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Rsi_overbought

Resistance at the upper side of the rising channelThe price have hit today resistance of the uptrend channel. In my opinion, there won't be enough bulls to break 19,5 EUR. I expect the correction of this rise, which will probably end at 14,60 EUR (38,2% fibo level)and if BTC price fall down, than the 11,5 - 12,2 EUR level is expected (61,8%). The RSI level is record high (overbought). Looking back we can see that, at ~95, the price begins to drop. However it's not the long trend reversal.
Short
by fosis
1
EURNZD has to decide where to go! Will it break or will it hold?Hi guys, just wanted to let you know that i'm watching attentively to this pair, since price is testing a very important structure level that acted as support and resistance many times in the past. As of now, i'm looking for weaknesses in order to short the market: notice that we're deeply in overbought condition and price is testing a psychological number (along with structure) so any other candlestick signal would make me sell at market. Nonetheless we should be ready to change our mind if price breaks the structure yellow zone so that we can take advantage of both the situations. Never be unprepared! Think ahead! I'll keep you updated. If you want to share your standpoint, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
Decision point on EURNZD! Up or down?Hi guys, just wanted to let you know that i'm watching attentively to this pair, since price is testing a very important structure level that acted as support and resistance many times in the past. As of now, i'm looking for weaknesses in order to short the market: notice that we're deeply in overbought condition and price is testing a psychological number (along with structure) so any other candlestick signal would make me sell at market. Nonetheless we should be ready to change our mind if price breaks the structure yellow zone so that we can take advantage of both the situations. Never be unprepared! Think ahead! I'll keep you updated. If you want to share your standpoint, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
Lots of concluence on EURCAD!Hey guys, i wanted to share with you this setup for i've found lots of different clues pointing in the selling direction. As you can see in the illustration above we have: Cypher pattern (already completed), daily structure, an engulfing shooting star candle, a round psychological number, RSI divergence and RSI overbought condition all together in the same place. Given the situation, i think i'll undoubtedly set my orders on and wait for price to trigger them. I'll keep you updated. As usual, feel free to comment if you want to share your standpoint or ask questions. Otherwise, see you in the next chart!
Short
by Roker1
3
What a cluster! EURCAD analysisHey guys, i wanted to share with you this setup for i've found lots of different clues pointing in the selling direction. As you can see in the illustration above we have: Cypher pattern (already completed), daily structure, an engulfing shooting star candle, a round psychological number, RSI divergence and RSI overbought condition all together in the same place. Given the situation, i think i'll undoubtedly set my orders on and wait for price to trigger them. I'll keep you updated. As usual, feel free to comment if you want to share your standpoint or ask questions. Otherwise, see you in the next chart!
Short
by Roker1
2
Potential Short Play : Exelixis Inc Exelixis has come to a stop after many months of upward movement, it is now consolidating around 52 week highs, and I am looking for a short opportunity on a large pullback. Reasons: - Class A bearish divergence on the weekly & daily chart (RSI, MACDL) + Acc/Dis (Daily only) - Accumulation/Distribution line has dropped below the 9EMA on the daily chart. The past two times this occurred the stock had a +10% pullback to the 20EMA - Overbought on the RSI, and has crossed below the 70 line after being above it for a significant amount of time. The past two times this occurred the stock also had a +10% pullback to the 20EMA Going short with a break of the ascending trend line, with a price target around $19.30 or the 20EMA.
NASDAQ:EXELShort
by UnknownUnicorn664841
AUDNZD look at this scenario!Hi guys, i want to explain to you why i'm going to short this pair if price pulls back a little bit more. As you may know audnzd has been moving upward without interruption: both in the daily and 4hr chart Rsi is in overbought condition, and this tells us that market is overextended and there's maybe some room to retrace and let the trend breath. Obviously i don't trade based off of only RSI, but it gives me a good indication of what the market could do. In this case we have different clues pointing in the same direction. First, we have structure at the black line level, together with a psychological threshold (1,0900): at this level you can see price has created a shooting star and then a nice engulfing candle. Also, there's a 618 retracement of the bigger daily leg that happens to be right at this level. With all those clues together i think there's no doubt. I'm going to short at the 1,09 level, with stops above the highs, and target1 at a 1,25:1 RR. Target2 to be determined more accurately. Good trading! Feel free to comment below for any kind of questions or if you want to share your view. Otherwise, see you in the next chart!
Short
by Roker1
2
The incoming trend reversal.Bulls and bears have created the doji candle on the monthly chart. The doji candle after long uptrend might foreshadow trend reversal. Moreover this doji candle is after a long white candle. This means there is imbalance on the market. The market is "tired". The bulls might not have enough strenght to keep uptrend. The maximum of the upper shadow is the resistance level ($1166). If its broken the uptrend will be continued. It will also show potency of the bulls. The RSI levels are almost at 80, so the market is nearly overbought. The more overbought the market is, the higher probability of the doji candle to reverse uptrend. To make matter worse for the bulls, there is double top formation. In my opinion the price will go back to lower shadow of the doji candle ($735), however if there are more bad news for BITFINEX:BTCUSD we can fall down to $450 level.
