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Rsi_overbought

Is Euro about to fall? I think so!Hi guys, here you can see the 4hr chart on EURNZD, i'm about to short this market and i'll briefly explain you why: firstly, the black line stands for a daily & weekly level of structure, that acted as support in the past, secondly, the RSI is overbought in this timeframe and it's showing some divergence on the daily chart. In addition to that, there's an AB=CD Pattern (with 1,618 extension) that's already completed (however in this large timeframe we can have some buffering before reversing). The last but not least signal comes from the chart itself, in the form of an engulfing candle (highlighted with the red arrow). As you see, there are multiple reasons that make me think it's an interesting opportunity. But i want to get a better RR ratio so i'm waiting to see a pullback in order to get my entry. Stops above 1,62. Targets with structure. If you want to ask questions or share your view, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
2
Euro about to fall? That's what i thinkHi guys, here you can see the 4hr chart on EURNZD, i'm about to short this market and i'll briefly explain you why: firstly, the black line stands for a daily & weekly level of structure, that acted as support in the past, secondly, the RSI is overbought in this timeframe and it's showing some divergence on the daily chart. In addition to that, there's an AB=CD Pattern (with 1,618 extension) that's already completed (however in this large timeframe we can have some buffering before reversing). The last but not least signal comes from the chart itself, in the form of an engulfing candle (highlighted with the red arrow). As you see, there are multiple reasons that make me think it's an interesting opportunity. But i want to get a better RR ratio so i'm waiting to see a pullback in order to get my entry. Stops above 1,62. Targets with structure. If you want to ask questions or share your view, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
2
EURGBP: Low Risk Selling Opportunity Some greater than expected fundamentals have given us a very strong Euro today. Therefore, instead of trying to jump on the move late (a mistake that I've made more times than i'd like to admit while earning my trading stripes) I'm looking for area where the market may provide us with some release in the form of a counter trend trading opportunity. Here on the EURGBP, price action has made it's way in a level of previous structure resistance at the 0.8590's level and has created a Double Top pattern along with an overbought RSI & bearish Divergence. Thanks to the psychological number right above, we are now provided with a very low risk trading opportunity featuring a reward to risk ratio that is 3:1. Contrary to popular belief (aka what the internet tells you) most traders don't win at a very high rate. Outside of chat forums, most professional traders lose just about as much as they win (40-60%0. therefore what's more important than a high win percentage is a controlled risk and this trade represents a perfect example of such trade. Akil Stokes "plan Your Trade, Trade Your Plan"
Short
by Akil_Stokes
23
Counter Trend on USDCHFHey guys, this is a counter trend trade on USDCHF, so do not take it if it doesn't respect your own rules, it respects mine so i've decided to share with you. The yellow box represents a former daily level of structure, that acted as resistance in the recent past. As of now, price is finding troubles breaking through it, even if it seems to be a strong move. RSI is overnought on the 4HR chart, and we can see a divergence here on the hourly chart, along with an imperfect double top followed by an engulfing that broke a minor level of structure, i'm waiting for a small pullback in order to enter. Stops above the highs, targets with structure. If you want to share your view, or simply ask questions, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
Counter trend trade on USDCHFHey guys, this is a counter trend trade on USDCHF, so do not take it if it doesn't respect your own rules, it respects mine so i've decided to share with you. The yellow box represents a former daily level of structure, that acted as resistance in the recent past. As of now, price is finding troubles breaking through it, even if it seems to be a strong move. RSI is overnought on the 4HR chart, and we can see a divergence here on the hourly chart, along with an imperfect double top followed by an engulfing that broke a minor level of structure, i'm waiting for a small pullback in order to enter. Stops above the highs, targets with structure. If you want to share your view, or simply ask questions, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
7
Is it time to short GBPCHF? Let's seeHey guys, we were waiting for a nice selling signal on this pair, and maybe this is happening. Price has reached another key level of daily structure and the RSI is in divergence on the daily as well as overbought on this timeframe. Moreover you can see price action has given the first signal of rejection with a pinbar (long wick to the top) that could be additionally confirmed by the current candle that could be engulfing. Stops above 1,31. First target with at least 1:1 RR, second to be determined. It all depends on the current candle close. I'll keep you updated. If you want to ask questions or share your view, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
Short on GBPCHF?Hey guys, we were waiting for a nice selling signal on this pair, and maybe this is happening. Price has reached another key level of daily structure and the RSI is in divergence on the daily as well as overbought on this timeframe. Moreover you can see price action has given the first signal of rejection with a pinbar (long wick to the top) that could be additionally confirmed by the current candle that could be engulfing. Stops above 1,31. First target with at least 1:1 RR, second to be determined. It all depends on the current candle close. I'll keep you updated. If you want to ask questions or share your view, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
8
Trend Continuation Trade on CADCHFHi traders, today on CADCHF price is coming back to retest a key structure area where we can look for selling setups in order to follow the latest trend here. As you can see it's like an ideal setup, when you see price breaking a support that then turn into resistance and push toward a downward continuation. Of course, we need some sort of signal in that zone, being a double top, a candlestick pattern or whatever you want, as long as it respects your rules of engagement. I'll keep you updated! If you want to share your view or ask questions, leave a comment below. Otherwise, see you in the next chart!
