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Rsi_overbought

🐻📉 AUDUSD Alert! Bearish Bat Pattern Signals Sharp Correction 🚨 Attention traders! We have an exciting bearish setup on AUDUSD that you don't want to miss. Our previous bullish setup on AUDUSD was a resounding success, allowing us to secure profitable gains. Now, it's time to switch gears and capitalize on a new opportunity as the tide turns bearish. 📉🦅 The formation of a bearish bat pattern, coupled with two strong confirmations, suggests a sharp correction is on the horizon. The bearish bat pattern has emerged, indicating a trend reversal. This harmonic pattern is known for its high success rate and presents an excellent opportunity to capitalize on the downward movement. confirmation n°1 : Adding to the bearish thesis, the last candlestick has formed a rejection pattern precisely at the resistance level, highlighting significant selling pressure in this area. This optimal entry point allows us to ride the anticipated sharp correction. confirmation n°2 : Furthermore, the RSI indicator is currently in the overbought zone, signaling a potential shift in momentum. This further supports the bearish setup and increases the probability of a downward move. To take advantage of this setup, I recommend entering a short position around 0.68775. Our first take profit level is set at 0.67900, which coincides with a liquidity pool where potential support could be found. Our target stands at 0.67000, representing a significant downside potential. Keep in mind the importance of proper money management. It is essential to respect your risk tolerance and avoid risking more than 2% of your account on any given trade. Stay disciplined and protect your capital. 💰💪 Feel free to share your toughts in the comments section, follow me for updates and don't forget to press the like button if this insight was helpful 🚀
Short
by Thomas_Zito
28
ENVX - Army Swiss Knife X FactorA Couple things to note is Enovix has been on a steady rise and has had bullish catalyst released. It's on the hook to hit the next leg. Lame pun for the Hook showing on the chart pattern "The advanced silicon battery company said the deal is for it to produce commercial cells for use within U.S. Army soldier's central power source, called the Conformal Wearable Battery. Enovix said the agreement moves the program toward full volume production. The cells will be used to build pre-production CWB packs." - MarketBeat This launched the stock price to $19 ON JULY 6TH. It helps that spy has been pumping making new highs. I feel it will rise in the next few weeks with spy being on an extreme bull run and ENVX following a similar pattern. ENVX, RSI on close to oversold, Williams showing the stock is curling. ENVX is currently aligned with SPY and have the same exact pattern It may run up with SPY so long as it remains bullish. Expect it to touch at least $25 but theres a lot of turbulance up there as thats where it's been consolidating in the past. General consensus PT is $38. Others have placed as high as $100. has an average rating of buy and price targets ranging from $15 to $100, according to analysts polled by Capital IQ. Trade Responsible, #TradeTheWave
AMEX:SPYLong
by FinesseTheWave
🐻📉 Dow Jones Alert! Optimal Short Entry at Resistance 📉🐻🚨 Attention Dow Jones traders! An exciting bearish opportunity has presented itself in the current market environment. The price action on Dow Jones is exhibiting a clear range-bound behavior between the resistance level at 34500 and the support level at 33500. As the price reaches the upper boundary of this range and forms a rejection, it signals an optimal entry point for a potential short position. By taking advantage of this setup, we can aim to capture profits as the price heads towards the lower boundary of the range. Adding further credibility to this bearish thesis, the RSI indicator aligns with our analysis, acting as a solid confirmation of the potential downside move. Its current positioning strengthens the case for a short position, supporting our overall outlook. Trading opportunities like these allow us to harness the power of range-bound markets and capitalize on price fluctuations within defined boundaries. With a strategic approach and disciplined execution, we can navigate this setup with confidence. 💼💰 Remember, risk management is crucial in all trades. Assess your risk tolerance and adjust your position size accordingly. By staying disciplined and adhering to sound trading principles, we enhance our chances of success. 💪💼 Feel free to share your toughts in the comments section, follow me for updates and don't forget to press the like button if this insight was helpful 📉🚀💰
BLACKBULL:US30Short
by Thomas_Zito
3
📉🦇Bearish Bat Pattern Sparks Market Fears on Dow Jones! 📉🦇After successfully bagging over +1000 points on a recent Nasdaq buy, it's time to switch gears and follow the bearish trend on Dow Jones. The bearish setup is crystal clear in the 1-hour timeframe, as price has formed a bearish bat pattern - a proven and reliable harmonic pattern with a high winning rate. The trend reversal has been confirmed by a bearish candlestick: a bearish engulfing, signaling that the late bulls have been trapped and the bears have taken control. The icing on the cake is the impending crossover of the 9 and 21 moving averages, which will intensify the selling pressure. Additionally, the RSI has hit a significantly overbought zone, further indicating a potential sharp fall ahead. I have my sights set on three take profit levels. First, I'm targeting 34150, where I'll be locking in some profits. Next, I'll be aiming for 33950 as my second take profit level. And finally, my target is set at 33650, as I expect a satisfying drop in price. Get ready to ride the trend reversal and make the bears dance to your tune! It's time to capitalize on the bearish momentum on Dow Jones! 📉🐻💰 Feel free to share your toughts in the comments section, follow me for updates. And dont forget to press the like button if you think this insight was helpful !🚀
