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Rsi_overbought

May take a breather hereGood day folks, TLT has been on a very bullish ride since November, however it should correct a bit in the short term. The RSI is in the roof and resistance started to show up at 122. There is also a gap to be filled at 116, which is my target. Following is my position: CALL TBT 2019JAN18 36.00 (filled @ 0.43$) *I will be at the cottage next week and it is fairly isolated, so I won’t be able to update. I will monitor my position from time to time using a signal booster, but that’s all. Have a wonderful Christmas with your family and friends!
NASDAQ:TLTShort
by tipere445
Are we reeealy "oversold" Be careful with that wordHistory has shown many time that the word oversold can be very misleading, especially for people thinking this is the bottom. I have made the mistake of falling into this trap and thinking prices can't go lower so this is a reminder to myself and others to be very careful believing this word to be truth and factual. Its the Relative Strength Index ( RSI ) not the OverBought/Oversold Index. Don't believe people who say we will go up or down because of RSI, you can get rekt like that. Use it as a piece to the puzzle to form an opinion, not as a factual buy signal. Key word = Strength RSI is divergence is one of the most important things you could learn in regard to RSI. Great luck and please like/share the post if you found this insightful! Please share ideas if you see holes in my TA, it will help me and the people reading this. Thanks! I'm no pro and I will make mistakes so its always great to get 2nd and 3rd opinions after mine. Joey Rocket Cryptos
BITSTAMP:BTCUSD
by GhostRyeder
3
A bunch of clues on AUDCADHi guys, it's been a long time without posting. I've continued doing some analysis on the italian section but i've not had the time to publish my analysis here also. I'll try to publish more on the following weeks. I'm back with a very interesting analysis on AUDCAD. I'm not used to trade on Friday but i wanted to bring you something because i think it represents perfectly my idea of an ideal trade. Starting from the daily chart, this pair has been lately on a big downtrend, and is now having a relief rally that led it to test the actual levels that are a major reference point on that chart because of the structure (looking left). With this in mind, i want to go down on lower timeframe and find confirmations toward my short bias. As soon as you get to the 4H, you'll see we're overbought on the RSI and the price has completed two important patterns (a Gartley, and an AB=CD) in the same spot. Moreover, on the hourly timeframe (the one you see above), there's a double top forming up that can be our trigger point for a short trade. Stops would go above the double top, targets as shown on the chart. If you have any idea/comment, feel free to write below. Otherwise, see you in the next chart!
Short
by Roker1
2
Bitcoin Daily Update (day 243)I believe that it is possible to beat the market through a consistent and unemotional approach. This is primarily achieved through preparing instead of reacting. Click here to learn more about how I use the indicators below and Click here to get my complete trading strategy! Please be advised that I swing trade and will often hold onto a position for > 1 month. What you do with your $ is your business, what I do with my $ is my business. My recent Bitcoin Bubble Comparison - 3 Day Chart led to the following calls: < $5,750 by 11/15/2018 & my prediction for the bottom is $2,718 by 1/20/19 | My Bitcoin Bubble Comparison - Monthly Chart closely mirrored my price and time targets | Calling for $35 ETH before the end of 2018. Previous analysis / position: “If you are not in a position then opening a short at $6,300 - $6,315 provides favorable risk:reward. A stop loss slightly above $6,400 makes a long of sense” / Short USDT:USD from 0.0968 (order set at 0.97 to exit at a nominal loss) | Short ETH:USD from $197.81 & Short ADA:BTC from 0.00001129 Patterns: Symmetrical triangle with $5,492 target if it breaks to the downside and $7,101 target if it breaks to the upside Horizontal support and resistance: Prior support is expected to become resistance from $6,345 - $6,385 | S: $6,300 BTCUSDSHORTS: Pulling back hard, will it find support above 28,500? | Could this be the last squeeze before the trend starts? Funding Rates: Longs pay shorts 0.01% | Do not think funding has been this out of balance towards longs in all of 2018 Short term trend (3 day MA): Price above and angling up = bullish | Trying to make bullish crossover with 8 MA (signals medium term trend along with 3 week) Medium term trend (3 week MA): 3 & 8 MA’s are angling up but price is below = neutral Long term trend ( 34 Week): bear Overall trend: If 3 day crosses 8 that will make me short term bullish (although I will wait for much more confirmation before looking for a bullish entry). Definitely don’t like being against the trend with my shorts Volume: gfy FIB’s: Broke through 0.618 at $6,312 and 0.5 at $6,345 | Next up is 0.382 at $6,378 Candlestick analysis: Just took out daily shooting star. I was really hoping that the top of that wick would hold as resistance Ichimoku Cloud: 4h cloud is fatting up after a bearish kumo twist. Shows thick resistance from $6,340 - $6,478 unless we can breakthrough the thin cloud before | Broke through 1h cloud on this last move | Daily cloud is right above the down trend line. This has saved me before, the area between the cloud and the bear trendline indicates a potential area for a bull trap TD’ Sequential: D g1 | 4h g5 | Had a small 1 candle correction after the g9 on the hourly, now g2 > g1 Visible Range: Testing point of control for 2018. There should be a ton of built of resistance in this area Price action: 24h: +0.088% | 2w: -1.66% | 1m: -11.52% Bollinger Bands: Testing MA right now. MA is angling up which indicates that it is less likely to act as resistance Trendline: Bear trend: $6,475 | Bull trend: $6,200 Daily Trend: bull Fractals: Created new down fractal at $6,300 RSI: One hour RSI is very overbought (> 80) while we are trading at major resistance. Very strong indication of a reversal Stochastic: 4h is overbought, agrees with 1h RSI Summary: I rarely put any emphasis on the 1h hour chart. However I have the 1h & 10m RSI's to be very helpful for recognizing when we are overbought or oversold on a short term basis. After the price broke through the daily shooting star as well as the 4h shooting star from the prior candle I was very worried that we would pump right back through $6,400. Now I am feeling cautiously optimistic. Being overbought at major resistance is generally a very strong sign of a short term reversal. If you took the position that I outlined yesterday then your stop should still be safe (for now) and I don't see any reason why that should be adjusted now. If you are still on the sidelines then this could be a great opportunity to build a short and use a tight stop loss. We are at a very significant resistance cluster and this was the original area where I suggested an entry from two days ago . Setting a stop loss anywhere from $6,450 - $6,550 makes a lot of sense based on horizontal and trend resistance.
