETH-USD] ETHERIUM OVERBOUGHT! SPRINT OVER!ETHERIUM: SHORT TERM Etherium is finishing its 4th leg on the elliott wave cycle making its way up to test the $877 Resistance. Notice the BULLISH signal on bottom that was given on April 11th, 1700 hrs which is a GOLDEN CROSS on the 2 hr chart where the 50 day MA crossed over the 200 day MA.. That was the perfect signal to go long. However, despite the great news, Etherium is SO OVERBOUGHT and needs a correction and pullback to remain healthy and strong! Volume is progressively great but in the short term precisely right now, I personally would not touch Etherium, since I see it pulling back with the average correction being about 10% down. Which would put you anywhere between $605-$625 where the 200 MA acts as support at the worst on a short term few days thru 2 weeks. In conclusion , short term a rising ascending wedge is observed being formed which indicates a BEARISH SIGNAL and Both my short term and long term TA signals confirm a reversal is imminent and way overdue any day now! ETHERIUM: LONG TERM Looking at the 1 day chart below, we can see that Etherium was about $360.80 at its lowest point April 04,2018… In 29 days it has practically doubled with a growth of 93%. Wow! That is really good for Etherium investors ! What has helped Etherium is that since April 03rd, 2018 the market cap for Etherium has nearly doubled. On April 25th, according to coinmarketcap.com the 24hr volume even reached 4 billion which was awesome! This is all great bullish news in under 45 days. Signifying the bulls have taken over for Etherium! So what kind of obstacles are ahead for Etherium long term? Well for starters, its OVERBOUGHT right now and is due for a correction any day now. It has had a nice upside for 28 days straight, and the RSI is showing the buying pressure is slowing down and has started to correct. The OBV shows it consolidating for at least 5 days! The Chaiken Money Flow, CMF shows an arch, showings signs of decline on money flow. MACD , is still positive for small growth. The highest it would go in the next 10-15 days in my opinion would be testing the resistance at 38.20 fib retracement level at $861-$877 which I believe would FAIL, without "substantial" volume to break thru. Refer the the day chart below, but it's obvious to me that Etherium will be ranging between the 100 and 200 day moving averages. If it drops to the 50 day MA it would demonstrate a sign of weakness with a good buying opportunity for those were left out at about $534 being the bottom for time being if we remain with a market full of restored confidence! The most I see, with Etherium for the next 7 days is minor growth then, consolidation with an imminent dump long term ranging from a 12% thru 25% negative correction where the 50 day MA will hold as a support line at $519 PS: This is not financial advice and only for education purposes. Perform your own TA! This is only my opinion and should not be construed as financial advice. If you learned even one thing, then like my TA and follow me to support my channel. Thanks CryptoBuzzAnalyst
COINBASE:ETHUSDShort
by CryptoBuzzAnalyst
End of the Bull Run or just a Correction?We've had a really good run over the past 2 weeks. Obviously we were over extended and due for some kind of pullback, but the 200 day MA acted as strong resistance once again. Overall this is a bearish sign, however, due the length of this bull move we could just have a correction and then attempt to break the 200 day MA once again. If we can break this point, then I will be bullish up to 11800, which is the next major resistance zone. I still am under the impression that BTC has too much over head resistance at this point to turn completely bullish. If we can start using major resistance points as supports, then I would become more optimistic on the potential of a trend reversal. Clearly we are still within the bear trend, but you also can't ignore some of the bullish strength that's been displayed. But we can't simply go back up to 20k at this pace and I feel like it will be a long winded battle between the bulls and the bears. We will see though.