Short
by Roker1
Another push down? Support turns into ResistanceHi traders, today on CADCHF price is coming back to retest a key structure area where we can look for selling setups in order to follow the latest trend here. As you can see it's like an ideal setup, when you see price breaking a support that then turn into resistance and push toward a downward continuation. Of course, we need some sort of signal in that zone, being a double top, a candlestick pattern or whatever you want, as long as it respects your rules of engagement. I'll keep you updated! If you want to share your view or ask questions, leave a comment below. Otherwise, see you in the next chart!
Short
by Roker1
GBPJPY in Structure. Will it hold?Hey guys, very few trading opportunities today on my radar. Here is one of the most interesting, we're on the daily chart and it's clear to everyone that we're about to make a decision. The structure you see looking left seems very important, and also the RSI way overbought make me think it's going to reverse. Nonetheless, you don't want to short such a trending market without additional confirmation, that's why i'm paying attention to the hourly and 4hr chart in order to seek for trading opportunities. I'll keep you updated! If you want to ask questions or share your view, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
2
GBPJPY in Key Structure Point. Will it fall?Hey guys, very few trading opportunities today on my radar. Here is one of the most interesting, we're on the daily chart and it's clear to everyone that we're about to make a decision. The structure you see looking left seems very important, and also the RSI way overbought make me think it's going to reverse. Nonetheless, you don't want to short such a trending market without additional confirmation, that's why i'm paying attention to the hourly and 4hr chart in order to seek for trading opportunities. I'll keep you updated! If you want to ask questions or share your view, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
Break of the Trendline on USDCAD!Hey guys, this chart is the hourly chart on USDCAD but my analysis starts as usual on the daily tf where we had a nice engulfing candle at previous resistance with RSI overbought condition. This give me a nice background to look for selling signals. As we go down on lower timeframes you can see the engulfing candle represents a sharp impulse to the downside that broke the ascending trendline. This means we can now look for shorting opportunities as it retraces back to previous structure. In this case it seems to form an AB=CD pattern that allowed me to outline a reversal zone where i can seek for trading opportunities. I'll keep you updated! If you want to ask questions or share your view, leave a comment below. Otherwise, see you in the next chart!
Short
by Roker1
Trendline's been broken to the downside on USDCAD!Hey guys, this chart is the hourly chart on USDCAD but my analysis starts as usual on the daily tf where we had a nice engulfing candle at previous resistance with RSI overbought condition. This give me a nice background to look for selling signals. As we go down on lower timeframes you can see the engulfing candle represents a sharp impulse to the downside that broke the ascending trendline. This means we can now look for shorting opportunities as it retraces back to previous structure. In this case it seems to form an AB=CD pattern that allowed me to outline a reversal zone where i can seek for trading opportunities. I'll keep you updated! If you want to ask questions or share your view, leave a comment below. Otherwise, see you in the next chart!
