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Relative Strength Index (RSI)

🔥 BNB Waiting For Oversold Bounce Break OutBNB has been a leading bearish crypto over the last couple of days, which has most likely to do with the legal issues that both Binance and CZ are currently facing. Nevertheless, I think that BNB is still a worthwhile asset. With BNB hitting daily oversold (bottom indicator is daily RSI), I'm expecting some kind of bounce in the near future. The entry signal will be once BNB can successfully close an hourly candle above the dotted purple resistance. Stop below the recent swing low (currently 263) and a target of 300.
Long
by FieryTrading
6
🔥 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
🔥 APE Crazy Bullish Divergence: Best Trade Of The Summer!APE has been roughly selling off since the start of the year. This trade anticipates that the selling is over and that the bottom is in for the time being. The idea is that the massive bullish divergence on the price vs RSI will cause a huge uptick in bullish pressure, further reassured by a bullish long-term BTC and stock market. When we place the stop below the current daily low of 2.99 and a target of 6.40 (the year to date high), we can create a trade with an insane risk-reward of almost 26. This can potentially be one of the best trades of the summer. Based on your preference you can take partial profits around 3.50 and 4.60
Long
by FieryTrading
11
🔥 XRP Overbought: Reversal Trade With Great Potential RewardXRP has been seeing great price action over the last 2 weeks or so. However, XRP is going up whilst BTC is going down, which puts it at risk of being dragged downwards by Bitcoin. This trade is based on the idea that Bitcoin will continue to trad bearish, and XRP will eventually follow. To further strengthen our bearish bias, XRP is both reversing from a historically strong area of resistance and the daily RSI is overbought. A defensive trader can take partial profits and/or move the stop at 0.44 and 0.4
Short
by FieryTrading
4
🔥 EOS Oversold Double Bottom Bounce: High Risk/Reward! Like most cryptos, EOS is currently seeing a bullish bounce after weeks of selling. There's two reasons on why EOS might see a strong bullish move coming in the near future. - The daily RSI has reached oversold. - The price has found support in a 1 year old support area. Wait for the price to close above the 0.92 level, which is a short-term resistance. Target is placed at the recent highs. More defensive traders could move their stops to break even and/or take partial profits around $1.
Long
by FieryTrading
3
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
JKS - It's a challenging uphill battle!Breaking the recent downward trend will be a challenging task, despite our strong support. Currently, we are below both the 200-day moving average (turquoise line) and the 50-day moving average (gray line), and we also need to surpass the RSI 50 level to initiate a strengthening. If the upward movement begins, we will face resistance at the 50-day moving average around 47, the upper Bollinger Band at 48.5, and the 200-day moving average and RSI 70 level at 50.50 (three red circle). Since the $50 price level is also a psychological barrier, I don't believe we can rise above it without a strong catalyst. Despite robust revenue growth, any potential issues with US authorities could force the stock to trade sideways within the range of 42-50.
NYSE:JKS
by BostonTrendLab
SHH looking for a continuation to upside? MYX:SHH could be looking for another continuation to the upside. However risks are higher with this as liquidity is not too good. A break of 0.98 would possibly lead to targets of 1.06 and then 1.33. Lets see if I get it right These are my views and analysis and is only used for educational purposes. I am not a financial advisor. Nothing in the information posted here is intended to be or should be interpreted as trading advice.
MYX:SHHLong
by Richkierich
YTL forming flag patternMYX:YTL looks like it is flagging for a continuation pattern to the upside. If it manages to break 0.675, I am estimating next resistance to be around 0.69 and then if this level gets broken, 0.72. Similar moves to MYX:YTLPOWR which I posted earlier. These are my views and analysis and is only used for educational purposes. I am not a financial advisor. Nothing in the information posted here is intended to be or should be interpreted as trading advice.
MYX:YTLLong
by Richkierich
YONGTAI breaking resistance? MYX:YONGTAI retook Friday's high and absorbed the selling pressure. I am feeling bullish that this name could see more upside in the near short term future with a target of 0.435 if 0.38 manages to break. Of course if 0.35 gets breached, the setup is invalidated. These are my views and analysis and is only for educational purposes. I am not a financial advisor. Nothing in the information posted here is intended to be or should be interpreted as trading advice.
MYX:YONGTAILong
by Richkierich
2
USOUSD rises on reversal USOUSD today on the 15-minute chart dropped on a downtrend outside the Bollinger (lower) Band (49, ohlc,2) hit a Doji candle and then started the upward retracement. The RSI indicator shows relative strength hitting a bottom and bouncing up. RSI is about to go over 50. Price is currently below the high volume area with the POC line aligned with the basis center line of the Bollinger Bands. The ECHO indicator, a predictive algo tool is for a 2.5 % upward trend over the next 2-3 days. I see this as a good entry point for a long leveraged forex trade.
EIGHTCAP:USOUSDLong
by AwesomeAvani
AUDJPYAUDJPY on the 30-minute chart has had higher lows but also lower highs and may have a symmetrical triangle pattern. Price is currently at or above the following : (1) the POC line of the long-term volume profile (2) the mean line of the long-term anchored VWAP (blue line ) and the convergence of the EMA 200 ( red) and EMA 21 ( green). On the stochastic RSI the lines are moving upward from a bottom well below 20 and suggest bullish divergence. Given these confluences, I conclude that AUDJPY is set up to move higher over the intermediate term.
Long
by AwesomeAvani