OANDA:US30USD
by Thomas_Zito
24
🛢️ USOIL: Bearish Breakdown Ahead! 🐻📉Get ready for an exciting bearish setup on USOIL (Crude Oil) that could potentially yield attractive profits. In the 1-hour timeframe, a compelling AB-CD pattern has emerged, signaling a strong trend reversal opportunity. The pattern's completion at 72.00 provides an optimal entry point for those looking to capitalize on a potential downside move. Adding to the bearish case, we've reached a critical supply zone where the 0.786 Fibonacci retracement level resides. Historically, this level has acted as a significant resistance, reinforcing the potential for a downward move. The RSI indicator indicates that the market is highly overbought in this area, hinting at a potential increase in selling pressure. This alignment of technical factors enhances the bearish scenario. In terms of candlestick patterns, last Friday night witnessed the formation of an inside bar break down. This bearish candlestick pattern strengthens the case for a potential decline in price. Considering all these elements, a strategic selling opportunity presents itself at the market opening. However, it's important to monitor for any potential price gaps above the supply zone, which could alter the trade setup. To maximize potential profits and manage risk effectively, we have identified several take profit levels along the way: 70.00, 68.50, and 66.70. These levels provide attractive exit points for traders to lock in gains. With a well-rounded analysis of technical indicators, candlestick patterns, and supply zone considerations, this bearish setup on USOIL offers an enticing opportunity to take advantage of potential market downturns. Happy trading!📉✨ Feel free to share your toughts in the comments section. And don't forget to press the like button if you think this insight was helpful 🚀🌟
TVC:USOILShort
by Thomas_Zito
3
Exact sciences corp Exact Sciences is a biotech stock that is overpriced. It's time to sell We touched 3 times the resistance line of a rising wedge pattern, impulsive wave pattern, and RSI 71 weekly overbought zone, the Q2 doesn't seem good. A leg down to 60$ retesting 69$ which is the resistance line of a rising wedge dropping below 40$ and based on the Q2 announcement either we drop hard to 25$ zone or we bounce back to 0.886 FIb 146$ zone which is a sign of a bearish bat pattern please take note that I'm not a financial advisor
NASDAQ:EXASShort
by MarketPax
3
GBPUSDHello everyone, I have a good idea for selling GBP/USD. There is a perfect trendline on the 1-day time frame, along with a strong order block on the same time frame, and a Fibonacci retracement level of 61%. Additionally, there is a strong resistance level on the RSI (Relative Strength Index), and I have observed a divergence as well. Furthermore, the dollar index is currently at a strong support level. It's important to manage your risk effectively. Good luck to all!
Short
by Toukhy
3
Counter-Trend MoveThis could be for you if you are waiting for a counter-trend move. A Bearish Gartley Pattern is expected to complete at 1.2605, but the earliest for that is on 12 Jun 23, 1200(utc+3); any earlier than that, the trade would be invalid. If a break and close above 1.2605 occur, I will wait for an M.C confirmation at 1.2659 on the ABCD pattern. Both of these Harmonic Patterns are counter-trend moves. On GBPUSD, that means a pullback trade. Overall, my sentiment remains bullish on the GBPUSD.
Short
by RaynLim
EURJPY correction inc; RSI/BBAND/STOCH/HAIKEN ASHIInstructions: 1) The Relative Strength Index (RSI) shows that the asset is temporarily overbought/oversold, suggesting a possible trend reversal. 2) Bollinger Bands indicator shows that the asset is currently in an upper/lower resistance/support zone. 3) The Forex Stochastic Oscillator (Stoch) helps identify buy and sell moments based on comparing the current price with the price range over a specific time frame. 4) In addition, I use Heiken Ashi candles, which help to see the trend in a smoother and smoother way. Intervals: D1: . 1) RSI above the 70 level 2) Price is at the Bollinger band 3) Stoch above the 80 level (while, there is still no dominance of the sell line - red) 4) Haiken Ashi still candle color green - we can wait H4: 1) RSI above the level of 70 2) Price is on the Bollinger band 3) Stoch above 80 and the red sell line is dominant 4) Haiken Ashi still candle color green - we can wait Conclusions: Based on the analysis of RSI, Bollinger Bands, Stoch and Heiken Ashi candles, it seems that the EURJPY asset may be at a turning point. On the other hand, it is still worth waiting for stronger confirmation of weakness. Stop Lose: Under the top of the Bollinger band +10/15pips. SL will be set at breakeven after a 10/15pips rise.
