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🔥 RDNT High Probability Oversold Bounce: Amazing Risk RewardRDNT is one of the newer tokens on Binance, which naturally makes it more volatile than others. This volatility is risky, but offers great opportunities when used correctly. As seen on the chart, RDNT has hit hourly oversold on the RSI on a strong support area, which directly caused a bounce. For an optimal risk-reward, I put the target at 0.40, but you can take partial profits at 0.315 in case you want less risk. Stop under the recent swing low.
Long
by FieryTrading
2
🔥 CFX Oversold Bounce Trade: Following BTC Up!CFX has been one of the bigger winners of 2023. However, this token has been largely trading bearish ever since it topped late March. As of recently, CFX has hit daily oversold on the RSI for the first time in many months, likely causing some kind of reversal. Now that BTC is breaking out, I'm anticipating that CFX will see more gains in the near future. Target is the 2023 high, stop under this daily candle. A less risky trade would be a stop under the June 9th lows and/or a (partial) target of 0.3
Long
by FieryTrading
1
Is TSLA overbought and ready for a retracement?TSLA has run up over 100% this year in two separate waves. Some traders based on the the magnitude of the current wave say it is overbought? But is it or are they just trying to rationalize a short trade at what they think is the top? Are Jim Cramer and Kathie Wood wrong? On the daily chart of TSLA, I have added a long term volume profile, an anchored VWAP with lines for the mean and = /1 two standard deviations. I have drawn two zones of horizontal resistance based on pivots in the past couple of years. Zero-lag MACD and RSI indicators are added as well. I make the following points: (1) Price is above the high volume area of the profile but not significantly so. (2) Price is below the resistance zones and TSLA may have enough momentum to break through them without hesitation. (3) Price has crossed over the mean anchored VWAP but has a long way to go before it ascends to the second standard deviation where institutional traders may be prone to take short positions ( overbought) (4) The MACD indicator shows K/D lines in parallel and ascending above the histogram. With no lag to contend with a cross of the lines would be an early indication of an overbought condition. Bearish divergence would suggest TSLA is overbought but there is none. (5) The better RSI indicator shows the value rising from 40 to 70 in the current uptrend. A rise over 80 and then a drop to show bearish divergence would be an indication of an overbought condition. This has not occurred. Based on all of this, I can easily conclude that TSLA is not overbought. Any traders who say it is overbought may be simply trying to discourage further buying. I suppose that they might do so because they are in a short position that is now essentially self-liquidating. If that is the case, their better approach might be to get rid of their position, buy to cover and help TSLA move higher. I will continue to try to add to my long position in TSLA when I see daily lows on the 15 or less-minute time frame. From the overhead resistance, I can appreciate there is still significant profit potential with TSLA especially since the resistance may evaporate away letting TSLA bull run its way " blue sky".
NASDAQ:TSLALong
by AwesomeAvani
5
🔥 Ethereum First Oversold Signal Since FTX: High Risk RewardETH has been selling off over the last couple of days. As of today, ETH has reached daily oversold levels on the daily RSI, the first time since the FTX collapse. The daily RSI being oversold on the bigger assets like ETH and BTC typically offers good risk-reward entries for bounce plays. To further strengthen the bullish narrative, ETH is currently trading at a very strong diagonal support. I've been looking at this support for a couple of weeks now. My target is the 2023 top for the highest R/R. One could also use 2000 or 1900 as TP levels. Stop under the daily low. Keep in mind that this trade is relatively risky since the crypto market is weak at the moment.
by FieryTrading
10
🔥 MATIC Found Support At An Ancient TrendlineMATC has been one of the weaker major tokens of the last couple of weeks. During this week's sell-off, MATIC moved all the way towards an ancient support line which has been established at the start of the previous bull-market. This, combined with the 3D RSI being severely oversold, makes me believe it's more likely than not that we're going to see some kind of bounce in the near future. For an optimal risk-reward, I'm looking at the current ATH value as the profit target. A less risky bet would be to target 1.00 or 1.50, with a stop below the most recent local low.
