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Rsi_divergence

GOLD : How to trade with Rsi IndicatorOANDA:XAUUSD What Does RSI Mean? The relative strength index (RSI) measures the price momentum of a stock or other security. The basic idea behind the RSI is to measure how quickly traders are bidding the price of the security up or down. The RSI plots this result on a scale of 0 to 100. Readings below 30 generally indicate that the stock is oversold, while readings above 70 indicate that it is overbought. Traders will often place this RSI chart below the price chart for the security, so they can compare its recent momentum against its market price. How do you trade effectively with RSI? The common levels to pay attention to when trading with the RSI are 70 and 30. An RSI of over 70 is considered overbought. When it below 30 it is considered oversold. Trading based on RSI indicators is often the starting point when considering a trade, and many traders place alerts at the 70 and 30 marks. KEY TAKEAWAYS The relative strength index (RSI) is a popular momentum oscillator introduced in 1978. The RSI provides technical traders with signals about bullish and bearish price momentum, and it is often plotted beneath the graph of an asset’s price. An asset is usually considered overbought when the RSI is above 70 and oversold when it is below 30. The RSI line crossing below the overbought line or above oversold line is often seen by traders as a signal to buy or sell. The RSI works best in trading ranges rather than trending markets.
OANDA:XAUUSDEducation
by INVESTRONE
BTC/USD - Analysis of recent events and a Double TopQuick BTC/USD analysis of the last few Months: Looking at the Price and the Relative Strength Index (RSI) Convergence/Divergence: From Tuesday 13th Sept 22 until Saturday 5th Nov 2022 we had Convergence with the Price and RSI which indicated a reversal was most likely on its way. Price = HH - LH (Higher High - Lower High) RSI = HH - HH (Higher High - Higher High) Next from Wednesday 9th Nov 2022 to Monday 21st Nov 2022 we had Convergence with the Price and the RSI which then lead to a reversal breakout. Price = LL - LL (Lower Low - Lower Low) RSI = LL - HL (Lower Low - Higher Low) Next from Sunday 29th Jan until Tuesday 21st Feb 2023 we had Divergence with the Price and the RSI leading to the bearish reversal drop that we are still in today. I suppose you could start this Divergence sooner if you wanted, but i have started it on the 21st Feb 2023. Price = HH - HH (Higher High - Higher High) RSI = HH - LH (Higher High - Lower High) Here is a closer look at the 1 day chart. Here is a closer look at the RSI Indicator. For those who are new and do not know, please note that Divergence/Convergence with the Price and RSI is indicted by the Straight Yellow Lines on the Chart and RSI Indicator. A few other bits. BTC has also created a Double Top Pattern as indicated by the 2 circles on the chart with arrows. The 1st Top was at Monday 15th Aug 2022 and 2nd Top was at Tuesday 16th Feb 2023. Note that BTC tried to get above this support level 3x and failed all attempts at closing above this resistance line. BTC is still in an Ascending Channel Pattern, while it did break out of its Upper Resistance Trend-line, it did not CLOSE ABOVE it, so this Upper Resistance Trend-line is still valid. Using the Lower Trend-line of the Ascending Channel and the Double Top Resistance line, we can also say that BTC may also be in an Ascending Triangle Pattern. At the moment of typing this, BTC is still below its 50MA (Yellow Line) and has found some support from its 200MA (Red Line). Looking at just the Leading Span A (Senkou Span A) and Leading Span B (Senkou Span B) of the Ichimoku Cloud, we can see that BTC is in the Equilibrium Zone Inside the Cloud. Note that a successful daily candle CLOSE BELOW the 200MA will also bring BTC under its Leading Span B (Senkou Span B) support level into the Bearish Zone of the Ichimoku Cloud. Please note that i am not using the traditional 9,26,52,26 settings for this cloud. Looking at the Bollinger Bands, we can see that we have had massive expansion of the Upper and Lower Bands for the negative side, BTC is still way below its Middle Band Basis 20 Period SMA and note that the Middle Band is still Pointing Downwards. Note that BTC is still walking on the underside of its Lower Band. My thoughts: While Silvergate Bank’s liquidation may have contributed to the drop we are still in, looking at this chart, we can clearly see that the Price and the RSI were already giving the warning signs back in February especially with the Double Top and Price/RSI Divergence. We will now have to see if the 200MA holds as Support, if it doesn’t then next is the Lower Trend-line of the Ascending Channel Pattern. During these recession, it is iInteresting times ahead for BTC and the whole Crypto market. In any case, i hope this post has been informative and has helped those who are new to charting and using Price/Oscillator Convergence & Divergence to help predict possible price movement.
