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Rsi_divergence

$DOGE - Break it or Take it !!!Hello my Fellow TraderZ, I hope you guys have seen my yestedray's post where I mentioned about this move was expected and again we have nailed it with whoopy PUMPA. Today I will be sharing my view on Daily TF and what could be expected. Right now $DOGE is facing its major Resistance zone lies here. If clears this zone, it has no further strong barriers to $0.2 - $0.23 which is another 40-50% move from here. But the concerning point is that the RSI on DTF is extremely overheated + a clear cut BEARISH DIVRGENCE on 4 HTF and so I'm expecting a healthy pullback with drawdown of ~25-35%. Also if you see with increasing price, Volume bars are going down which generally indicates the exhaustion of fuel to the PUMPA. So be cautious and make yours' entry carefully on either side. CHEERS!!!
Long
by TRADER-GOKU
2
Too fast, too furious for Natural Gas?After a sharp drop in August, Natural Gas futures is now sitting close to the long-term uptrend support which has marked key reversal points since June 2020. Our question is whether prices have fallen too fast and too soon? We question “too furious” when we look at the RSI which currently points to oversold levels. Hitting a low close to 24, the last time RSI reached such an oversold level, in February 2017, prices rallied close to 35% over the next 2 months. We also note the formation of RSI divergence now, like the one we observed during the 2017 period. If history is any guide, from a technical perspective we can expect some upside for Natural Gas in the coming 2 months. We question “too fast” as we are at the dawn of the seasonality trade. With demand for Natural gas used for heating generally rising as winter months are approaching, we can reflect on the seasonality behavior of Natural Gas prices over the past winters. A simple strategy of buying in the middle of October and waiting for the winter months gives a 70% win-rate when we look back at the past 10 years. Could we expect the same this winter? On top of these, we think there are a few structural factors that might boost natural gas demand in the US over a longer-term horizon. 1) The recent announcement by the Biden administration that ruled out a ban or curbs on natural gas exports this winter, and Europe’s struggle with the energy crisis spell good news for Natural Gas’s demand. 2) Current Natural gas storage levels are also below the 5-year average as reported by the US EIA . 3) A move away from coal as agreed in the COP26 means alternative energy sources are bound to replace coal. With many coal-powered plants being refurbished to work with natural gas, we see structural demand rising as more of these plants come online. Natural gas’s current technical levels point oversold to us, with the seasonality trade potentially on the cards and an overall supportive macro backdrop, we lean bullish on Natural gas. As Natural Gas is considered a highly volatile contract, we can use the Average True Range (ATR) to set our stops. In this case, we follow the rule of thumb to multiply the ART by 2, which sets our stop at roughly 4.550. Entry at 5.200, stop at 4.550. Target at 6.400. The charts above were generated using CME’s Real-Time data available on TradingView. Inspirante Trading Solutions is subscribed to both TradingView Premium and CME Real-time Market Data which allows us to identify trading set-ups in real-time and express our market opinions. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com Disclaimer: The contents in this Idea are intended for information purpose only and do not constitute investment recommendation or advice. Nor are they used to promote any specific products or services. They serve as an integral part of a case study to demonstrate fundamental concepts in risk management under given market scenarios.
NYMEX:NG1!Long
by inspirante
15
BTCUSDT Deep Crab, CMF & RSI fractalAs we can see on this 1D chart, BTCUSDT can be ready to drop as Chaikin Money Flow and RSI correlations seems to be close to repeat signals for a potential drop. A target for this possible impulsive bearish wave is a Deep Crab harmonic pattern aiming the bottom from this consolidation. A strong pullback can occurs @ the support area. For an effective signal to exit of this trade the LSMA of 28 periods breakout can be a good indicator to avoid of a non-profitable consolidation phase after a potential 10% average downward. All the profitable trend tends to stay below 28LSMA due to the oversold condition on RSI. All the key levels are displayed on this chart.
Short
by firmestudio
1
GOLD MTF Wave stochastic example for trend reverseSometimes you don't need to count all of the Elliott Waves and pinpointing where the last Impulse started is enough to located the proper Time frame to look for that wave ending on the MTF. in this case the 1 month chart was the relative Time frame for the last impulse upwards (see where I wrote MTF stoch wave start) and you can see that from the Stoch being oversold on all time frames. then notice how the green (HTF) starts curving down at the end with a tap from blue and gray as a potential local top to exit at.. this is often all you need to trade a simple wave without too much complication. Please do not hesitate to ask any questions
TVC:GOLDEducation
by cryptoheat
MNMD Long based on Fundmntls, Lvls and MetaWorldCrypto indicatorHypothesis: pharmaceutical company price depressed due to conflict between management and investor, price artificially low due to FUD. Confluence on W1 charts: 1. Price near ATL and 2020 support levels (year of IPO), see Early 2020 Support, and 2020 Support Levels. 2. Advanced RSI in oversold band with three Regular Divergence -Bullish signals 3. Setups & Trends also showing same three Regular Divergence - Bullish signals (same signals as above) 4. StRSI <10% with K crossed up D Confluence on H1 chart 1. Price below Early 2020 and 2020 support levels and bouncing off Oct 2022 support. 2. Setup & Trend and Advanced RSI showing three Regular Divergence - Bull signals Position: Entered at $2.82 with SL at $2.70, TP1 at $3.75 Risk Management: RR 7.75, Portfolio Risk % 0.43%, SL% Loss 4.26%, TP1% Gain 32.98%
NASDAQ:MNMDLong
by metadimensional
Sushi - Bearish Divergence 4HSushi has ben on the roll recently, with strong bullish pressure making its price reach its multi-month high. On the 4H time frame SUSHI is forming a bearish divergence with higher highs on the price and lower high on both MACD and RSI. RSI its losing momentum at the moment of the writing, while still sitting in overbought territory. I would open a short at these price, with target price at the demand zone at around $1.2. Remember that buying pressure is still very high as highlighted by the volume levels, thus play safely.
Short
by crypto_angelz
The art of trading- Spotting Divergences is a good way to be prepared for a potential trend reversal. - Many peoples are using RSI in a wrong way, as fix point indicator (oversold or overbought). - in reality RSI is a "Momentum indicator". Point to Point. - Divergences most of the time are not enough to enter a position but help you to have more nice cards in your hands. - They can be combined with Trend Lines, Supports/Resistances, pivots, MAs/EMAs and much more indicators. - More information you get on a trend, more is helpful to be accurate. - the reverse of the medal is using too many indicators at the same time can make you confuse and doubt. - Trading is an art but patience a virtue. Happy Tr4Ding !
COINBASE:BTCUSD
by thecryer
4