M
by FieryTrading
6
EURAUD - Wait For The Trigger 🏹Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. on DAILY: Left Chart As per my last analysis, we know that EURAUD is sitting around a strong rejection zone as it is the intersection of a horizontal support in blue and a non-horizontal support in red. So we will be looking for buy setups on lower timeframes. on H1: Right Chart EURAUD has been overall bearish medium-term. However, it is diving inside the daily support zone. 🏹 For the bulls to take over , for a potential shift in momentum, we need a break above the last major high in gray and upper orange trendline. Meanwhile, EURAUD can still trade lower. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Long
by TheSignalyst
3
🔥 CFX First Daily Oversold In 2023 Bounce IdeaCFX has seen incredible gains in the start of the year. However, we've been largely been trading rangebound since the March top. As of today, CFX's daily RSI is on the edge of being oversold. This is the first time since half December that the RSI has hit daily oversold levels. This is significant because it has taken 6 months for it to happen, hence I'm anticipating bulls to step in. Keep in mind that we're currently in a news-related event, so volatility is to be expected. The signal will activate once the daily RSI has closed below 30.
Long
by FieryTrading
2
Does SPY want a correction? Maybe not but it will get one.SPY has had a good run this spring. However, things are changing. Just this week, the debt \ ceiling got raised. The fed will be auctioning large amounts of treasuries to pay bills. This is money that will not go into the equities markets. Buying volume on a dollar basis will likely go down as a consequence. On the daily chart with a double Bollinger Band setup, SPY is more overbought than ever. The part of the body of the last candle of this past week went outside of both the inner and outer bands. Looking back this has not occurred in well over a year. Candle wicks did go outside the bands in late October 22 and mid-December 22. On lower time-frames SPY has already pulled back into the Bollinger Bands and begun a reversal. I believe that many traders will take their profits off the table and take another look at bonds and treasuries. ETFs like TLT and TMF may see significant inflows no matter for stocks in general may not. I see this as a SPY pullback or correction upcoming for which to take a short trade. I will look at SPY and QQQ put options with very short DTEs as well as call options on SQQQ. For stock purchases, I might go with the ETFs SPXS and SPXU. The simple and basic analysis is their chart shows price candles partially below the lower Bollinger Bands, the inverse of the SPY. They are oversold and accordingly available for purchase at a discount.
AMEX:SPYShort
by AwesomeAvani
Big Bounce from here Thanks NVDA RSI BounceSo last night we witnessed NVDA we saw NVDA come up from a BULLISH GRAVE. I mean GEEEEEEEZ LA WEEEZ. This is the same bounce that the market seen from META, AMAZON and APPLE . The market was in a slump and then boom tech came into save the day. So as you can see on the 30 mins and hourly channel. We are indeed oversold and this along side with the QQQ being bullish late in th week this will carry over into next week. But here's my outlook on things was we head into WITCHING . Please do not forget. It's only weeks away and it's the same thing from last March . Please do not trade against the market. Trade with the market. The first half of June to me will be bullish. Look out for weakness after that.