BITSTAMP:BTCUSD
by TradingThroughTheLens
Anticipating CAD/JPY's Bearish Breakout: Technical AnalysisHey, fellow traders! I'm keeping a close eye on CAD/JPY as it looks bearish and could potentially head south. In my technical analysis, I've spotted a trendline and RSI divergence that could indicate slowing momentum, along with a sweet continuation pattern in the price action. If we break the key "support/resistance area," the pair could drop as low as 97.5. That's why I'm planning to wait for a pullback before taking any action in the market. But for those of you who are considering shorting CAD/JPY, keep an eye out for these signals as they could indicate a prime opportunity to make some profits. Overall, it's essential to stay vigilant and monitor the trends and indicators to make informed trading decisions. I hope this analysis helps you in your trading journey. Happy trading!
Short
by natron
Weekly RSI DIVERGENCE + TRIPLE BOTTOMWhat more can you ask? :) * 𝗧𝗵𝗲 𝗶𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻 𝗮𝗻𝗱 𝗮𝗻𝗮𝗹𝘆𝘀𝗶𝘀 𝘀𝗵𝗮𝗿𝗲𝗱 𝗶𝗻 𝘁𝗵𝗶𝘀 𝗽𝗼𝘀𝘁 𝗶𝘀 𝗻𝗼𝘁 𝗳𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗮𝗱𝘃𝗶𝗰𝗲. 𝗔𝗹𝘄𝗮𝘆𝘀 𝗰𝗼𝗻𝗱𝘂𝗰𝘁 𝘆𝗼𝘂𝗿 𝗼𝘄𝗻 𝗮𝗻𝗮𝗹𝘆𝘀𝗶𝘀 𝗮𝗻𝗱 𝗿𝗲𝘀𝗲𝗮𝗿𝗰𝗵.
NASDAQ:INTCLong
by preduta
TWT: UPDATE Currently, the market appears to be experiencing a decline, with many coins following the trend set by BTC. TWT has not yet received confirmation, but if it manages to rise above $1.46 in the next hours, it could potentially signal an upward trend that could be worth keeping an eye on. We will continue to monitor the situation to see if TWT is able to confirm this potential uptrend. The first focus on this would be a 10% increase, from there we could see if this coin is able to confirm uptrends. If this coin breakdown below $1.24 would be not more interesting for the low time frame. Have good trades all.
Long
by Goldenbreakout
"Swing Trading COIN: Bearish Divergence and Golden Pocket Setup"Confirm bearish divergence on RSI: Wait for a clear bearish divergence on the daily RSI chart for COIN . Watch for a break below the 50 EMA: Keep an eye on the price action and volume to confirm a break below the 50 EMA. Volume increasing as it breaks 53.66 could signal a stronger bearish move. Enter short position: Once the break below the 50 EMA is confirmed, consider entering a short position at a price level slightly below the 50 EMA. Set a stop-loss order at 58.10 to minimize losses if the price moves against the trade. Set take-profit level: Set a take-profit level at 44.62, but consider taking into account the whole golden pocket between 52.78 and 43.78. The golden pocket is a Fibonacci retracement level and could act as a significant support level. Monitor the trade: Monitor the trade closely and consider moving the stop-loss order to a trailing 5% once the trade is 15%+ in profit. This can help protect profits in case of sell exhaustion. Also, consider oversold levels as the price approaches the profit target. Note: This trade setup strategy is based solely on technical analysis and does not take into account any fundamental factors that may affect the price of COIN. It is important to conduct further research and analysis before making any trading decisions, and to only risk an amount you are comfortable with losing.
