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Rsidivergence

Trade Ideas Position: GBPJPY SharkA bearish shark setup that coincides with ABCD pattern formed as a counter-trend trade, conservative traders can wait for a confirmation candle to engage the trade. The additional advantage of this setup is having an RSI divergence on this setup and on the higher timeframe, it is also within the sell zone that was formed by a bearish bat and a bearish crab pattern(link to the connecting chart at the bottom). Beautiful setup and opportunity but it don't guarantee a fall of this pair, it's good to know that there are so many setups align at the same zone at the same time.
Short
by RaynLim
BitFink's Trick For Finding TargetsBitFink posted a very clever way to use RSI divergence on long term BTC to find tops and bottoms of the macro 4 year structure: I was looking at using this on shorter time frames and it seems like it's especially useful for finding the exit in conjunction with an elliot count. In this example once you have your 4 wave candidate you can look at the symmetry on RSI Divergence to find about where it's looking like wave 5 ends. Targets are usually the hardest thing for me so this is very useful. It seems like using this for entries might be a little unclear since it's selecting the crossovers in the middle where RSI is the most choppy. My favorite elliot location to enter is on the 4 wave anyway so this will be a great tool to use going forward.
BITSTAMP:BTCUSDEducation
by mljones
6
BTCUSD Short - Rising WedgeHi folks, I’m going to keep this one short and simple. - There is this big rising wedge on Bitcoin that can be easily seen on the 12 hour time frame. - Price is also at a critical resistance zone where I expect distribution. - Bearish divergence can be seen on RSI and MACD. - Market sentiment is starting to get overly bullish which typically leads to a correction. I am looking to short from here with a stop loss just above 10,000. 1st target is at the 0.236 fib (around $9,000) but I am anticipating further retracement. As you know I have been bullish since $6,500 and made the perfect call to go long in previous ideas seen below. I am still very bullish on the long term and I am prepared to close out my shorts as soon as it appears the downside is over. Previous ideas:
BITFINEX:BTCUSDShort
by tommyf1001
1
Gold Chart is like Pattern Lesson. 6-7 patterns in one graphWhen we look at XAUUSD 15 min chart, we can see 7 different pattern/formations. From beginning in purple; we can see double bottom and than jump up. Right after that in red; descending triangle forms and than decrease in price. After one and a half day, bear flag forms in yellow. When the bear flag completed, pink cup formation happens and price jumps to highest for the day. By the time cup formation, RSI shows some tired moves. When the price increases RSI keeps descending and indicates bearish moves. After two bullish formations, we can see the bearish flag in green. At the formation of bearish flag we can also spot the fake breakout in blue.
OANDA:XAUUSD
by Emrut