Rsi_divergence
Natural Gas (UNG) tradable rangeSelling PUTs on Natural Gas ETFs seems a decent income prospect at the moment. Not only are there auspices of a falling wedge breakout, but an increase in momentum may be acting as support at the lower end of a months long trading range. These formations are already seventy five days in the making, providing some confidence in the likelihood of our bullish presumptions coming to fruition.
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SPY Daily - Rising WedgeTreading lightly here as the SPY looks to be right at the end of a bearish rising wedge following a bearish ABCD Elliot Wave heading into a major week economically speaking. On Wednesday we have retail sales numbers, core CPI, and Core CPI YOY coming out, followed by jobless claims on Thursday. Will be watching closely, some support levels and RSI-based supply and demand zones to keep an eye on in the meantime, bearish and hedged- (Original Chart Attached Below)
- Rising Wedge following a bearish ABCD Elliot Wave
- Hidden Bearish Divergence on the RSI
- Sitting right on its 50-Day SMA
- Bearish ABCD Elliot Wave
RSI on the Chart?If you like RSI, you probably dislike that it takes up so much space on your screen - especially if your mobile. This solution provides the RSI in an authentic manner without sacrificing screen space. You might even be able to spot additional confluence types using this indicator. Soon enough I will have it spitting out all of my divergence signals. (I have 18 different divergences (9 buy, 9 sell) that I can spot and profit from)
Just search the indicators for EMARSI on Chart! Let me know what you think.
Bitcoin MACD and RSI show su strength nowSometimes, its a good idea to look away from the PA and to take a look at the other info presented to us as people Buy and Sell #Bitcoin
Two Major indicators for me are the MACD and the RSI.
The image here is the DAILY #BTC chart for those, since December 2022
At a quick glance you can see that Both MACD and RSI have reset a long way. This gives PA room to move higher.
The line that the Histogram changes colour on is Zero or Neutral and MACD has spent very little time below that line.
The MACD line ( Yellow) has dropped below, heading towards oversold) but still could drop further before reaching strong support.
The Signal line ( red) has yet to get there.
However, the Histogram shows usa a lot of info and that change maybe beginning..
Green bars above the 'Zero line' indicate positive momentum. Red bars below the 'Zero line' indicate negative momentum.
Note in this chart how the Histogram is beginning to show a reduced negative trend. It is rising while the MACD is dropping. that could be seen as Strong BULLISH divergence.
The RSI ( Blue) is possibly THE one to watch. Note how it has reached overbought ( high shaded ) 3 times and then got rejected. But, when RSI drops, PA does not always follow. This also creates Divergences.
Currently, RSI is at the same level it was at when BTC began the push up in Jan 2023. This does not mean it is about to begin rising again because, as you can see, it could drop a lot further.
But we are certainly entering an area that I call "Potential" - The Potential for reversal now exists and we have the strength to continue that reversal when it happens.
Other factors need to be taken into account but this certainly has got me searching for more liquidity.
Does anyone want to buy my house in South East France ?
NEARUSDT / Short / 27,04% (4x Leverage) / DT failing supportStrategy: Short
Entry: 6,74600
TP: 6,29000 (6,76%)
SL: 6,97500 (3,39%)
Decision Making process:
Subtle RSI bearish divergence
EMA crossover
Double Top bouncing off resistance and failing support
Support retested
General (BTC) bearish market
QQQ has recently broken below its upwardAfter going on a nice rally QQQ is starting to show signs weakness in its price action and RSI.
QQQ price action for the first time in a while breaks below its upward trend and holds below for two straight trading days
RSI 20 has also been forming a bearish divergance pattern with it trending down while price has been climbing over the past month.
Key signs to watchout for:
RSI breaking below 50
Price action breaking below its flat support line.
It is very possible that QQQ will simply do a pull back through time where trades flat for a month or two months before starting to rally again. Due to its more tech heavier lean, a correction and sell off in price is very likely as well.
Tighten your stop losses to protect downside risk
NVDA indicates a bearish divergenceComparing the price action to the RSI 20 indicator we can see a bearish divergence forming.
RSI is trending downward
Price action is continues to trend upward during same time
Gives indication that a reversal is becoming likely
RSI still remains above 50 which is bullish indicator overall
While NVDA has gone on tremendous tear lately we start to see signs of weakness in the price action and RSI. This does not mean its time to sell. I would recommend tightening up stop losses to protect against possible downside risk.
Tilray approaching a swing trade and/or shorting opportunityNASDAQ:TLRY is approaching a resistance range and is at the top of a W pattern. It's rsi is also overbought above the 70 level. Volume is also trending upwards and has reached the level where the previous volume high (and price trend reversal) was.