Short
by Manticore_Investments
USDCAD moment of correction; RSI/BB/STOCH/HAIKEN_ASHIInstruction: 1)The Relative Strength Index (RSI) shows that the asset is temporarily overbought/oversold, suggesting a possible trend reversal. 2)The Bollinger Bands indicator shows that the asset is currently in an upper/lower resistance/support zone. 3)The Stochastic Oscillator (Stoch) in forex helps identify buying and selling moments based on a comparison of the current price with a price range over a certain period of time. 4)In addition, I use Heiken Ashi candles, which help to see the trend in a smoother and smoother way. Intervals: H4: 1) RSI above lvl 70 2) Price on Bollinger Band 3) Stoch above 80 and Sell Line (red) is on top of Buy line (green) 4) Red Haiken Ashi candle is building H1: 1) RSI close to lvl 70 and indicator is poiting down (sell) 2) Price bounced from Bollinger Band 3) Stoch above 80 and Sell Line (red) is on top of Buy line (green) 4) Red Haiken Ashi candle is building Conclusions: Based on the analysis of RSI, Bollinger Bands, Stoch and Heiken Ashi candles, it seems that the USDCAD asset may be at a turning point. Stop Lose: Above top of Bollinger Band +10/15pips. SL will be set up on break even after 10/15pips profit. Target: 1.355
Short
by Manticore_Investments
AMZN - a short short is coming?In recent times, the stock price has been increasing exponentially, but it appears that the RSI level of 70 (purple line) has halted the upward momentum. If the uncertain market sentiment continues, the stock may weaken towards the lower Bollinger Band (orange line) and the 50-day moving average (gray line), reaching approximately 107-108 (green circle). It is important to note that during this period, the 200-day moving average around 104 (turquoise line) and later the lower RSI level, in the case of a steady decline, at approximately 100, could provide support for the stock price. However, everything can be overridden by the debt ceiling agreement and the FOMC meeting, of course.
NASDAQ:AMZNShort
by BostonTrendLab
RSI Forex: A quick review of the market situationWhat is RSI: . RSI, or Relative Strength Index, is a momentum indicator that is used to measure the strength of a trend. RSI works by comparing the average profit and loss over a specific period. It is primarily used to identify moments of overvaluation or overestimation in the market, allowing investors to enter the market with a much greater chance of profit. RSI is expressed on a scale of 0 to 100, with a value above 70 usually indicating overvaluation and a value below 30 indicating overvaluation. However, there are many other ways to interpret RSI values. Use in practice: . Here are some ways to use RSI in forex trading: At the bottom of the chart: RSI indicator Red dotted line: Level 70 Green dashed line: Level 30 Blue solid line: RSI level Entry signal - The appearance of RSI values below 30 or above 70 can indicate the possibility of entering the market. When the RSI exceeds the 70 level, we expect prices to fall and can open a short position. Conversely, when the RSI falls below the 30 level, we expect prices to rise and can open a long position. . Divergence - In the case of divergence, which is the difference between the behavior of the price and the value of the RSI, we can look for signals that the trend may reverse. For example, if the price is rising and the RSI value is falling, this could indicate a possible trend reversal and a signal to open a short position. . Use of the neutral zone - Some traders use the RSI neutral zone (between 30 and 70) to identify the trend. If the RSI remains in the neutral zone for an extended period of time, it may indicate the absence of a trend. However, if the RSI leaves the neutral zone, it may indicate the emergence of a new trend and a signal to open a position. . In conclusion, RSI is a very popular and effective technical indicator that can be used in forex trading. However, like any other indicator, the RSI is not perfect and requires closer analysis in combination with other indicators. Our dedicated Manticore Investments strategy is based on a combination of 3 indicators, which together provide a very effective position entry signal. We use Haiken Ashi Candles, RSI and Bollinger Bands. In future materials we will show how to apply this combination in practice.
