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Rsi_overbought

TSLA - RSI is a pretty useful indicatorWith TSLA, backtesting the overbought and oversold signals of the RSI (especially the 80/20) shows it's been pretty reliable in providing buy and sell signals over a longish timeframe. Trading using the RSI alone is generally thought of as being a bad strategy, but with a couple of confluent signals it could be pretty useful here. Some stocks seem to favour the RSI more than others. We could also see some divergence (which I need more time to learn properly!) I'm learning Technical Analysis and how to trade generally, but this one seems like a strong signal to watch for this stock. Of course these types of signals would probably work much better while the stock market is generally strong. I'm always open to education, criticism or ideas!
NASDAQ:TSLA
by optimystery
2nd part of my scenario: a rising wedge = $9400 then $6900The first part of my scenario link below had an Ascending Triangle (in white) and its Pullback (in yellow) (RSI 14 oversold) with a bullish target @ $ 9400 early June. After that, I consider a bearish reversal at $ 9400 (RSI 14 overbought) with the formation of a taller Rising Wedge (in red) and its bearish target @ $ 6900. DISCLAIMER: This is not an investment advice. Do not listen to any "prophet". Invest only what you are willing to lose.
BITFINEX:BTCUSD
by MaxHodler
2
The importance of overbought RSI to play a seller topDecember 19, 2018, cf my Related Idea, I gave you the starting point of this new Bull market thanks (in particular) the RSI 14 oversold. It was then the first time he was (briefly) ironed under the 30 as a certain January 10, 2015. The 01/10/2015 was the departure of the previous Bull market: Bitcoin operates by cycles linked in particular to the anticipations of halving. Today, it's time to report that this same RSI 14 has just entered its overbought area 75-90. I underline here the fact that this has already happened 8 times since 2012, each time causing a break in the Bitcoin bullrun with each time a significant bearish correction, all clearly visible on my logarithmic scale. The RSI has so far entered this dangerous zone timidly, so there is still an interesting margin of pump still possible. However, note that the RSI has just dropped marking a (local?) top as my peak No. 4 in 2017 which had corrected sharply after. My chart also clearly shows the similarities with the top No. 2 of June 2016: same growth of the RSI from the same dip and correction without reaching its ATH end of 2013 (peak No. 1). But this time there is a very fast growth of the RSI without correction! So what the RSI is telling us today is that Bitcoin will not be able to reach the $ 20,000 without a correction at least as important as that of June 2016. For more information, RSI 14 should be regularly monitored in this configuration. In addition, the RSI invited us to compare the current situation with the peak of June 2016: note that the latter had the major resistance that I traced by a white line, which we unfortunately find today even to $ 9000, see my 2nd white line. DISCLAIMER: This is not an investment advice. Do not follow any "prophet". Invest only what you can afford to lose.
BITFINEX:BTCUSD
by MaxHodler
20
US30 Perfect Short H1 / H4 sell position at price 25680 /25700. Take profit at 25200 / Stop Loss at 25775 Last week was a bad week for the US Dollar. The currency shows weakness after several china-us trade war news, US company loses and US Home Sales below expectations among other bad News Releases. I expect a big downside momentum after taping on the 25700 / 25675 zone resistance. Technical analysis showing FIB 61%, MA 100 & 200 tap, Bollinger Bands overbought zone, RSI approaching 70% and downside trendline touch between 25675 / 25725 zone. The downtrend momentum should be strong enough to break 25300 and retest, setting Take Profit at 25200 massive resistance tap.
FX:US30Short
by pacheco1698
Bitcoin Next Stop after a bull runAfter taking out a few levels of Supply between 5200-5700, Bitcoin price came to a haul at around the 5800 region and started to consolidate. On larger timeframe it does look like a bull flag, if it does plays out, I see price going higher to challenge the next quality Supply level at 6000+ which the round number also stands for a mental barrier for buyers. On the hindsight, I am more bearish for Bitcoin to drop and properly test 5500 level one more round before breaking lower. On the hourly chart, a rising wedge is formed with RSI on both overbought and divergence. Taking into all the evidences gathered: - Exhaustion on the buyers after continuous rally for 4-5days - Extremely overbought on the RSI (hit 95/100 on the indicator!) - RSI Divergence - Rising Wedge Market either goes up or goes down, I am more geared towards being a seller at this point as I see more profit potential on the downside compared to the upside. Do like and share this post. Follow me if my trading style suits you as I will be posting new trade ideas and analysis regularly.