BITFINEX:BTCUSD
by fosis
Heed this killzone! USDCAD analysisHi guys, i'm already involved in a CAD trade so i'm not taking this one. Nonetheless i want to share it with you so that anybody could take advantage of this opportunity and maybe get something out of it. Here we can see price is giving us different hints of its reversal. First, it's right in the previous resistance zone (where sellers are ready to join the market), second, there's a Bat pattern completing there, in confluence with a .618 retracement of the previous bigger leg. In addition to that, you can see the RSI is overbought. The final sell signal comes from the shooting star that has been formed right now. Stops should be above 1,34 level, target1 at roughly 1,25:1 RR, target2 along with bat's target2. I'll keep you updated. If you want to share your viewpoint or ask questions, use the comment section below. Otherwise, see you in the next chart!
Short
by Roker1
3
Some confluence on USDCADHi guys, i'm already involved in a CAD trade so i'm not taking this one. Nonetheless i want to share it with you so that anybody could take advantage of this opportunity and maybe get something out of it. Here you can see price is giving us different hints of its reversal. First, it's right in the previous resistance zone (where sellers are ready to join the market), second, there's a Bat pattern completing there, in confluence with a .618 retracement of the previous bigger leg. In addition to that, you can see the RSI is overbought. The final sell signal comes from the shooting star that has been formed right now. Stops above 1,34 level, target1 at roughly 1,25:1 RR, target2 along with bat's target2. I'll keep you updated. If you want to share your viewpoint or ask questions, use the comment section below. Otherwise, see you in the next chart!
Short
by Roker1
Pay attention to this zone! EURCAD analysisHi guys, earlier today i've posted another idea about this pair, but the scenario is now changed. As you can see price broke through the previous support and it's now sitting right into previous resistance (that should also provide some selling pressure). In this resistance zone we also have some confluence: a bat pattern (just completed), a psychological round number (1,4100) and a 618 fibonacci retracement. Furthermore, the RSI is deeply overbought right now. All those reasons together make me think this could be a nice reversal zone for this pair. I'll let you know if i'm getting involved. If you have any questions, feel free to ask below. Otherwise, see you in the next chart!
Short
by Roker1
2
AB=CD completed right at Daily StructureHey guys, very simple trade, price has completed an AB=CD pattern on this pair, right at the most previous structure level. Also, it has created a nice long wick to the top candle that closed as engulfing, with RSI overbought condition in our support. Waiting for a little pullback in order to short the market and get at least a 1:1 RR on the first target that would be placed on the first AB=CD target (at the 382 retracement). Stops above the highest highs. Good trading! If you want to share your standpoint or ask questions, feel free to write below. Otherwise, see you in the next chart!
Short
by Roker1
Ready to sell on AUDNZDHey guys, this morning i want to share with you this setup i've noticed on this pair. Price has approached a resistance structure zone on Wednesday, and since then it's failed to create new highs and so it gave me reason to believe this is a good zone to short the market. In the daily chart we've recently exited an overbought condition and here on the 4hr chart you can see a nice divergence on the RSI. These are two clues that make me more confident on any particular trade. In addition price has created a double top with an engulfing kicker at the end of it. And pay attention also at the psychological round number that's sitting right there. I was waiting to see the marke open and for my rules it gapped too much, therefore i'm waiting for an additional confirmation of the sell. And there it is, another candle has closed engulfing right now. I'm selling this; stops above highs, target1 at 1:1 RR, target2 for extended target. If you have any question, feel free to ask below. Otherwise, see you in the next chart! Have a good week!
Short
by Roker1
7
Now NZDJPY is a short!Hey guys, after being correct in predicting the upward move on this pair (see attachment) we took our profit near 83.00. Now i changed my mind, just watching price action. I'll explain you why. Basically we are testing a strong resistance zone, both in the daily and in the weekly, therefore we could expect some strong resistance here. In addition to that, we also have a Gartley completion right there, together with AB=CD pattern and some Fibonacci extensions. The Gartley is very deep so it provides a very good risk to reward. Nonetheless, being a conservative trader, i want to see more confirmation. We've just entered a OVERBOUGHT condition and now i want to see a candlestick formation signaling selling strength like a double top or an engulfing candle. I'll let you know if i'm selling this. As usual, feel free to write below if you want to share your standpoint or if you want to ask questions. Otherwise, see you in the next chart!
Short
by Roker1
2
Very nice confluence on GBPUSDHey guys, this morning during my analysis i've spotted this nice opportunity to sell the pound against the dollar. Not often it occurs to see such a good confluence. So i thought i could share with you this outlook. As you can see above on the pound price is testing a daily structure level (blue rectangle ) that happens to be also a psychological number and the termination point of two different AB=CD patterns, along with some fibonacci confluence . Furthermore, you can see RSI went OVERBOUGHT and also that there's a Cypher that's been completed and it's still valid. For all those reasons together i think it could be a nice spot in order to find shorting opportunities in form of candlestick formations like engulfings or double tops. I'll let you know how it develops. Feel free to comment below if you want to ask questions or share your standpoint. See you in the next chart!
Short
by Roker1
4