The RSI shown on the Soybean Meal Futures chart has closed below 60, and there was a large bear outside candle formation to complement the move down. Additionally, this is the first retracement within the trend.
Since the heaviest volumes are above the current price, I anticipate there will be a retracement into the untested supply zone and then trend...
• The RSI shown on the EURUSD chart has closed above 40, and there was a large bull outside candle formation to complement the move up. Additionally, this is the first retracement within the trend.
• Since the heaviest volumes are above the current price, I anticipate there will be a retracement into the untested demand zone and then trend continuation.
• Based on...
The RSI shown on the USDCAD chart has closed above 40, and there was a large bull candle formation to complement the move up. Additionally, this is the first retracement within the trend.
Since the heaviest volumes are above the current price, I anticipate there will be a retracement into the demand zone and then trend continuation.
Based on the Renko bar chart...
The RSI shown on the USDJPY chart has closed below 60, and there was a large bear candle formation to complement the move down.
Since the heaviest volumes are above the current price, I anticipate there will be a retracement into the supply zone.
Based on the Renko bar chart (shown as a candlestick chart above), the price has yet to infiltrate the supply area on...
Higher Timeframe:
• The RSI closed below 60, and the formation of a large bear candle is shown.
Lower Timeframe:
• The intermediate trend is downward.
• The heaviest volumes are spotted far away, giving us room to trade.
The setup that I am using here is considered to be going against the trend. I'm looking for a small retracement to capture a 1:1 target ratio and make small gains. Normally, I would not attempt this trade, as it goes against my trading plan, but I have a strong conviction that buyers are exhausted and that sellers will come in at the zone drawn on the chart.
The RSI has retraced below the 60 line on the daily chart, indicating that there is a downtrend on the lower timeframes. The next step we must take is to wait for the price to enter a quality supply zone, which is shown on the 30-minute chart. Once the price reaches this area of supply, we anticipate a further move down for a minimum of a 1:1 risk-reward ratio.
I like this setup! The RSI is showing weakness after a strong move up on the daily chart. There is a quality supply zone formed in a downtrend, and the price still has room before it reaches its next target. I anticipate a retracement to that supply zone. Then, I suspect further movement downward is possible.
RBOB Gasoline Futures is in a strong downtrend, and the price broke above the 40 RSI line on the daily chart . Therefore, we can anticipate an upward retracement into a quality supply zone . I used a volume profile to find the area with the heaviest volumes within that same daily zone.
In the Palladium commodities market, on the Daily chart, the price is in a strong uptrend. Relative Strength Index indicator pushed lower and closed below the sixty line. This indicates that a slight retracement is due, and I expect the price to come back to a heavy volume area. I dropped down to the 30-minute chart to tighten my entry in hopes that I will...
There is a trend setup here. Since current price is in a downtrend at the moment, I suspect a minor pause and then change in direction where the volume is the heaviest. No additional confirmation is needed.
The USDCAD is trending upward. However, there is a volume cluster setup just above with heavy volume. The supply zone has a strong drop from its base, meaning there is a lot of sell orders trapped in that area. It is also a single base formation, so that means that the zone that I draw extends from each end of the candle.