COINBASE:BTCUSD
by TradeWithWayneYia
SELL USDCHF RSI Way Overbought & Bullish Wedge PatternThe RSI indicator on the daily time-frame for USDCHF is showing way overbought. A bullish wedge has been forming since November 2017 and it looks like the top of the wedge was broken. One of two things could happen, price goes back for a re-test and bounces off the wedges upper level to rise up after the major resistance level around 1.0300-1.03250 or price pulls back to the previous swing high or even back to the bottom of the wedge. Trade Details : SL : 1.02500 TP 1 : 1.01100 TP 2 : 1.00500 *Don't forget to apply proper risk management!*
Short
by A1Investments
Be cautious with bitcoin...On the 4-hour chart there's a clear bearish divergence forming. While price is rallying higher, the RSI is telling us that the strength of the trend is weakening. This weakening of the trend is confirmed by bitcoins' shrinking volume. On the daily we can see that bitcoin is dangerously overbought. The RSI is at levels not seen since the 8th of December 2017. What about the daily Ichimoku Cloud? Glad you asked ; ) The cloud that has shown to be good support / resistance is falling out from beneath bitcoins feet. On the weekly the stochastic RSI is peaking. Waiting to cross over and smack down. Just like a lion waiting for its prey show a sign of weakness. When greed is high we as traders should be cautious. Best of luck! PGrijpink
BITFINEX:BTCUSD
by pgrijpink
7
double top + rsi divergence hey guys, dollar yen is still standing around a resistance line of a rising channel. we have a nice confirmation reversal pattern to sell the market. I will be waiting for a bearish violation of 111.7 to open selling position. the initial target is based on structure and support line of a rising channel. the second target is based on a lower support level. preferably you stop is above tops, however, you can also set it around 111.9 good luck!
Short
by VasilyTrader
GBPNZD DOWNTREND CHANNEL AND TRIANGLEFX:GBPNZD is in a downtrend channel. It had touch the upper resistance of the channel and triangle. The price could go down near the previous support, being the first take profit. If the price keep going down can be reach the 50% fibonacci extension of the trend, being as well the 88.6% ab harmonic pattern that could be formed in the future. The indicators like the RSI shows low strength going down and currency strength are both on 58 level. GBP stregth shows can be weaker than the NZD
Short
by Hectorrr
When to buy & hodl, when to sell & wait... in a simple equationIt's so cliché but... if Bitcoin was actually subject to repetitive cycles? According to this hypothesis, we would then have the following "algorithm" for investors: WHEN (RSI14 > 90) AND (MA9 > MA20) THEN IF(1st Occurence == True) THEN // Bear Trap! WAIT (OR... SELL and BUY the correction soon after) ELSE // 2nd Occurrence = Bull Trap! SELL and WAIT WHEN (RSI14 <40) AND (MA9 < MA20) THEN // Oversold RSI and EMA Cross Strategy BUY ZONE Too simple, too basic? perhaps... :) (What you can add a dozen other buying indicators by reading my related ideas)
BNC:BLXLong
by MaxHodler
2
EURAUD possible Short opportunity!Hello traders! In the last month the EURAUD has created a Resistance Trendline, that has been already tested 4 times. The price is slowly climbing up and I expect that the Trendline will be hit again, so we should expect a bounce down from that Trendline. Combined with climbing RSI that might be hitting the Overbought area soon and a MACD that is forming a cross, this makes a great Short opportunity. I wish you the best of luck with your trading :) .
Short
by JanMachacek
EURCHF possible Short opportunityIn the last 3 months the EURCHF has created a really strong Resistance line that is slightly declining. The price is getting close to that line again so we should expect an another bounce down from this line. Just mind that the lowest point of the last 3 months price consolidation was on the 2nd of january and from that point the next lowest points are slightly climbing up, so be careful when placing your limit order. RSI is going overbought. I wish you the best of luck with your trading :) .
Short
by JanMachacek