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Rsi_oversold

AUDNZD Long: Expanding Wedge Complete at Critical LevelGreetings traders! AUDNZD has reached an important level. The 4H shows a nice expanding triangle that may add support near a potential point E. On the daily chart, there is strong support from a parallel channel. In addition to this, we have two precisely confluent fib levels (1.272AB=CD and 1.5AB extension). Since I'm seeing some pin rejection at the base of the channel, a tight stop may be placed below the pins. If price makes new lows, it is time to re-evaluate. If not, it may be possible to catch a larger move toward the missed monthly pivot for June which would mean major pippage and a trade with great R/R. Bullish Confluence: Expanding wedge support 1D Parallel channel support RSI Oversold 3 missed pivots above price, including an unhit pivot for June Happy trading!
Long
by glennmercer
1
EURUSD - Trend Continuation Price drops right at previous structure level and bounce from it - like a magic :) I'm closely watching the kill zone(derived from the several bounces of price) because it will provide nice level for hopping on the bullish trend. I need price to make another retest of the zone and this forming a double bottom - with left bottom being with RSI OB. Stop will be really tight ... and see what risk/reward factor we've made. You can shoot for 2nd target next strucutre level (blue dotted line)
Long
by Aleksandar_Rose
XAUUSD Bullish Gartley PatternBullish Gartley pattern setup on 4hr Gold chart. Entry level D point at 1.27 ext of AB has already been tested once, however the market has not yet reached the target 1 level so entry is still valid if you are not already involved in the trade. There is also a double bottom/RSI divergence opportunity setting up at the D point of the Gartley pattern. Targets for the Gartley pattern will depend on the traders style. In this particular trade targets 1,2 &3 offer about a 1:1, 1.75:1 and 3:1 reward to risk respectively.
FX_IDC:XAUUSDLong
by AndrewNatter
EURGBP, Long based on EMA, RSI, Fibonacci and MACD, 4h chartEURGBP Has had a retracement form the current uptrend, and has seemed to flatten out, which is a sign of reversal. The point where the price has flattened out is at fibonacci 38,2, as well as between EMA 100 and EMA 200. The price has respected these EMAs multiple times earlier. MACD are starting to show bullish signs, as well as RSI is struggling near oversold zone, on a support where it usually has been rejected. Will be using Fibonacci 38.2 and 50 for entries, with previous top as TP. Level below EMA 200 will be SL. Enter at market: Entry: around 0.794 SL 0.785 TP 0.81 Order: Entry: 0.789 SL: 0.785 TP: 0.81
Long
by AndreM.Moldegard-Eriksen
AUDUSD: Multi SetupGood day everyone! We have a very nice 2h AUDUSD chart ready for the next week. 0.7243 is a key resistance level and 0.7010 is a key support level. In addition there is a very nice diagonal support (red trend line) which was broken recently. This is an overall view of the chart. Now let’s go in depth and build our setup. There is a very nice bullish Bat pattern which is almost completed. The completion level is 0.886 fibs of XA leg @0.7091 which is a nice support level as well if we look left. The red rectangle at this level is our PRZ (Potential Reversal Zone) where our buy limit order will be placed and stops will go about 15-20 pips below X. The best entry zone will be between 0.7110 and 0.7091. Our first target will be 0.382 Fibonacci of AD leg @0.7156. If we look this level carefully this level is a neckline of a double top, left top is A point and the right top is B point; so this will be our potential target 1. The second target is somewhere in 0.618 Fibonacci of AD leg 0.7196 and resist level 0.7156. Now comes a very interesting setup, where we are going to go short. The current setup is called 2618; which means the price has broken a neckline of double top, then it reversed and hit 0.618 fibs level which is a signal for bears to wake up. So we will do, our sell limit order will be placed at this reversal zone and stops will go above the key resistance level 0.7243. Our first target will be 0.7091 and the second target will be the key support level 0.7010. For additional confidence look at RSI, the price is at the OS (oversold) level, if we look left we see that this level acts like a support. Besides there was a divergence for double top pattern. In conclusion, this is our technical analyses for AUDUSD. Good luck and let’s see what the market does. -- www.rcpforex.com