BITMEX:BTCUSD.PShort
by Sawcruhteez
Titanic *SPOILERS*: It's gonna sink!You can see that T5 is a confluence/intersection zone for 3 pitchfork channels, a green horizontal resistance line, D1 EMA 200 and RSI Bands. We're overbought on all TFs, not just the daily, maxed out on RSI Bands, so the only way is down. We will consolidate/move sideways for a few days until the futures expire (between 7500-7800), then have a some sort of a sell-off. Another small move upwards to touch/break EMA200 and the upper channel of the triangle and pullback quickly with a long wick on top is possible after RSI cools off. We didn't get overbought on D1 even in April, we won't now. In 2014 we went as high as D1 RSI 73, that's why I consider this last leg a possibility. And just now we also got a double top at 7800 supporting a pullback. Good Luck! This in not a financial advice, please use at your own risk! Confirm or Disprove using other ideas.
COINBASE:BTCUSD
by RagingRocketBull
5
BTC to 10K? The possibilities (update BTC)Hello everyone Today I’m back with some more TA . A lot to talk about today. Let’s get straight in to this. - So first I would like to talk about what happened today. We saw a nice big green candle, we went up with +/- 4.5%. We’ve got rejected at our first resistance at 7.8K like I’ve predicted in my last idea. This resistance line is to big at the moment. We can clearly see that two resistance-lines are crossing at the 7.8K mark. If volume stays the same, then my guess is that we will go down to our first small support at 7.3K. - I think that BTC will pass the downtrend resistance line in a couple of days after we see a small pull-back. If that happened, 8.4K is our next resistance line. - Another remarkable appearance at this moment: The crypto market is going up, the crypto market cap is going up, and BTC-dominance is going up aswell?! This is strange because this never happened in the past before, when crypto went up, btc-dominance went down. If crypto went down, BTC-dominance went up. That is because the volatility of BTC was less than the volatility of the altcoins . This means that less and less people are interested in altcoins, that BTC volatility went up and that the market is getting mature. - I think that we are in a small upwards rally at the moment because of the ETF-news and the fact that institutional investors are getting interested. The etf-news is feeding the bulls atm. - BUT: the RSI and Stoch RS I is telling us some bad news. They are both incredibly high, which means that BTC is overbought for sure. That’s why I’m expecting a small pullback to our first support at 7.3K. Prediction So I expect that BTC will see a small pull back tomorrow or the day after, if we can beat the first resistance line, it will be only a matter of time to hit our next target at 10K. - I will wait until the 7.8K level has been passed, if we can hold on above the 7.8K, I will set an order at 8K. That’s safely above the 7.8K level, stoploss at 7650. Give it a like if you appreciated it comments and thoughts are always welcome My orders are my thoughts and are no financial advice!
