USDJPY-Weekly Market Analysis-Mar21,Wk4Trendlines are amazing, there are many ways you can use them, for this instance I'm waiting for a shorting opportunity when the candle touches the red line but not closing above it.
When it hit the middle trendline, I'm going to shift my stop-loss to entry and once it reaches the bottom trendline, as long as it closes below the trendline, I'm going to keep the trade, if it doesn't, I'm going to exit my shorting trade and turn it to a buying trade.
Rsidivergence
EURUSD-Weekly Market Analysis-Mar21,Wk4After a week, EURUSD didn't create a new low on the daily chart. I'm waiting for a counter-trend opportunity. On the 1-hourly chart within the 4-hourly buy zone, there is an opportunity that awaits, at 1.1881 I'm waiting for a buying opportunity. Candle confirmation at that level became important to the trading setup.
SGEN Bullish DivergenceAs indicated on the chart, SGEN entered oversold territory at the end of October which was immediately followed by a Bullish RSI divergence. We can see that price just bounced at support line that has been holding strong since May and at the same time we received a bull signal from our MACD. SGEN is down over 40% since May and considering the strong bullish indications I believe this is an excellent buy opportunity.
KLR Bearish Divergence...Watch for break in supportIn late January KLR broke resistance and established a new support trendline. As you can see from the chart, KLR broke previous resistance in mid-January, at which time RSI crossed into overbought territory. Following this initial overbought indication we can clearly see a bearish divergence as price found higher highs numerous times while at the same time RSI found lower highs.
SPX, S&P 500, (1M) (1D) Extreme MACDAs we may see in the chart, MACD is historically high even vs the IT bubble...
We can also see MACD in daily is slowly going in a downtrend (just like it did in 07 untill it hit the absolute bottom in 08).
RSI is showing a bearish divergence as it keeps going in a down trend while prices trend higher, this type of pattern can also be seen in 99/00, 07/08 & 14/15 just before it fell.
$SXP Primed to Challenge All Time HighThere is a lot going on with this chart, and it all looks bullish. First, had a perfect retrace to the .618 fib after the crazy run to start the year. $SXP bounced well from that area and challenged the local high of the $3.80 range. We have retraced and bounced off of support in the $2.75 range. It appears that we are forming a nice cup and handle pattern here.
On top of all the above, there is a bullish divergence on the RSI along with a breakout. The 4h MACD is also turning bullish. This is all pointing to a serious price increase. If we break out from this handle, we should see the $3.75-$3.80 price again. The two diagonal lines at the top of the chart are resistance from previous all time high (Wick and close). If we can close above that, I fully anticipate a $5.00 $SXP.
Just a little bullish sign I usually use this chart to see the health of the stock market. The INDEX:MMFI is a good indicator to see if an uptrend is backed by the mayority of the stocks that play the market and not only the big caps leaders. This little divergence between the price action and its RSI shows that this indicator may go higher. Although, is a short term time frame so I'm still very cautious about getting in again.
Another good chart that I looking is the quotient SPY/UST, and recently it made a breakout to new highs. So, here are to bullish signals for the overall market. Still, the volatility is to high so, be very picky with the stock you buy or short.
GBP/USD Market Idea (2nd week of march)Hi Guys, this is just some idea that I worked on GBP/USD
This is in 1 hour time frame, there's still a possibility for the market to go down to around 1.38132 before going up to around 1.39255
please lemme know in the comment if there's anything that I could improve on
Notes: please take this idea with grain of salt, as I just learning to forex trading
Cheers :)
Bitcoin Falling Wedge & RD+Bitcoin has been seeing some strong declines over the past week. During this time, a classic falling wedge has been formed. Falling wedges are bullish patterns.
This is therefore a bullish potential trade on BTC .
There is also a divergence in RSI (RD+), which is another sign of an uptrend
On the chart I’ve marked two potential areas of resistance, r1 & r2.
Do your own due diligence.
TDI Indicator for Entry SignalTDI (Traders Dynamics Index) is a powerful tool that determine the entry signal This indicator consists of 3 important indicators a below
RSI (30, 70) Period (20) --> Green
MA (50) --> Red
Bollinger Bands --> Yellow with Blue band lines
How to use the above indicator is as below
When the Green cross the Red positively, this is a green signal to buy
When the Yellow cross the Red positively, this is a green signal to buy
When the Yellow moves above the Red line, the market in up trend. If the Yellow moves below the Red line, the market in down trend
Crossing the Yellow line of the lower RSI band from bottom to top mean time to buy, while Crossing the Yellow line of the upper RSI band from top to down mean time to sell
Crossing the Yellow line the average RSI line (50) means time to buy
When the Green line cross the upper BB means the trend is strongly going up. If the Green line cross the lower BB line means the trend is strongly going down
Easily can determine the RSI Divergence (opposite top or bottoms) with the stock. If opposite bottoms, time to buy and if opposite top, time to sell
Best buy signal is when the Green line cross the Red line positively after the existing of RSI Divergence at the essential level
BITCOIN Correction should be over soon. Bullish Signals Visible
BTCUSDT is currently in its correction phase after its intense rally upwards.
Currently BTC is trading inside this Falling Wedge which is an extremely bullish continuation pattern, wedge is confirmed by the dropping decreasing volume. Also, the price is taking support at the 200EMA and the RSI is showing a Bullish Divergence on the 4 hours chart.
All these are some good bullish signals suggesting the uptrend is to continue hence Soon a breakout over the upper trendline.
However Since its weekend so like every weekend we might see drop in prices hence there might me a slim chance that the price would go down the wedge but there are lots of support levels between 38k and 42k.
The Support at 40k,laying on the 0.786 fib extension of the 'A' corrective wave is the strongest and its highly unlikely that the price would go below that. BUT anything could be possible so always use stoploss and this is just an idea so lets see what happens. I hope a bullish breakout happens.
All suggestions and corrections are welcomed :)