BITSTAMP:BTCUSD
by kickflip360
[EOS-ETH] EOS-ETHERIUM KILLER ROCKS!Closed my position on this trade. Took a nice profit of 81.85% from this swing trade in 5 days. This was nice. EOS is completely overbought in my opinion. It has already sold over 12% and I believe will start dumping hard. EOS is considered to be the etherium Killer! This block chain in my opinion will rock into the future very well! PS This is not financial advice. Do your own TA, give me a like and support my channel if you like my content! Thanks CryptoBuzzAnalyst
by CryptoBuzzAnalyst
[BTC-USD] SENTIMENT ON STERIODS! OVERBOUGHT!Bitcoin has been organically bullish since April 17th, 2018, which is where I'm personally declaring the bullish trend has possibly started! As I mentioned, I like organic growth. I despise, whale & HFT pumps on any crypto and I never account for any of that to be real on my technical analysis. As much as I'm a bear, the high volume in the last 5 days is proving directly to me this is definitely turning around! Remember, I keep many spreadsheets on excel and have a lot of formulas set up with projections on price action from a mathematical standpoint. I am not a mathematician, but I did graduate in Architecture and have an engineering construction management background. So, I can get very technical if I need to be! I keep logs on all my short day trading and have a 83% win ratio. The feedback I'm getting from some viewers is that my overall accuracy is about 50%, which is guess is good. I have no idea how they came up with that percentage. lol.. The general sentiment of BTC is super high right now. People have been waiting since Jan to make some money..I believe people are too desperate to make some money, and that is why you should be careful of your entry points. Its all about psychology. Don't follow the sheep and join the FOMO! You could loose a whole lot. Wait for confirmations! But the lowest entry point i made was at $6,700. If you missed that one. Well here is your next best entry point considering how bullish we have become in the last 5 days. My next entry point should be around low 8000k as discussed on my video here! As I mentioned on this video , VOLUME to me supercedes anything! Without Volume , there are no solid bull rallies! Remember that your risk reward ratio should be no less than 1-3.. I always shoot for higher if I'm going long! Too many traders take extremely short term risk and don't even know how to account for risk /reward ratios. Good Luck till my next video! PS. This is not financial advice, you must perform your own TA. This is very educational purposes only! Thanks, give me a like if you enjoyed this video and follow me to see how I consistently profit in crypto. CryptoBuzzAnalyst
COINBASE:BTCUSDLong
by CryptoBuzzAnalyst
2
GBPJPY 1H - SWING TRADING STRATEGY THAT WORKSStep 1 Wait for the price to touch the Upper Bollinger Band The first element we want to see for our simple trading strategy is that we need to see price moving into overbought territory. Any swing trading strategy that works should have this element incorporated. Note The preferred time frame for this simple swing trading strategy is the 4h time frame, but the strategy can be used on the daily and weekly time frame as well. Step 2 Wait for the price to Break below the Middle Bollinger Bands After we touched the upper Bollinger Band , we want to see confirmation that we indeed are in overbought territory and the market is about to reverse. The logical filter, in this case, is to look after a break below the middle Bollinger Band . This break below middle Bollinger Bands is a clear signal in the shift in market sentiment. We at Trading Strategy Guides don’t trade breakouts without disseminating weather or that there are real buyer/sellers – in our case, sellers – behind the breakout which brings to the next step of our simple swing trading strategy. Step 3 Swing Trading Indicator: The Breakout Candle needs to be a Big Bold Candle that closes near the Low Range of the Candlestick. Sell at the Close of the Breakout Candle So far our favorite swing trading indicator has correctly predicted this sell-off, but we’re going to use a very simple candlestick based method for our entry trigger. In this regard, we want to see a big bold bearish candle that breaks below the middle Bollinger Band . The second element of this candlestick based method is that we need the breakout candle to close near the low range of the candlestick . This is indicative of strong sellers, which really want to drive this currency pair much lower. Step 4 We hide our Protective Stop Loss above the Breakout Candle The breakout candle has a lot of significance because we’ve used it in our candlestick based entry method. We assumed that this candle shows the presence of real sellers in the market. If the high of this candle were to be broken, it’s clear enough that this is simply a fake breakout as there are no real sellers. Step 5 Take Profit once we break and close back below the middle Bollinger Bands or with a 3 to 1 risk ratio. In this particular case we’re looking at a short trading example. So, if the price breaks back above the middle Bollinger Banks it’s time to get worried and take our profits as it can signal a reversal or if our 3 to 1 risk ratio has hit. The reason why we get profit here is quite easy to understand as we want to book the profits at the early sign the market is ready to roll over. Note The above was an example of a SELL trade. Use the same rules – but in reverse – for a BUY trade.