AMEX:SPY
by Courtneyd
☆ The Relative Strenght Index (RSI) # on4 ! ☆The Relative Strength Index (RSI) - is a popular technical indicator used by traders to identify overbought and oversold conditions in the market. The RSI with a period of 4 is a shorter-term version that can provide more frequent signals. I use RSI 4 effectively following these steps: Understanding RSI Basics: The RSI measures the strength and speed of price movements. It oscillates between 0 and 100, with values above 89 indicating overbought conditions and values below 11 indicating oversold conditions. Identifying Overbought and Oversold Conditions: When the RSI 4 rises above 89, it suggests that the market may be overbought, indicating a potential reversal or a corrective pullback. When the RSI 4 falls below 11, it suggests that the market may be oversold, indicating a potential buying opportunity. Confirming Signals with Price Action: While RSI 4 can provide valuable insights, it is important to confirm its signals with other technical indicators or price action. Look for additional confirmation such as trendlines, support/resistance levels, or candlestick patterns to strengthen the validity of the RSI signals. Divergence Analysis: RSI 4 can also be used to identify bullish or bearish divergences. Bullish divergence occurs when price makes a lower low while RSI 4 makes a higher low, indicating potential upward momentum. Bearish divergence occurs when price makes a higher high while RSI 4 makes a lower high, suggesting potential downward pressure. Setting Stop Loss and Take Profit Levels: Determine appropriate stop-loss levels to protect your trades in case the market moves against you. Set take-profit levels based on your risk-reward ratio and the potential of the trade. Remember, RSI 4 is just one tool in your trading arsenal. It is essential to combine it with other technical indicators, chart patterns, and fundamental analysis for a comprehensive trading strategy. Regularly monitor the performance of RSI 4 in different market conditions and adjust your trading approach accordingly. Note: The use of any technical indicator, including RSI 4, does not guarantee successful trades. It is important to practice risk management, conduct thorough analysis, and make informed trading decisions based on a holistic view of the market. Always remember that no single indicator or strategy can predict market movements with 100% accuracy. Utilize RSI 4 as part of a well-rounded trading methodology, and continually refine your skills and knowledge through experience and ongoing education. HappyForexTrading ☆ J
OANDA:XAUUSDEducation
by ATU_TAD
Paypal - too cheap? PayPal's stock looks undervalued, trading at 6-year lows and a forward P/E ratio of 12.3, despite a strong Q1 performance with respectable transaction revenues, total payment volume, and growth in value-added services. Operating expenses are well-managed, contributing to substantial growth in operating income and earnings per share, while consensus estimates suggest mid-to-high teens EPS compound annual growth rate. Market concerns, such as PayPal's Q2 revenue guidance and increased competition, are offset by the Moderate Buy consensus rating, suggesting a 60.7% upside potential. The involvement of activist investor Elliott Management and the potential sale of the cross-border payment unit, Xoom, signal strategic changes that could enhance PayPal's performance. PayPal still rides the wave of the growth in e-commerce, with 12% payment volume increase in Q1 2023, and a rise in peer-to-peer transfers, demonstrating resilience in a challenging macroeconomic environment. The fundamentals of this company have become detached from the share price, making this a long term buy and hold with hugely asymmetrical risk/return profile. Shorter term, the move back to the highly developed Point of Control would represent over 20% growth, which I see as a high probability outcome within weeks.
NASDAQ:PYPLLong
by HayeTrading
8
Introducing the Dynamic Fusion OscillatorHello, it's Stock Justice here! In our latest video, we delve into the world of the Dynamic Fusion Oscillator (DFO) - a tool that blends the power of the Relative Strength Index and the Stochastic Oscillator. I walk you through how it works, from understanding these two base components to how we fuse them to create a balanced and sensitive tool for identifying market trends and reversals. We dive deep into how the DFO uses moving averages to signal potential bullish or bearish trends, and how divergence within the DFO can indicate trend reversals or continuations. I also touch on the DFO's capacity for multi-timeframe analysis, giving you the bigger picture of market trends. Wrapping up, I remind you of the DFO's value as a versatile trading tool, but also emphasize the importance of using it alongside proper risk management and other technical analysis components. All in all, this video is a must-watch for traders aiming to enrich their toolkit and navigate the market more effectively!
NASDAQ:NVDAEducation
by StockJustice
CIPLA AT STRONG SUPPORT ZONE !!!!The price is trading at strong demand zone 850-- 875, Which is multiple time tasted by the price. Price taken support multiple times and bounce back towards the upside level. As we can see that price is trading at lower level and we seen a heavy correction in price from the all time high level of 1185 and now price is trading at 877. 850 --- 875 is strong support zone. If price respects the support level and shows good momentum either forms any bullish pattern or candle with high volume than we can plan the trade for upside with low risk & high Reward Setup. #CIPLA 👉Price Near support zone of 850--875. 👉Heavy Correction Seen from ATH Level of 1185 👉If Respect the support zone than good bounce back possible. 👉Wait for bullish pattern or candle formation with good volume 👉Track on lower TF for strong reversal 👉A good entry we can see
NSE:CIPLALong
by Jha_Nidhi