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Relative Strength Index (RSI)

Using S/R levels to draw trend lines (and) the CSC-HARSI UpdateWelcome back to the coffee shop everybody. This is just a quick update to the csc-HARSI indicator, And a video to show you how you can use its indications to draw your trend lines so you know when your price or trend is broken. So if you already have the csc-HARSI on your charts go ahead and delete it from your chart and then go through tradingview indicators and look for coffee shop crypto or the CSC-HARSI 2022. Okay okay you talked me into it here's a link. This is key to know when you are not only breaking your support and resistance levels with price but when price also breaks your trend lines which is a secondary confirmation. Add to that you can see when price will actually retrace and come back and test off of your trend line. Which is a problem that many Traders have because price actually pulls back to their support or resistance level right through it slightly and put them into fear make them get out of their trailer early thinking that price is going the other way but it's actually tracing back to a trend line that is behind your support or resistance level. This update in the CSC-HARSI comes because I was working on something in the Heiken Ashi Algo and decided to take a piece of the code that I just came up with and put it into the CSC- HARSI so you can use it now instead of waiting for the ALGO to be ready. Take a look at the video and let me know if you have any questions whatsoever. Also in this video I got a little carried away showing you my double sarcastic strategy based off the regular stochastic RSI and a stochastic which I have created. Both of the stochastics will be available in the Heiken Ashi Algo. It will not only tell you that price is moving in a particular direction but it will also tell you as soon as the momentum of that direction is diminishing so you can get out before getting caught in a trap or in a range. Knowing what to look for in this double stochastic strategy will also help you avoid getting into a bullish or bearish move that looks like the market is moving in a particular direction when it's actually moving into a liquidity trap. Don't bother going online looking for this particular double stuck hectic strategy or indicator because it doesn't exist. The only reason it doesn't exist is because again it's using a secondary stochastic which I have created Which will only be available in the Heiken Ashi Algo Oscillator.
Education
by CoffeeshopCrypto
2
GBPJPY Key Swing High| .618 Fibonacci| Price Action| Trend Evening Traders, Today’s analysis – GBPJPY – trading towards key swing high area where a rejection is possible, Points to consider, - .618 Fibonacci Resistance - Key Swing High Liquidity - POC Objective - Price Action Rotation GBPJPY’s immediate price action is trading towards liquidity pool with the .618 Fibonacci in confluence, allowing for a bearish bias. The POC is the immediate objective; exceeding this level will lead to a deeper pull back. Price action is to be used upon discretion/ management when executing this trade, invalidation is multiple candles closes below the POC. Hope this analysis helps, thank you for following my work and remember, “Never let a win go to your head, or a loss to your heart.” – Chuck D.
Short
by The_Alchemist_Trader_
2
AVAXUSDT Range High Retest| .618 Fiboancci|Monthly S/R| Trend Evening Traders, Today's analysis - AVAXUSDT- trading above its range high support, consolidating here is a bullish sign Points to consider, - Price action corrective - Range High Support - Declining Volume - .618 Fibonacci Confluence AVAXUSDT's immediate price action is resting on a support zone that is in technical confluence with the range high and the .618 Fibaoncci, allowing for a bullish bias. the volume is on a decline, it needs to increase on the expansion, this will solidify the move Price actions objective will be the Monthly S/R, exceeding this level will lead to a trend continuation. price action is to be used upon discretion/ management, hope this analysis helps ! “Trading is buying and selling to exploit a change in the price. Investing is acquiring assets for economic reasons.” ― Naved Abdali
Long
by The_Alchemist_Trader_
GBPAUD Correct PA| POC Support| PA Range Evening Traders, Today's Analysis - GBPAUD's - trading with corrective price action that will lead to a bounce Points to conside, - price action corrective - local range low lost - nPOC Support - range reclaim = deviation GBPAUD's immidiate price action is trading at a key support that is the nPOC, a bounce here with a reclaim of the local range will confirm a deviation, this will allow for a bullish bias. the immediate objective will then become the .618 Fibaoncci of the recent impulsive leg down. price action is to be used upon discretion/ management when executing this trade hope this analysis helps, thank you for following my work and remember, “Trading doesn't just reveal your character, it also builds it if you stay in the game long enough.” ― Yvan Byeajee
Long
by The_Alchemist_Trader_
2
RSI Crash Course - Why Most People Get REKTHere is a quick crash course on how I use the RSI along with Elliott Waves. - Using the 20, 30, 40, 60, 70, 80 levels within the context of the trend to spot entries - How to spot uptrends and downtrends with support and resistance - How to spot big 3rd wave moves - Using divergences to spot the end of a trend This can be used on any time-frame but I just use it on the daily for this example Like anything in trading, the RSI is more complex than most people first suspect. However, I hope this tutorial simplifies it enough for you to improve your trading P.S. Video cuts out part way into my example, but you get the full tutorial and setup on how I use the RSI Hope you have a great day trading, Tchau
Education
by joshuashepherd877
GME: RSI Update, Dip Before the RipGood morning, Last time we fell below the 30 mark on the RSI we saw a 90%+ move up and the other two times it fell to this level we saw 50-100%+ move up as well. I'm factoring in a 60%+ move up as this is like a spring that has been compressed and is ready to explode. I also overlayed November 2021 cycle and it looks like we're following that perfectly. Downside PT: 22.12 / 21.87 (support) Upside PT: Fill the gap at 27, 37 and 40. As always, NOT financial or sexual advice. Good luck!