by RCP
Long GBPJPY: Bat + Crab Complete at Weekly Trendline SupportGBPJPY has entered the PRZ of two bullish patterns on the daily chart. The PRZ aligns with both horizontal and trendline support which may add to the potential for reversal at this level. Multiple unhit monthly and weekly pivots sit above price and may help pull price toward target. To add to bullish bias, MACD has produced bullish divergence and RSI is oversold. Entry is placed at crab completion with SL below horizontal support and targets at the unhit January, 2015 pivot and the 50% retracement of the bullish bat CD leg. Bullish Confluence: Bullish Bat Bullish Crab Weekly horizontal support Weekly TL support Multiple missed pivots above price Bullish MACD divergence RSI Oversold
Long
by glennmercer
Long NZDCAD: Bat + Crab + S/R + MA SupportNZDCAD is nearing the completion of two confluent harmonic patterns within a tight PRZ. A heavy S/R zone sits below the PRZ for added support. 200 EMA and SMA lines may add support as well. To add to bullish bias, RSI is oversold at current levels. Entry is placed at the bottom of the PRZ with target at .382CD and SL below the S/R zone. R/R = 1.44 Confluence in the PRZ: Bullish bat pattern completion Bullish crab pattern completion 3BC projection 2AB=CD 200 SMA Support 200 EMA Support RSI Oversold
Long
by glennmercer
Long GBPJPY: Alternate Bat at Trendline SupportGBPJPY has completed a bullish bat at strong trendline support. This allows for a 5:1 R/R because a break and close below the trendline nullifies the trade. In addition to the pattern completion, there was a strong breakout from a 1D trendline that may potentially be retested. A missed pivot cluster may add to the bullish bias. We also have bullish RSI divergence printed, which is also oversold. Entry at current levels with SL below structure lows and target at the .382 retracement of the CD leg. The target is confluent with the missed pivot cluster. Confluence in the PRZ: Bullish alternate bat pattern complete Strong daily trendline support Missed pivot cluster at .382CD retracement Bullish RSI divergence RSI Oversold Possible retest of breakout line
Long
by glennmercer
2
Long EURUSD: 1H Bat Complete in 4H Gartley PRZEURUSD has completed a bullish bat pattern inside of the PRZ of a larger TF bullish Garltey. Moving into the bat PRZ, RSI and MACD have printed bullish divergence. To add to the bullish bias, an unhit pivot cluster sits above price and coincides with .382 retracement of the Gartley CD leg. Targets are placed at .382 and .618 retracements of CD. SL is placed below Gartley point X and outside of the PRZ of a potential bullish crab pattern. Confluence in the PRZ: Bullish Gartley pattern completion 1.272BC (Gartley) AB=CD pattern completion (Gartley) Bullish bat pattern completion 2BC (bat) 1.618AB=CD (bat) Unhit weekly pivot above price Unhit monthly pivot above price Bullish RSI divergence Bullish MACD divergence
Long
by glennmercer
2
GBPAUD - POTENTIAL BULLISH BAT BULLISH CYPHER - 240M Hi All, I posted this the other day just to keep it on the radar. After my post we now have a potential Bat as well as the cypher setting up here for a Long Opportunity. BAT Pattern has Fibonacci Extension Confluence levels - Minor 1414 and Major 1618 and also a 127.2 Fibonacci Inversion from the Cypher A to B leg. It also completes close to the even handle 2.15000 and 88.6% completion - with AB=CD I have also marked in 2 green arrows for the Previous Resistance zone which became support which you can see from our X Leg. Cypher D completion has a 127.2 Fib Ext and Minor 1414 confluence. And 78.6% completion Depending on your rules and which patterns you trade, you can look for aggressive entry on either pattern or a signal which will provide you with more confirmation of reversal. If we continue downwards I would hope to see the reversal around the Bat D Completion which will provide us with a better risk reward profile. I havent put in the entry stops and targets in this trade, you can use the A to D leg retracement of the BAT and look for targets at the 38.2% and 61.8% and also base it around the structure levels where we know price is most likely to retrace and retest at. Cypher you would do the same but using the C to D leg for Retracement levels 38.2% and 61.8% - depending on your rules and targets it will determine your entries stops and targets. The only thing we need to keep in mind with this is the next level of support on this TF if we break below X Check your filters Happy Trading
Long
by Oztrade