Get started

Stochastic RSI (STOCH RSI)

Smells like a fakeout…Looks like a fakeout…Is that the fakeout?Here on the XRPUSD 1day chart we have a pattern of a massive head and shoulders on xrp formed conveniently during a downward trend with a breakdown target of negative 20 cents. The Stoch RSI also bottomed out and is ready to travel upward again so there's not enough bearish momentum available to warrant such a breakdown. The downtrend makes it very unlikely a good head and shoulders because the h&s chart patterns that get validated are usually ones that act as reversal patterns at the top of trends not continuation patterns.Sure there are rare exceptions of when a continuation h&s happens but in reality those are just failed patterns that didnt trigger in my eyes. Still with it looking so obviously like a fakeout it makes one wonder if the whales are trying to fake us out with a fake fakeout...thats the only way I see something like this triggering. On the bitfinex chart this pattern is invalid but It appears to be valid for now on bitstamp,coinbase,and kraken. Its for this fake fakeout fakeout reason that I leave this idea neutral....but with a breakdown target of negative 20 cents, it seems like a ridiculous notion to believe it ever could be anything other than a fakeout.
BITSTAMP:XRPUSD
by DrDovetail
1
ETHUSD - Stoch RSI - Ride the TrendI have not tried this for many other pairs but this is working for me with ETHUSD on the 15 min chart. After looking at several indicators, entering in at the wrong times, being in long when I should be in a short or out, the frustration led me to really try to find where the best low to buy into would be, I discovered that if I set the Stoch RSI indicator with the following values and simply buy when the bottom K crosses D and ride the trend to the top and sell (short) when K crossed D at the top, it makes for a nice profit most of the time. Nothing is 100% foolproof when using one indicator so I recommend pairing it with a 1 or more you are familiar with. Pair: ETHUSD on Kraken (Can short in the US on that exchange currently) Many others are disabling shorting if you reside in the US. Chart: 15 Min Chart Indicator: Stoch RSI in Trading View K 85 D 14 RSI Length 19 Stochastic 125 If you buy in too far away from the crossing, you will be caught in the volatility from my experience. Paper Trade to feel comfortable and so far, when the whale hits, I am in the right direction. I am no financial adviser but simply showing and perhaps saving someone hours of analysis. Note: On a large dump or large move up, this will not buy in outside the Bollinger Bands, but enter in a less volatile and hopefully let you enter without instantly being in a negative. Good luck...
KRAKEN:ETHUSD
by JustinSchapansky
Dash ripe for a rebound; Potential inverted head and shouldersDash is experience a nice big green daily candle today which has allowed price action to climb back above the 1 day 50ma(in orange) We can see we also seem to be completing the right shoulder of an inverted head and shoulder pattern. I'm looking for a minor retrace here that retests the 1 day 50ma multiple times and keeps finding support there... if this occurs I will know that the 50ma(aka buy/sell line) has become solidified support thats when I will likely buy back in and then make my next decision at either the neckline of the inv h&s or if I see the price action somehow dip back below the 50ma and close 3 consecutive candles underneath it or solidify resistance. Judging by how the stochrsi on the daily is bottomed out and looks like it wants to start heading back upwards I'd say probability favors solidified support at the 50ma. Just my strategy of course if you are looking for financial advice you will have to go somewhere else as this is just my opinion. Thanks for reading!
Long
by DrDovetail
inverted head & shoulders pattern on the btcusd 4hr chart This inverted head and shoulder has a disproportionately long left shoulder but it is still valid we are currently testing the neckline. Judging by how overextended the stochrsi is on the buy side on the 4hr chart there are decent odds that this could be rejected here at the neckline but I'm pretty certain on the 1 day stochrsi we are in the oversold territory still so it may just break up from here...I'm gonna wait until I see a clear rejection and solidified resistance from the neckline before I exit my position if I had already sold before this then I would simply wait for a break above the neckline to turn into solidified support before buying back in. My personal strategy and not any sort of financial advice of course..good luck and thanks for reading!
BITMEX:BTCUSD.P
by DrDovetail
XRPUSD Pair about to trigger a gldncross on the 1 day & inv h&sTake a look at this picture perfect inverted head and shoulder setup on xrpusd's 1 day chart. Also take a look at how close the 50ma(in orange) is to rising above the 200ma(in blue) for a 1 day golden cross. Now factor in how the stoch rsi indicator has plenty of room to head upwards and is already suggesting its ready to do so. Lastly, factor in that we have already triggered a golden cross and inverted head and shoulder breakout on the xrpbtc pair...the golden cross on the xrpbtc pair has been sustained and didnt become a fakeout which is leading to huuuge leaps and gains over ethereum and btc...all this considered means the golden cross on the xrpusd pair should be sustained with similar results as well. While the rest of the crypto market has been in a free fall..XRP hs held steady making those gains against btc. Yet it hasn't been able to break out of the 48 cents-50cent range yet...once it sustains the golden cross on the usd pairing however we will definitely see it start to make 50-100% gains. First resistance will be back at the inv h&s neckline at 54-55 cents....once we break up from there the next target is the 75 cents range. This is of course just my opinion though so don't take it as financial advice for a financial advisor I am not. Thanks for reading!!