NYSE:GMELong
by SierrasTrades
4
EURUSD Monthly S/R Support| Price Action| Trend Evening Traders, Today's analysis, EURUSD - trading towards a key resistance level where a bearish retest is possible, Points to consider, - Price Action Corrective - POC S/R Resistance - .618 Fibaoncci Resistance - Bearish OB Resistance - Low Volume EURUSD's immediate price action is corrective, the bounce is on low volume and approaching a key trade location with resistance confluence, this allows for a bearish bias. The resistance is the .618 Fibonacci, POC S/R and a Bearish OB, price action is likely to have a rejection of this level, a reclaim will be a strong bullish sign, invalidating the trade. The objective is the lower Daily S/R support and the overall Monthly S/R Price action is to be used upon discretion/ management, hope this analysis helps remember, "Amateurs think about how much money they can make. Professionals think about how much money they could lose." –Jack Schwager.
by The_Alchemist_Trader_
EUR/USD: Movement by fundamental analysis!!!Fundamental Analysis: ***1) Germany, Europe's largest economy, is still on course for a recession even with a new government plan to spend 65 billion euros ($64.49 billion) on shielding energy customers and businesses from soaring inflation, economists say. 2) The latest package brings to 95 billion euros the amount allocated to inflation-busting since the Ukraine war began in February. By contrast, the government spent 300 billion euros on propping up the economy over the two years of the pandemic. 3) European gas prices surged, stocks slid and the euro sank on Monday after Russia halted gas flows via a major pipeline, sending another shock wave through economies in the region still struggling to recover from the pandemic. 4) European Union governments are pushing through multi-billion euro packages to prevent utilities buckling under a liquidity squeeze and to protect households from soaring energy bills. 5) Europe has accused Russia of weaponising energy supplies in retaliation for Western sanctions imposed on Moscow over its invasion of Ukraine. Russia blames those sanctions for causing the gas supply problems, which were down to a pipeline fault 6) European stock indexes fell on Monday, the euro dropped below 99 cents for the first time in twenty years and European gas prices surged after Russia said its main gas supply pipeline to Europe would stay shut. 7) European gas prices jumped as much as 30% as the market opened, and Germany announced on Sunday around $65 billion of support to help protect Germans from rising costs. 8) Finland and Sweden also announced plans to offer liquidity guarantees to power companies. Finland's economic affairs minister warned of the possibility of "kind of a Lehman Brothers" in the energy industry, referring to the 2008 collapse. 9) The euro zone is almost certainly entering a recession, with surveys on Monday showing a deepening cost of living crisis and a gloomy outlook that is keeping consumers wary of spending. 10) Germany's services sector contracted for a second month running in August as domestic demand came under pressure from soaring inflation and faltering confidence, a survey showed on Monday. 11) Euro zone business activity contracted for a second month in August as demand sank, with customers wary of the deepening cost of living crisis and gloomy economic outlook curtailing their purchases, a survey showed. ***12) The European Central Bank meets later this week, and is widely expected to raise interest rates given inflation is rapidly approaching double digits in the Eurozone and the policymakers have become worried about high prices becoming firmly entrenched. 13) The euro sank below $0.99 to a new 20-year low on Monday after Russia's halt to gas supplies down its main pipeline to Europe heightened fears about a deepening energy crisis across the region. 14) ECB officials will be keen to see the euro, which has lost around 8% of its value in the past three months, stabilise. That will feed into the desire to try to tame inflation through tightening policy. ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- So guys, what I found out it's that Germany Government make an investment of 65 billion (Euros) on shielding energy customers and businesses from soaring inflation and $95 billion (Euros) the amount allocated to inflation busting since the Ukraine began in February 2022. Another data show that Germany has spent over 300 billion (Euros) on propping up the economy over the past 2 years of the covid-19 pandemic. Now, European Union are pushing through the Multi-Billion plan packages to rescue and prevent utilities buckling under a liquidity squeeze and to protect household from soaring energy bills. At this point, we see a bullish side for Euro currency in this fundamental analysis what Germany (The largest economy in whole Europe) do and European Union to rescue the countries they to one shield energy customer and businesses from this inflation in the energy crisis. But in other hand, we see a bearish fundamental that EUROPE has accused to Russia of weaponing energy supplies in retaliation for western sanction imputed on Moscow, over its invasion of Ukraince, Russia blames those sanctions for causing the gas supply problems in whole Europe. ***European Central Bank will make a meeting about interest rate decision in this week on this Thursday and expect to raise 1.00%. --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Now, talking about technical analysis, I'm bullish in based the bullish side that appear very optimistic for Euro currency. Now, we're in this bearish channel, and we formed a bullish divergence in the RSI and price action too. What we could to expect a possible long position from this side, what we can't to trade until we see a smart point to buy in $0.9920 USD or the break-out of this bearish channel, what it's better to be disciplined and patience until this trade develop, but has a bullish side. So guys, at the moment, I don't see a trade yet until hope our best buy zone. I hope that this perspective have your idea to long in Euro at favor by fundamental analysis. So, we know that Europe it's in the recession, but today it's appear good bullish side that we could to see in the Europe largest economy that it's Germany and European Union. And also on Thursday the European Central Bank will make an interest rates decision and expect to raise 1% in this week. So guys, in this week, there're a lot to read in United Kingdom that we have a new Prime Minister that I'm very interesting to analyze some Sterling Pound and know my perspective why I' see a dark future in it. I will keep update this par!!!
Long
by harisonhbn9718