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Rsi_overbought

AUDCAD back to structure: short time!Hey guys, this analysis may come too late, for this setup met my rules for entry at the previous close, but i want to share it anyway because maybe the price will come back to retest the entry zone. And there i will be waiting for my orders to be filled. Price is testing a daily resistance zone (blue box) and it's already OVERBOUGHT, that's when i start to look for trading opportunities down on 4hr and 1hr charts. This time we put an engulfing kicker on the 4hr chart. If you follow me you would remember one or two shorts on this pair last week, i got stopped out both times. But keep in mind, the last trade doesn't change your overall edge on the market. Don't be affected by the last trades' results. My order will be placed at 1,0061s Stops and targets as in the chart above. If you have any question or remark feel free to write it below. Otherwise, see you in the next chart.
Short
by Roker1
Has AUDUSD's rally come to an end?Hey guys, very simple: we had a very long rally on AUDUSD, RSI is deeply overbought. Price is testing previous daily structure that seems to hold. If the current candle will close below the previous opening, this is a sell. Unfortunately i'm already involved in two AUD trades, so i can't take this one. Hope someone can exploit this situation. No brainer trade, mostly for the possible huge risk to reward ratio (if you split your position). Make your choice! If you have any doubt, please comment below. Otherwise, see you in the next chart!
Short
by Roker1
6
GBPJPY Longer term outlookHey Traders ! Feels like its been forever since I posted, markets have been providing me with little opportunity so there hasn't been much to post, and If I posted ever idea that I had, then this would be a signal service instead educational content. Today I want to give you guys a look at GBPJPY. So I have been following this pair for quite a bit now and its been on a strong bullish move along with EURJPY and USDJPY. The reason I never thought of a short trade was because we were not at a major level of S/R. We were in the middle of no mans land and this is something that I talked about in our latest Forex Insider View Click here to check it out on youtube. So in the video I go over how I use specific candlestick formations to give me my reason for entry ONLY when we are pressing up against major S/R and how its important to be able to identify the difference. The good thing about GBPJPY right now is that we are just starting to press up against a level of support now turned resistance, on top of that we have the 61.8 retracement in confluence with the 1.272 Inverted Extension, So now that we are pressing up, I can start looking for reasons to get in short, now keep in mind this would be a Counter trend Short without extended targets. It would only be a push down lower till we reach support and then continue onto new equity highs. Its possible you might see a double top on the daily so be careful for that as well, EURJPY just double topped and then made a move higher. Keep in mind, these are IF/THEN predictions. Meaning, I am not predicting what the market will do, I am preparing myself for whatever the market decides to do. So I will not rationalize a short just because I think it might give us some temporary relief, I will only enter IF the trade hits all the checklists. Hope this helps , Like always if you have any questions feel free to comment below !
by TheAlcoveFx
2
Time Warner (TWX) Heading for Crash?Technical: It seems TWX stock is now heading for a disaster, looking at the monthly and weekly charts, we have just completed a very lengthy correction, over several years in the making. My Elliott wave analysis for this pair, shows that if the current trend continues, the next impulse wave will send the stock to a crash. MACD confirms the end of the current upmove (the correction) and will now start to continue in a bearish trend. RSI and Stochastic, both indicate Overbought condition which aligns with the downward trend on the chart. Fundamental: Due to the continual irresponsibility of CNN management, employees not checking sources, stories and basically broadcasting irresponsible journalism and basically perpetuating political bias (where no doubt stakeholders have also been offended), the market is fast losing confidence as, once President Trump enters the White House after the official inauguration, legal and federal action will most likely be taken against the broadcaster and several anchors, thus the value of this stock will drop considerably, very quickly. CNN has already been caught out numerous times in broadcasting fake news, all based on innuendo and rumor, without being fact based. This last episode today (12-Jan-2017 goldengatepee), originally published by buzzfeed, is noted as being totally fake. CNN's management have also failed to address this problem, as it seems anchors and journalists are making core decisions, rather than CNN's management. In my opinion, CNN is in an absolute mess and stakeholders are getting cold feet. The only way to save the stock, would be to address political bias and lazy journalism, something I cannot see happen anytime soon. Therefore in lieu of the above analysis, I'm going to short this stock, trading with larger than usual lot size in order to maximize profit. If this trend is confirmed within the next couple of months, we should see a very rapid drop, at least to the base trendline, within a relatively short amount of time. ---------------------------------------------------------------------------------------------------------------------------------------------------------- DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar. Please do not trade this chart if you do not have your own strategy. Trade only with your own strategy. Some very wise words: Plan your trade and trade your plan... and IF in doubt, stay out. .....::::: If you like this chart, please click on the THUMBS UP ! :::::..... ----------------------------------------------------------------------------------------------------------------------------------------------------------
TShort
by UnknownUnicorn661419
Double Top with RSI divergence on AUDUSDHey guys, on AUDUSD we are retesting the daily structure level that was a former support. Now that's been broken as you can see on the left hand side it could turn into resistance and provide a possible turning point for the bearish continuation. When price approached zones like this i use the 1hr or 4hr chart in order to find some good opportunities to short the market. On the right hand side you can see in the hourly chart we have a double top with rsi divergence. In the 4 hour chart RSI has recently crossed the OVERBOUGHT condition, giving us more confidence on this trade. The completion of the double top, for my personal rules, is given by the engulfing candle that you see above with a blue arrow. Stops above the highs, first target at 1:1 and second target along with structure for a longer term position. Let's see. If you have any question or remark, write below. Otherwise, see you in the next chart!
Short
by Roker1
RMBS Potential ShortI have been following this stock for a long time and have made great returns with it. The pattern scheme between the chart and the RSI can be used to predict an upcoming downtrend in the price of RMBS. Once the RSI exceeds 75 the chart bounces as the RSI levels out. This leveling out process takes about 20 bars (1 D) and then drops again. The MACD is also showing bearish signs. Any feedback or suggestions would be greatly appreciated! Also: Many of the drawings were done prior to movement in the chart. For example, my prediction of the "Stop Fall" in green was done prior to the chart actually stopping at the line.
NASDAQ:RMBSShort
by FrancescoChiappe
1
Sample RSI setups on #USDCADThe RSI can be a great trading tool if used properly. Most Traders use it for an overbought/oversold indicator and that is the worst use of the RSI. As you can see from the chart, there are multiple short term trade setup in this one hourly chart. Although I am only showing 3 examples there are many more setups on this chart but did not want to make a mess of the chart. I will continue to post RSI trade setups and RSI educational information in the future as time allows.
by CurrencyWaves
2