Short
by Roker1
2
Be cautious this weekend! Gaps can skip SLs!Hey guys, i've decided to use two different charts so that you can understand my process of reasoning. On the left hand side of your screen there's the daily chart on EURJPY and the uptrend is crystal-clear. However, we know that price usually doesn't move straight up or down, instead it creates retracements along the way. So this is obviously a counter trend trade. Nevertheless it fits into my trading plan and therefore i'm sharing it with you. After outlining the reversal zone on the daily chart, on the lower timeframes such as 4h we can start looking for shorting opportunities with confirmation. As of now we won't short because the uptrend is still strong, but as soon as price gives us a reason for entry we will be interested in selling this, also given the fact that the RSI is overbought in both the charts. Anyway, i'm not leaving trades open during this weekend (at least in EUR pairs), French elections could easily form gaps way beyond our stop losses level, and remeber that if price open above your stop loss you're going to be executed at the opening price. This way you can lose more than what you're allowed to risk. Pay very attention guys, don't gamble. If you want to ask questions, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
2
Be cautios this weekend! Gaps can skip SLs.Hey guys, i've decided to use two different charts so that you can understand my process of reasoning. On the left hand side of your screen there's the daily chart on EURJPY and the uptrend is crystal-clear. However, we know that price usually doesn't move straight up or down, instead it creates retracements along the way. So this is obviously a counter trend trade. Nevertheless it fits into my trading plan and therefore i'm sharing it with you. After outlining the reversal zone on the daily chart, on the lower timeframes such as 4h we can start looking for shorting opportunities with confirmation. As of now we won't short because the uptrend is still strong, but as soon as price gives us a reason for entry we will be interested in selling this, also given the fact that the RSI is overbought in both the charts. Anyway, i'm not leaving trades open during this weekend (at least in EUR pairs), French elections could easily form gaps way beyond our stop losses level, and remeber that if price open above your stop loss you're going to be executed at the opening price. This way you can lose more than what you're allowed to risk. Pay very attention guys, don't gamble. If you want to ask questions, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
Double Top with RSI Divergence on Daily Structure (EURJPY)Hey guys, this is the 1hr chart on EURJPY. As usual my analysis starts from higher timeframe, where you may see RSI is in overbought condition, and price action is now testing a key level of structure looking left. With that being the case, i want to seek for short opportunities on lower timeframes such as 4hr and 1hr. On the hourly you can see a nice double top with RSI divergence. Short with stops above highs, target1 at the retest of the lows, target2 to be determined (huge downside potential). If you want to ask questions or share your view, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
2
Double Top at Structure PointHey guys, this is the 1hr chart on EURJPY. As usual my analysis starts from higher timeframe, where you may see RSI is in overbought condition, and price action is now testing a key level of structure looking left. With that being the case, i want to seek for short opportunities on lower timeframes such as 4hr and 1hr. On the hourly you can see a nice double top with RSI divergence. Short with stops above highs, target1 at the retest of the lows, target2 to be determined (huge downside potential). If you want to ask questions or share your view, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
2
Follow-up on EURAUD trade! You can short with 2618!Hey guys, you can see my previous analysis on the attachment below. However, my intention with this pair is to short it, because price has reached the D completion point of a Daily Bat Pattern along with structure looking left and an oversold condition on the daily as well. I've already entered my short position and taken the first partial profit. So now i'm waiting to see a further continuation to the downside. In any case, if you're not involved yet in this trading setup there's now another chance to take the short side according to the 2618 strategy, that consists on selling the 618 retracement of a broken double top. First target would go at the test of the lows, second target possibly with the first target of the big Bat pattern. If you wan to share your view or simply ask questions, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
Follow-up on EURAUD trade! You can short with 2618!Hey guys, you can see my previous analysis on the attachment below. However, my intention with this pair is to short it, because price has reached the D completion point of a Daily Bat Pattern along with structure looking left and an oversold condition on the daily as well. I've already entered my short position and taken the first partial profit. So now i'm waiting to see a further continuation to the downside. In any case, if you're not involved yet in this trading setup there's now another chance to take the short side according to the 2618 strategy, that consists on selling the 618 retracement of a broken double top. First target would go at the test of the lows, second target possibly with the first target of the big Bat pattern. If you wan to share your view or simply ask questions, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
Double Top at Bat's completion?Hey guys, here as you can see on the left we've just completed a Bat formation, and also, price is in overbought condition. These two elements, along with the structure, make me think it could be the starting point of a reversal. As of now, on the hourly chart, price is creating a double top with RSI divergence. Let's see how the current candle close in order to decide whether to enter or not. I'll let you know. If you have questions, or if you want to share your view, feel free to comment beneath. Otherwise, see you in the next chart!
Short
by Roker1
4
Double top at D point!Hey guys, here as you can see on the left we've just completed a Bat formation, and also, price is in overbought condition. These two elements, along with the structure, make me think it could be the starting point of a reversal. As of now, on the hourly chart, price is creating a double top with RSI divergence. Let's see how the current candle close in order to decide whether to enter or not. I'll let you know. If you have questions, or if you want to share your view, feel free to comment beneath. Otherwise, see you in the next chart!
Short
by Roker1
NASDAQ 100 Index of US listed shares Potential TurnPointNASDAQ 100 Index of US listed shares GONE SHORT Sentiment changed at the end of last week and that sets up for a renewed run in equities. But just how strong will this move be? The chart does show the RSI in technically overbought territory. But there is a saying in technical analysis, overbought can always get more overbought. *Tensions with North Korea still simmering despite diplomacy talk... *New missile test comes after Trump warns of conflict... *etc... Overall Gone SHORT and jet again with no SL as there is always option to hedge if upwards direction continues for period X. Eventually looking for previous SwingLow where TakeProfit is devided into three Strong S/R areas TP1, TP2, TP3 (close to swing low). Enjoy the Ride
FX:NAS100Short
by iBrokers