CRYPTOCAP:BTC.DEducation
by Manticore_Investments
Relative Strength Index/RSI Made SimpleThe RSI (Relative Strength Index) is like a tool that helps people who buy and sell stocks and other things to figure out how strong the price of something is. It works by looking at the prices of that thing over a certain period of time, like 14 days, and then putting those prices on a scale from 0 to 100. 🔸When the RSI is high, like over 70, it means the price has gone up a lot and might be too high. When the RSI is low, like under 30, it means the price has gone down a lot and might be too low. But just looking at the RSI by itself is not enough. While many traders do use the RSI to buy at the 30 level and sell above the 70 level, this is not the only way to use the indicator. (As shown below) 🔸The RSI should be used in conjunction with other technical indicators and fundamental analysis to make informed trading decisions. In fact, relying solely on these levels can lead to missed opportunities and suboptimal trading decisions. 🔸It's also worth noting that the RSI can be used to identify bullish and bearish trends. When the RSI is above 50, it is considered bullish, indicating that the market is trending upwards. When the RSI is below 50, it is considered bearish, indicating that the market is trending downwards. 🔸While the 70 and 30 levels are popular levels to buy and sell, traders can also use other points based on how price reacts at those levels. For example, if the RSI reaches 80, it may indicate an especially strong upward trend, while a drop to 20 may indicate an especially strong downward trend. Traders should use their own judgment and analysis to determine which levels are most appropriate for their trading strategy. You can also find that as the name suggest (Relative Strength) traders should look for levels in price action where there is a strong reaction and then check to see at what level on the RSI this occurred because it might happen again once we got to that RSI value. (As seen below ) So as you can see in the image above you do not need to wait for price to go to levels 80 or 20 in order to look for reactions you can look at how price has reacted at previous levels before and monitor those levels in the future. Finally lets talk about divergence. 🔸RSI divergence is a trading strategy that involves looking for differences between the movement of the price of an asset and the movement of the RSI indicator. When there is RSI divergence, it means that the price of an asset is moving in a different direction than the RSI indicator, which can signal a potential change in trend. There are two types of RSI divergence: bullish and bearish. Bullish divergence occurs when the price of an asset is making lower lows, but the RSI indicator is making higher lows. This can suggest that the price of the asset is oversold and may be due for a rebound. Conversely, bearish divergence occurs when the price of an asset is making higher highs, but the RSI indicator is making lower highs. This can suggest that the price of the asset is overbought and may be due for a correction. Traders can use RSI divergence to help them make trading decisions. For example, if they see bullish divergence, they may consider buying the asset, while if they see bearish divergence, they may consider selling the asset. However, traders should always use RSI divergence in conjunction with other technical indicators and fundamental analysis to make informed trading decisions. Example is shown below: 🔸Settings of the RSI: Traders can customize the settings of the RSI to suit their trading style and preferences. They can adjust the number of periods used in the calculation, which can range from as low as 2 to as high as 200 or more, depending on the timeframe being analyzed. In addition to the default settings, traders can also adjust the overbought and oversold levels of the RSI. By default, the RSI is considered overbought when it is above 70 and oversold when it is below 30. Traders can adjust these levels to suit their trading style and the specific asset being analyzed. Traders can also add other indicators on top of the RSI to help them analyze the market. For example, they may add a moving average to the RSI to help them identify trend direction and potential areas of support and resistance. ______________________________________________ Also keep in mind that the RSI can be used as a reversal tool and also a trend trading tool. For example, when the RSI reaches extreme levels of overbought or oversold, it can signal a potential reversal in the price trend. When the RSI reaches these levels, traders can look for other confirming indicators or price action to help them decide whether to enter a trade in the opposite direction. On the other hand, as a trend trading tool, traders can use the RSI to identify the strength of a trend and to help them decide when to enter or exit a trade. When the RSI is above 50, it can indicate a bullish trend, and when it is below 50, it can indicate a bearish trend. Traders can use the RSI to help them identify potential areas of support and resistance within the trend and to enter trades in the direction of the trend. It's important to note that traders should not rely solely on the RSI to make trading decisions. The RSI should be used in conjunction with other technical indicators, such as moving averages, and fundamental analysis to get a complete picture of the market. By using the RSI as both a reversal tool and a trend trading tool, traders can better identify potential trading opportunities and make more informed trading decisions.
Education
by ChristopherDownie
8
Possible short on EURJPYHi! This is my first post, and do let me know if you think I'm wrong on any of this. As we can see on the RSI indicator, EJ pair is curently very overbought. Furthermore, we're facing a probability of a double doji close on 1h chart. Currently, EJ seems very exhausted, and to me it seems like it is only a matter of time before it tests resistance at TP1 and TP2. Whatever happends after, I do not know. If you read this, please flame me in the comments, but do give a like (I really want to be able to use the chat function :)) Good luck!