BITFINEX:BTCUSDLong
by cheynos
Trading Pumps in a Sideways MarketWe've been trending sideways a lot lately. We mostly have pumps and long consolidations, not a proper trend. So, here are some tips on how you can trade and survive in this market. There are 2 basic ways of trading sideways trends. I'm using the M15 chart to illustrate. 1) Treat everything as a range. Trade breakouts from the range. Place Buy Stop orders above the new highs and Sell stop orders below the new lows and wait for the price to come to you and trigger one of your orders instead of going long/short inside the range to chase the price in either direction. Take profit immediately after the move ends. This way: - you don't have to pay interest for open positions inside the range (sometimes sideways trend can last for days and just maintaining the position becomes more expensive than the potential reward) - you don't care much about direction and teases/fakeouts, you are ready to go either way when a breakout happens - you don't have to manage opened positions and worry about breaking even if market changes direction and goes against your positions On the chart: Green Arrows - Stop Buy Orders Red Arrows - Stop Sell Orders Green dots - a Buy Stop order is triggered, a long position opened, Lime dots - Exit point to take profit Red dots - a Sell Stop order is triggered, short position opened, Magenta dots - Exit point to take profit When price is above EMAs and going up: - look for long entry points, ignore shorts - place a Buy stop above each new high/top - place a Sell stop below 50% retracement of the entire swing or below EMA 100-200 or below key support level (such as 6000) When price is below EMAs and going down: - look for short entry points, ignore longs - place a Sell stop below each new low/bottom - place a Buy stop above 50% retracement of the entire swing or above EMA 100-200 or above key resistance level (such as 6000) The idea behind is that in a strong trend/after pump we usually have 23.6-38.2 corrections, rarely 50%. So, going past 50% after pump usually results in fading and reversal. EMA 200 roughly splits the bear/bull markets. When price is crossing the line far enough it usually means a reversal. EMA 100 is a sort of median line and price tends to come back to it (just like bollinger and pitchfork median lines) EMA 50 is a rough meandering path for the price Don't place orders within the range because the market can always change direction, sudden moves inside the range and traps (yellow spots) can trigger your orders and then go in the opposite direction. It's not perfect but it works. 2) Trade based on RSI overbought/oversold levels. RSI is very useful in ranges and during corrections and doesn't help much during trends, because it's an oscillator. - note prev extreme RSI levels, is it mostly oversold or overbought? - if RSI is mostly oversold (below 30) its curve may not reach the overbought 70 level, you need to adjust the RSI channel to 20-60, where 60 is the new overbought level. Go Long at oversold level 30 or below, Exit/Go Short early at RSI 60 or at the overbought 70 if reached. RSI below 60 is considered a bearish market. - if RSI is mostly overbought (above 70) its curve may not reach the oversold 30 level, you need to adjust the RSI channel to 40-80, where 40 is the new oversold level. Go Short at overbought level 80 or above, Exit/Go Long early at RSI 40 or at the oversold 30 if reached. RSI above 40 is considered a bullish market. - note that RSI does not include the wicks, only bodies (candle close price). Horiz movement cools off. RSI. Arrows on RSI show when to go long/short. Nested Red/Green Rectangles on the chart illustrate the MTF RSI oversold and ovebought concepts. When D1 and all other TFs are RSI oversold/overbought expect the strongest buy/sell reaction because of a colossal support/resistance due to price compression. 3) Don't trade, stay on the sidelines and wait for trend change confirmations Good Luck! This is not a financial advice. Use at your own risk!
by RagingRocketBull
RSI and crypto trading - DASH example - 100% success rate?What do I look for when using RSI? Using RSI, you can get a framework of when to get into a trade or not. In my experience, this strategy works more than half of the time. So if you are using the proper risk, this strategy should be profitable. In this particular example, the strategy actually worked 100% of the time. Past performance does not guarantee future results. 1. Look for RSI to be reach an oversold level..the furthest below 30 the better. 2. It may be tempting to 'buy the bottom', but not yet! Instead, watch for divergence on a subsequent low. THERE is where you want to get in.... the second oversold RSI reading that is equal to or greater than the first RSI reading. Also, the price obviously must be much lower on the second RSI reading, than the prior lower RSI reading. 3. Set your target... Many times, the corrective bounce travels 1 - 2.618 times the price difference between the corresponding RSI lows. For example: May 8 - RSI 26.6 and price $417 May 11 - RSI 28 and price $378 417-378 = 39 May 14 - RSI 65 and price $444 444-378 = 66 ..... 66/39 = 1.69 Also, as you can see, the 100 MA is a pretty good place to target. AND RSI getting over 60 is a good indication is has run its course. 4. Repeat. This is the 3 hour time frame, but I find this works in most time frames, it just depends on how long you want to stay in trades. It can also be applied counter trend bullish and bearish. When I see this divergence flipped, I use it to know to close a trade or reduce positions. Hope I explained it well enough. Any questions or comments, please have at it. And a like and/or follow is much appreciated. My timing has been pretty good with these lately, but not many people are actually seeing the charts... Thanks for viewing. Travis JMJ - UIOGD
BINANCE:DASHUSD
by Procinctu
1
Short pattern on USDCHFHi guys, i've been looking at this pair often lately, and i'm still looking to sell this because i think we need to see a relief rally before eventually continuing to the upward direction. At this moment, we're testing a very strong resistance level, both weekly and daily, and we're doing so in overbough condition (heavy overbought). On a lower timeframe, such as the 4H, you can see price is still overbought and has created a nice reversal pattern in the form of a pinbar + an engulfing to the downward side. I'm taking this short, with stops and targets as showed. If you have any question/idea, feel free to share it below. Otherwise, see you in the next chart!
Short
by Roker1
7