NASDAQ:COINShort
by OccamsPhazer
1
RSI BULLISH DIVERGENCE Near SUPPORT !!!BIOCON Trading near strong monthly support zone of .. 223--- 210. There is bullish divergence also between PRICE & its RSI in weekly timeframe. Price also taking support near demand zone. #BIOCON📈📉 👉🏻Stock approaching strong Monthly & Weekly Demand Zone✅ 👉🏻 223-10Support Zone 👍 👉🏻Stock Showing Strength from support📈📈 👉🏻 Good For Investment View📈📈 👉🏻RSI Bullish Divergence On Weekly chart✅ 👉🏻TGT------ 243/258/280++ ✅ 👉🏻Low Risk High Reward Setup🎯 👉🏻Add To Your Watchlist✅✅ Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad.
NSE:BIOCONLong
by Jha_Nidhi
1
Natural Gas prints an RSI bullish divergence As you can see in the chart, natural gas had a big downside movement for the last months. Now It looks like the bottom is printed so I will consider entering a long here with targets 3.11$ and 4.69$ . You can see apart from the Bullish Divergence that It is starting to show a lot of strength, you can observe a gap-up between 2.314$ and 2.415$. For the buy setup I will enter now and set an stop loss order under the gap. If the position goes well, I will keep locking profits manually trailing the stop under key areas. Don't forget to share your thoughts on the comments and happy emotionless trading.
NYMEX:NG1!Long
by piccard54
What's next for CARDANO?Hello to all traders! Today are we going to take a look at Cardano from a short/midt-term position. As we have seen, Cardano had a great start to the year with a 70% thus far. What naturally follows is a healthy correction. From what I can see, it's a lot of selling pressure at the 0,4-0,42 area making it a strong resistance line to break through as of right now. It has retested 0,4-0,41 multiple times but never enough to break through. At this moment on the 1 hour timeframe we can see that it is on the 50 mark on the RSI, making it vulnerable to a lot of volatility. If it doesn't break past the 0,42 area, then we might have to look for a short position back down to 0,38-0,37. If you look at the MACD indicator we can see that it doesn't look like it has enough volume or momentum to break through the specified areas mentioned earlier. For a more short term strategy, we can see that on the 5 minute time frame that Cardano is looking strong, if it breaks past 0,4090 then I would begin to look for a long position with the first TP at around this month´s high at around 0,4180, and then shorting back down. At this moment Cardanois forming a descending channel pattern, that could very well be an indicator towards a short position. I definitely think that Cardano is going to make some big legs these next weeks/months but not without some corrections along the way, as we can see from this month. Enjoyed the analysis? Like! Want to see more? Follow! Let me know what you guys think! Let me know in the comments! - The Stallion REMEMBER TO ALWAYS TRADE AT YOUR OWN RISK AND I AM NO FINANCIAL ADVISOR.
by TheStallion_
EURUSD: Strong Trendline and RSI Divergence Signal Upside PotentThe EURUSD has experienced a pullback in February due to concerns about inflation. This concern was further highlighted by yesterday's CPI (Consumer Price Index) data, which revealed that inflation may stick around longer than expected. The release of this data has led to a boost in the USD and a bearish outlook for the EURUSD. However, despite the bearish price action, some traders are taking a contrarian view and looking for potential opportunities to buy into the pair. One factor supporting this view is the strong trendline that the EURUSD is currently approaching. This trendline has previously held, indicating potential support for the pair in the near term. If the trendline can hold, it may create a good entry point for traders looking to buy into the pair. Additionally, a printed RSI divergence on the 4-hour chart is providing a reason for cautious optimism. RSI is a popular technical indicator used to identify potential areas of overbought or oversold conditions. When the RSI diverges from price, it can suggest that the current price movement is losing momentum, potentially leading to a reversal. This could be a sign that the bearish momentum for the EURUSD may be losing steam. However, traders must also weigh the risks involved. These risks include ongoing concerns about inflation, geopolitical issues, and economic uncertainty caused by the COVID-19 pandemic. In particular, the CPI data released yesterday suggests that inflation may continue to be a concern for some time, which could create further pressure on the EURUSD. In summary, while the current market sentiment for the EURUSD is bearish, some traders are taking a contrarian view and looking for potential opportunities to buy into the pair. The strong trendline and RSI divergence are providing reasons for cautious optimism. However, traders must also consider the risks and uncertainties in the market, particularly given the concerns about inflation and the broader economic outlook.
Long
by natron