Short
by kamildx4
1
Bitcoin and the SQuare RooT (SQRT) Function: Facts, DeductionsAs my title indicates, this plot highlights facts above all: - Bitcoin price follows "Square Root" channels (SQRT function) - All with an alternation of local Dips (each time higher than the previous ones) and new All Time High (ATH) - These cycle Dip always materialize by an RSI 14 under a value of 34, showing an oversold (see my analysis of 2018-12-18 in link below) - These ATH always materialize by an RSI 14 exceeding a value of 84, showing an overbought - There is a clear correspondence with the Halvings dividing the block rewards by two for the miners, which is a programming of the progressive scarcity of generation of BTC. So much for the facts. Now here are my deductions: - I have extended the layout of the SQRT channels to 2023: we are seeing a tightening of the price there, but beware, we are on a logarithmic scale! All the same, there emerges a new ATH > $ 60,000 followed by a potential local Dip which would remain higher than the current price. - An average of the timing differences observed between the different Dip cycles allows me to consider the point of fall for a next Dip within 20 bars. - This analysis is a little more pessimistic than my previous ones, while noting that it would still not be possible to buy 4-digit BTC (under $ 10,000) from 2022. So those who buy BTC currently will necessarily be winners on HODL. DISCLAIMER: This is not investment advice. Invest only what you can afford to lose. Do not listen to any "prophet" or other "evangelist", it is important that you make up your own mind.
BNC:BLX
by MaxHodler
21
BTC/USD - Interesting times ahead with an Ascending ChannelBTC/USD 1 day chart quick update. Here is a closer look at this 1 day chart. BTC is in an Ascending Channel Pattern. BTC is still in a Falling Wedge Pattern. BTC is still in a Descending Channel. BTC is still in a massive Ichimoku Y Wave Pattern. At the moment of typing this, BTC is fighting to stay back above its 200MA. If BTC CLOSES this or tomorrows daily candle ABOVE the 200MA and stays above it, and we see a successful re-test of the 200MA as strong support, then we could see BTC attempt to break out of its Falling Wedge Pattern upper trend-line. Note that BTC has not closed above its 200MA since Monday 27th December 2021. Note that BTC is also back in the Bullish Zone of its Ichimoku Cloud. Looking at the Bollinger Bands, we can see the Bollinger Bands Upper and Lower Bands are expanding away from each other indicating increased volatility for the upside because the Middle Band is also pointing upwards. The Price is also walking up the outside of its Upper Band. Looking at the Relative Strength Index (RSI) we can see that the RSI is in the Overbought Zone on this 1 day timeframe. The RSI is still above its 9 Period EMA. With the RSI in the Overbought Zone doesn’t mean it will drop as the RSI line can range sideways for a prolonged period of time. Interesting times ahead if BTC manages to CLOSE this daily candle ABOVE its 200MA and then its Falling Wedge Pattern’s upper trend-line. A successful re-test of these 2 levels as strong support will be further confirmation that the bottom is in and a new uptrend has started. Note that after such a huge rise, maybe not yet, but we should expect at some point a correction downwards on this1 day timeframe. Who knows, if this continues, we may eventually see a Golden Cross on this 1 day timeframe when the 50MA crosses back above the 200MA. I hope this is helpful with your trading and hodl-ing. Correction on chart as i had the wrong trend-line signed above for the Ichimoku Y Wave lower trend-line. Below is the correction. Apologies.
BINANCE:BTCUSD
by TradingThroughTheLens
1
1D BTC chart and volume volatilityThis is how I see it. Two months ago when FTX crash happened, it created a hole in daily S/R levels, as we can see on VRVP on the right, which was easily used to rise the price again, but no significant increase in volume between big moves. The brightness of the candles on my chart is showing volume per candle. Last three days, we got new highs without volume. Judging by the BTC dominance, those highs were created by bleeding from the alts. So... We had the last local bottom on Jan 1st, and it was at the -45 RSI level. Since yesterday we have printed local top at 100 RSI level and reversal of the trend on my indicator. And a hole in VRVP remains. All that tells me a big correction is needed to get another big leg up. If not, a new low.
Short
by RockinHood
4
4 signals shows that BITCOIN is overbought.In this chart we see many signals that indicates that Bitcoin is overbought and that the price will soon be corrected and go back down. - A trendline connected 3 corrections, but then the price rallied, thinking it doesn't has to come back to the trendline, meaning it is too bullish and is overbought. - Candlesticks broke above the Bollinger Bands (BB), meaning there is an upcoming reversal. - RSI is above 70 (=overbought) - Bollinger Bands %B is above 1 (=overbought) Using the TBS Strategy, consider selling when the BB %B crosses down.
BITSTAMP:BTCUSD
by YanakTrading
1