The trading opportunity is around the 3 scenarios shown in the chart, with, due to the technical indicators mentioned above, scenario 2 and then 3 being the most likely.
Trading approach would be to wait until after the quarterly earnings are released and see if:
Scenario 1
The price breaks above the resitance range, apply a 3 day filter to ensure it's not a fakeout, and swing trade upwards to approx. $3.
Scenario 2
A more likely scenario, the price starts to decline and enter then enter into a short with a take profit at $1.60. Exact entry point for the trade might be difficult to determine, especially as the previous moves in price have been so explosive that there may not be an optimum tim eto enter, thus shorting would be a higher risk trade.
Scenario 3
Wait until the price reaches the support level since November 2023 (approx. $1.6) and enter a swing trade back up to the resistance range with an exit at approx. $2.5. To reduce risk, enter the swing with a combination of the RSI being at 30 and/or a 3 day filter to reduce the risk of the price breaking down from $1.6 to a new low.
Scenario 3.5
Same as scenario 3 but with the support level being around the DMAs and price range where the price movement faced some resistance on it's way up during mid-March 2024. A more likely scenario, the price starts to decline and enter then enter into a short with a take profit at $1.60. Exact entry point for the trade might be difficult to determine, especially as the previous moves in price have been so explosive that there may not be an optimum time to enter, thus shorting would be a higher risk trade.
NOTE:
Those with a risk appetite large enough may use the technical indicators mentioned in the first paragraph as enough of a comfirmation to enter a risky short trade:
Entry point: Now ($2.45)
Stop Loss: $2.70
Take Profit: $1.60
Risk:Reward ratio: 1:3
SMR approaching DCA opprtunityNYSE:SMR is approaching a potential entry point for the start of a DCA strategy for a long term hold.
SUMMARY
Wait to see where the price moves. Using a combination of RSI reaching 30 and the price falling to (with a 3 day filter) around $4 or if the price continues to fall then around $2 (another 3 day filter at this level too), begin entry with a DCA strategy. Alternatively, if the price rises above $6, after a 3 day filter, begin DCA. If the price starts forming a flag between $5 and $5.80, enter once RSI has reached 30 (for those with a higher risk appetite can just use the RSI as an indicator) or await a range breakout/down to either enter at the $4 or $2 or $6 level as described above with or without a three day filter.
The price was seeing exponential growth in the leadup to the latest quarterly earnings report and popped a few days after. However, the price has subsequently fallen back down and now seems to be forming a pattern.
It is unknown really what caused the price to jump. And there has not been any significant insider trading on the day (or lead up to the day) where the price recently peaked.
The company itself has a healthy balance sheet and debt/equity ratio. It is still in the growth phase as they build somewhat emerging tech (nuclear power is established but their approach to providing customers modular smaller power stations is unique) and a large part of their customer base is still a maturing market (power hungry data centres wanting their own onsite nuclear power source, particularly those now being setup for providing AI). The company's income statement reflects this as net income over the recent years remains negative and is also not showing an upwards trajectory.
With this in mind this would be a stock for a long term hold with a DCA investment strategy until, whichever comes first, either a total dollar figure invested is reached or the company becomes long term profitable (i.e. exits the growth phase).
With the recent price fluctuations it is crucial to not enter too early as due to the immature nature of the industry and company, the price also has a high likelihood of remaining at a low level for quite some time. However, a DCA entry opportunity is also forming based on one of the 3 of the more likely price trend scenarios described in the chart. Details on these are as follows.
Scenarios 1 and 2:
Wait to see which way the price begins to move and see if it falls to one of the two support levels identified, make use of the RSI to identify the optimum entry point. If the price falls to $4, add in a 3 day filter to see if the price doesn't fall further and likewise add in a 3 day filter if the price continues to fall from $4 to $2. If the RSI has reached 30, and the 3 day filter has shown that $4 or $2 were a support level begin DCA. If the price continues to fall below 2, halt the DCA to see where the price becomes stable and then restart once the RSI starts trending upwards again.
Scenario 3:
If the price begins ranging between $5.30 and $5.80, depending on risk appetite, begin DCA once the RSI reaches 30 or starts trending upwards. If the price breaks out above $6, then add in a 3 day filter to ensure the breakout wasn't a false dawn, and start the DCA investment independent of where the RSI is.
TSLA - Solid Bullish Divergence TSLA has been a solid short but I have a hard time believing that this stock is down for the count. Apparently I am not the only person who is thinking this way because in spite of the downside price action, the RSI (Relative Strength Index) is indicating that sentiment is overall bullish still and price should reflect it in the short term. I don’t know if I feel super bullish with the macro outlook but as far as expecting a decent bounce out of TSLA in the short term- probability points to more likely than not- upside price action in the short term.