POLONIEX:XRPUSDLong
by DrDovetail
2
Bitcoin sitting at supportThese days have been a bloodbath in the cryptocurrency markets. These are the key support levels you could use to predict when it will reverse. RSI and Stochastic RSI for 1 Day and 4 Hours time frame have reached oversold. Should we fall bellow these keys supports, expect it to free fall to the 4000 dollars range, however it probably would not last long as people would probably stop mining, reduces the supply of bitcoin, and increase its price again. Good luck to you all!
BITFINEX:BTCUSD
by evntdra
PONY ShortUpwards breakout rejected. Short down at least to lower support line, in the $2.75 region depending on its rate of decline. Bearish cross on the daily Stoch, RSI very over sold. PPO moving down with some bearish divergence. Also remember that a rising wedge, particularly after some strong downward movement (as has just happened with PONY) is a bearish trend, and is much more likely to break down than up. This makes shorting the highs a lot safer than trying to buy at support. In this case, as I said, the first target is this lower line, with the hope no support is found and the pattern breaks downward. If that happens, our targets are the old areas of support found in the rising wedge (around $2.50 and $2.10) My opinion not financial advice
PShort
by green_brow
Two Outcomes.Looking at the 1day chart you can see that if we were to break upward here we would be forming a higher low on the 1 day chart and that also the inverted head and shoulder pattern is still in play. However the stochrsi on the 1 day chart has plenty of room to dip still. I think we could still be forming a 1 day inverted head and shoulder pattern however if we were to break downward from here I think we would bounce upward off off the bottom trendline of the symmetrical pink triangle as support around 6k. At this point either outcome is probable and thus this idea will be listed neutral.
BITFINEX:BTCUSD
by DrDovetail
1
Potentially inside a rising wedge.If this continues to play out this way there is a good probability this wedge could drop the price back down to the support zone of the 4hr 50ma(in orange). Whether or not the 50ma will maintain support if it breaks own tot hat level is the question. Of course we could always break upward too but I won't be confident of that until the 4hr rsi and stochrsi are low enough with the price action close enough to the 4hr 200ma(in blue) and the top trendline of the symmetrical triangle we are in (in pink) to be able to have enough momentum to surpass them both and trigger a breakout. As of now both those indicators could stand to be a little lower before the next upswing. If the upswing happens before they drop, it's very unlikely we will break out of the pink triangle.
BITFINEX:BTCUSD
by DrDovetail
A nice bounce up off the 4hr buy/sell line a nice bounce upward off of the 4hr buy/sell line, As I've said int he past once we've hit 5 consecutive candle closes above the buy sell line, it's usually more of a buying opportunity than a selling opportunity. We currently have nine 4 hr candles in a row above the buy/sell line(in orange). This also give the stochrsi and the rsi a chance to cool down to give them more room to climb here. What I'm hoping to see is for the candle to find a way to climb back above the 4hr t line(in yellow either by this candles close or at least by the candle following this one. If that happens that means this bull flag on the 4hr chart is still valid and the current red candle was simply a fakeout. If we don't get close to the t line by this candle's close however then there's a chance we could still fall under the buy/ sell line by the next couple candles, and if we closed 5 consecutive candles under that line we would be back in a sellers market on the 4hr chart. For now since it could potentially head either way I will keep this idea listed as neutral. This is as always not financial advice and simply a summation of what I plan to do for entertainment purposes only. Good luck and thanks for reading!
BITFINEX:BTCUSD
by DrDovetail
Potential Inverted Bart could take us back to $7300Just got a nice bull candle to end the day on the 4hr chart that took us above the current bearflag we were in and turned it into an inverted Bart. However, in order for this break to eb confirmed and not just a fakeout we need to see. the new 4 hr candle maintain itself above the 4hr t line(in tan). the potential climb is $7300 with the rsi and stochrsi where they currently are it's not out of the question for that kind of bounce...however until I see a series of higher low, higher high and a follow up higher low I won't be tempted to go long again on the idea strategy. I have indeed bought back in here at 6750 after exiting round 7632. However I will probably safe guard myself and exit again after this bounce then only entering again if we have another huge plummet or we form a higher low/higher high/higher low sequence. Just my style and not meant to be financial advice..so far it seems to be working out for me. The Cup and handle on the eve bottom seems rather unlikely now but technically not invalidated until price dips below bottom of the cup...however I think there's still a chance of the adam and eve double bottom being valid...or potentially us forming a triple bottom....the double bottom is definitely questionable at this point with this low of a dip however...so the smartest strategy I have to rely on at this point is the higher high/higher low and vice versa strategy...It tends to work better than anything else I do so when things are uncertain I trust that above all else.
BITFINEX:BTCUSD
by DrDovetail
BTCUSD July bullrun?Hello again! Today i would like to share with you an idea on BTCUSD I found out there are 2 scenarios that are most likely to happen First, is we follow market structure using the blue line as our support and restistance, which basically means, currently we are sitting at the support level. By following this blue line as a support, we could expect a breakout of the market structure. The second one is that if we fall below the blue line, expect to see a drop to around 7800 ish before bouncing up again. Fibonacci retracement then would then be used in order to determine the support/resistance levels. As for the RSI, it is still low, and also the stoch RSI has already become bullish. This is not a financial advice! Comments and feedbacks are appreciated! Thanks
BITFINEX:BTCUSD
by evntdra