Short
by Tradingstrategyguides
HOW TO TRADE ETHEREUMEthereum Trading Strategy All we need for this trading strategy is two technical indicators: The MACD – This is a momentum indicator that can help us spot a trend. The MFI or the Money Flow Index an overlooked but critical technical indicator that measures the money flow into or out of a cryptocurrency. The MACD is one of the most common indicators used by traders around the world in a variety of different markets to spot trades before they happen. The MFI indicator is based on price action and it incorporates Volume in its calculation, which is quite similar to other oscillators. In other words, we can use the MFI indicator to measure buying and selling pressure. We can use the MFI indicator to trigger entries and to take profits. The easiest way to interpret the MFI indicator is that a reading above the 50 level represents an inflow of money into the cryptocurrency, while a reading below the 50 level represents an outflow of funds from the cryptocurrency. The other critical MFI thresholds are 20 and 80. An MFI reading of 20 is considered bullish and oversold while a reading above the 80 level is considered bearish and overbought. Step #1: Wait until the Money Flow Index drop below the 20 level The first rule is that you always want to wait for the Money Flow Index to be in oversold territory. In other words, we need to have an MFI reading below the 20 level. An extreme MFI reading below 20 suggests that there is very heavy money outflow from Ethereum. As history has repeatedly shown, this information can be used as a contrarian indicator. The MFI indicator is not a standalone indicator. There are plenty of good cryptocurrencies that have high MFI reading, and most bad ones have low MFI reading. So, in order to use the MFI indicator, we need to check it against other technical indicators which are the reason why we also use the MACD indicator. Step #2: Wait for MACD histogram to break above the zero level The second rule is to wait for the MACD histogram to turn positive. This is a confirmation that the bullish momentum is starting to build up. Now, we have two rules in place, but these are still not enough to trigger an entry. Indicator-based strategies are very unpredictable which is the reason why we’ve added another confirmation signal before to enter and buy Ethereum. Now, we’re going to lay down a straightforward entry technique for Ethereum trading system. Step #3: After MACD turned positive, Buy after MFI also breaks above the 50 level. As an extra measure of caution, we also like to wait for the MFI indicator to break above the 50 level before to buy Ethereum. A reading above the 50 level represents an inflow of money into Ethereum which is the moment when smart money is stepping into the market. We want to trade alongside smart money to really make a profit trading the cryptocurrency market. Step #4: Place Protective Stop Loss below the Previous Swing low In order to minimize our potential loss we want to place our protective stop loss very close to the market price but at the same time at a price where it should really invalidate our trade signal. For the Ethereum strategy, the ideal place to hide the stop loss is just below previous swing low. You can always add a buffer to protect yourself in case of a false breakout. Step #5: Take Profits when the MFI enters Overbought territory or above the 80 level When it comes to our Ethereum take profit trading strategy we want to cash some profits at the first sign that the market is about to turn against us. Otherwise, we risk given back some of our hard earned gains. The first indication that the market is about to turn is when the Money Flow Index enters into overbought territory. In other words, when the MFI breaks above 80 levels, we take profits. Use the same rules for a SELL trade – but in reverse. Ethereum has fundamental advantages that hopefully will help Ethereum price suppress Bitcoin in the coming years.
BITFINEX:ETHUSDEducation
by Tradingstrategyguides
Wabi: destined to bounceWabi is one of those projects that has a actual live product: placing secure anti-counterfeiting labels on consumer products mainly in China (think Chinese baby-milk powder scandal) but also planning to move more international. Wabi had a huge run down. RSI indicator on the daily went from overbought allmost straight to oversold where we now seem to recover. Also some horizontal support might be in play here. It is to early to call the bottem in, but at the least some nice recovery (30% potentially) should be in the cards here. Traders could go long here, investors with longer time horizons might wait for the break of the upperside of the downward channel.
WLong
by Crypto_Keiser