MINAUSDT Faces Resistance Hurdle: Breakout or Bearish DivergenceMINAUSDT is encountering a critical resistance level of $1.5484 on the weekly chart. This is the third attempt to break through this level in the daily timeframe.
Technical Analysis:
Resistance: $1.5484 (Weekly)
Support: $1.0113 (Weekly)
Relative Strength Index (RSI): Supported at 50, Bearish Divergence
Key Observations:
MINAUSDT is facing a significant hurdle at a key weekly resistance level. A breakout above this level could signal further upward momentum.
The repeated attempts to break resistance on the daily chart suggest persistent buying pressure.
The RSI is currently at a neutral level (around 50), but there is a potential bearish divergence. This means that the price is making higher highs, but the RSI is not confirming this move by making higher highs itself. This could indicate weakening momentum despite the buying pressure.
If the price cannot overcome resistance, it could find support at $1.0113 on the weekly chart, potentially establishing a trading range between these two levels.
A successful breakout above resistance could lead to further gains towards the next daily resistance level at $2.0344.
Conclusion:
The upcoming price action for MINAUSDT will be crucial. Overcoming the weekly resistance with strong confirmation from the RSI is key for a sustained uptrend. However, the bearish divergence on the RSI suggests a potential for a pullback if the price fails to break through.
This information is for educational purposes only and should not be considered financial advice. Please conduct your own research before making any investment decisions.
GBPCHF SHORT postionAfter reaching a supply zone for the GBP may be it is time for correction. There is bearish divergence on the RSI 1H timeframe which I am thinking is going to happen. The TP zone could be the eclipse which is on the resistance zone. The other important thing is that the 200MA could be support zone which is not sure that the price will break. Do your own reasearch and please share you thoughts.
Have we found the top of S&P at 5110? The month of February saw an incredible bull run up to 5110.
The high was created on the 29th of February and as of March 1st, the high has not been broken. There is bearish divergence on D1 and H4.
The upward channel is at the risk of being broken after 2 months.
We have taken a short position at 5104 with a stop loss at 5150 and a reward of 4750.
Good luck!
AUDNZD Short idea - Diviregence 1H Time frameAfter a good bullish rally for AUDNZD, the pair reached the horizontal resistance zone combined there with a supply zone. From the perspective of RSI there is bear divergence on 1H time frame. It is a bit risky to enter in a sell position right now, but if we have a good candlestick confirmation it would be great. However, the stoploss could be outside the supply zone. The line for takeprofit 2 is the zone which I aim to close eventual position
GRTUSDT SHORT POSITIONThe price has successfully completed a three-drive pattern, and concurrently, there is a noticeable formation of a rising wedge pattern and I shouldn't forget to mention that the strength of each new upward wave has weakened compared to its previous wave. Additionally, the confirmation of a bearish movement is evident through the observed RSI divergence.
please follow and support for more
ETHUSD (D) may experience a decline to the $26K-$26.5KCOINBASE:ETHUSD ETHUSD may experience a decline to the $26K-$26.5K
ETHUSD (D) may experience a decline to the price range of $26K-$26.5K. This assessment is grounded in the following observations:
RSI divergence at both the peak and trough of the recent uptrend indicates a weakening bullish pressure relative to selling pressure.
The non-breaking of the MA50 support on the initial attempt is a typical response but also suggests a reevaluation of the prevailing trend.
The abrupt and notable decline, swiftly moving from the $26K price range to $22.4K, raises substantial concerns compared to the preceding ascent.
Despite a robust price increase, recent volume has not demonstrated remarkable strength, highlighting the presence of numerous unsustainable FOMO factors.
RSI resides in the overbought zone, signaling the potential for a price correction at this stage (yet to be confirmed as a trend reversal).
The nearest price support zone lies within the range of $26K-$26.5K, presenting an opportune level for this corrective phase.
Price wants 5KProbably see 5K Monday but it won't last long. In the PRZ now.
Bullish enthusiasm from Friday's madness likely to persist through Monday morning. Top could be in by noon Monday, if it's not already.
Notice RSI diverging... every trip to the PRZ weakens RSI, fewer and fewer issues pushing higher... won't be long now.
Astonishing how short memory is, seems to last just hours or even minutes... FOMC? What FOMC?
That was so yesterday man!
JOLTS?! What JOLTS?! That was at 10 AM and it's 10:30 now, fogeddaboudit, BTFD!!
Loook man, META announced 50c dividend! Let's drive the price to $500 that's only 1K x Dividend, what a bargain!
I'll gladly pay $500 to get a 50c rebate!!