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Overbought

EURUSD showing weakness in early Oceania trade in NZ Monday. An hour into trading of the New Zealand Oceania & Asian session, the week opener, EURUSD is already showing weakness. I see a good short trade here across the Asian session and possibly running into European & New York session. On the flip-side, there is also weakness in the USD, see my recent chart on USDX. However, I don't see this real weakness playing out in the USD until mid-week or perhaps Tuesday. USDX is under it's moving averages on the daily timeframe, last Thursday it retreated harshly following a bullish Heads 'n' Shoulders pattern on the 1HR chart. Cheers, Chris
Short
by Easy_Explosive_Trading
GBPCAD - Overbought Zone AheadHello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈 GBPCAD has been overall bullish from a long-term perspective, trading within the rising channel in red. Currently, GBPCAD is approaching the upper bound of the channel. Moreover, it is also approaching the upper bound of the medium-term channel marked in blue. 🏹 Thus, the highlighted red circle is a strong area to look for sell setups as it is the intersection of the upper red/blue trendlines acting as non-horizontal resistance. 📚 As per my trading style: As #GBPCAD approaches the red circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Short
by TheSignalyst
Potential Buy OrderSummary The analysis reveals an upward trend in the exchange rate. The recent drop was expected due to overbought conditions, with prices now recovering towards the resistance level at 163.25. The Fibonacci analysis indicates significant support levels at 157.35, while resistance is identified at 162.00. Technical indicators suggest that it is too early to place safe buy orders. Trend Determination The direction of the exchange rate in recent times is depicted by the primary upward trend channel that has formed, with price movements occurring in the middle zone. The channel's range is approximately 1200 pips, with the price distance from the upper resistance limit being 600 pips and from the lower limit 600 pips. In a shorter time frame, a secondary upward trend channel is observed. The price trajectory is upward, with movements recorded in the lower zone of the trend channel. The secondary channel's range is 525 pips, with the price distance from the upper resistance limit being 485 pips and from the lower limit 40 pips. The recent drop in the exchange rate was expected as prices had reached overbought levels. This increases the likelihood of the price moving higher. The first resistance level is set at 163.25, and the support level is at 152.60. Fibonacci Support and Resistance Levels Fibonacci Retracement The Fibonacci Retracement analysis shows that the recent downtrend was a corrective move. Specifically, the exchange rate halted at 157.35 and is now moving upwards. This point is a significant support level, and its potential breach could start a downward trajectory. Additional support levels are observed at 156.20 and lower at 154.74. Currently, there is no clear confirmation for future price rises, as movements between 157.35 and 158.96 make drawing conclusions difficult. Placing trades while the exchange rate moves within these prices carries very high risk. Safer trading positions appear to be above 159.96 for buy orders and below 156.20 for sell orders. Fibonacci Expansion Additional resistance levels, using Fibonacci Expansion, are identified at 159.96, 162.00, and 164.34 – 163.63. The latter, as shown in the chart, might be a significant resistance level, as two resistance levels from different Fibonacci Expansions converge. Technical Indicator Analysis Moving Averages Currently, the exchange rate prices are between the moving averages. This indicates that it is still too early to place buy orders. MACD The MACD is moving positively in a downward direction. The divergence observed between the exchange rate prices and the MACD results was confirmed by the recent corrective downtrend. At present, the indicator's results do not support placing a buy order. Future Movement Scenarios Scenario A The first scenario concerns the potential upward movement of prices. Confirmation of this scenario comes from two factors. The first is the upward breakout of the moving average from the price. The second is the exchange rate moving above 159.96. The first resistance level is at 163.25, followed by 164.34. The reversal point is placed relatively lower at 157.35. Stance: Neutral | Outlook: BUY | Risk for placing orders: Moderate Entry Point: > 160.00 | Target: 163.25 | Down Limit: 157.35 Scenario B The possibility of a continued downtrend can occur if the exchange rate moves below 156.20. In this case, the trajectory needs to be reassessed.
Long
by Forex_Analytica
AAPL Signals Short Term DropOf the 71 times AAPL triggers a sell on my RSI indicator (the magenta arrow at the bottom of the chart), the stock drops 97.143% of the time in the following 25 trading days. During 37% of the successful drops, the stock moves upward for 1-4 more days after the signal occurs in what I call the delay period. What qualifies as a successful drop? The sell signal was triggered based on the closing price of AAPL stock on July 10, 2024 at 232.98. This means 97% of the time the stock will move below this closing price in the near-term. 2.85% of the time, the stock does not drop below this price over the following 25 trading days. The stock has always dropped below the signal closing price by at least 0.266% over the next 100 trading days. On the chart above, the red boxes at the top are the delay zones of interest. The larger red box contains 100% of all delayed movement. The smaller box contains the stock's top or peak of the delay for 50% of the occasions. The same holds true for the two large green target boxes on the bottom. The final downward movement bottoms in the smaller green box 50% of the time, while the much larger green box contains bottoms or valleys for all downward movement. This delay period of potential continued upward movement has historically had a maximum 3% gain before the stock eventually dropped. Regarding the bottom of the drop. Over the next 25 bars, it can occur on any day in the range with the median bottom occurring by day 8. 75% of the bottoms have occurred before day 18. The stock drops a minim of 0.266%, and median of 5.021%. 25% of the bottoms are no lower than 2.152%, while 75% of the drops are 8.3% or less. The four shallowest drops over the next 25 days have been 0.266% (September 2010), 0.312% (February 2017), 0.827% (March 2019), and, 0.868% (August 2020) while the four deepest drops have been 63.23% (August 2000), 26.58% (December 1999), 26.51% (January 2006), and 24.80% (September 1999). The most recent double-digit percentage drop was 15% in April 2019. All shallow drops occurred in the most recent strong bull market, while the largest drops were part of the dot-com bubble burst. While this current potential drop will likely avoid the sharper end of sell-offs, it is always interesting to see the strength and accuracy of signals. Historical movement is not indicative of future movement, but it is good to have as a data point.
NASDAQ:AAPLShort
by StockSignaler
USDJPY - Bearish => Bullish => Bearish?Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈 As per my last two analysis (attached on the chart), USDJPY rejected the $160 resistance and traded lower, then rejected the lower trendlines and traded higher. What's next? USDJPY has been trading within a medium-term rising channel marked in orange. And currently, it is hovering around the upper bound of the channel. Moreover, it is retesting the $160 resistance level again. 🏹 Thus, it is a strong area to look for sell setups as it is the intersection of the green resistance and upper orange trendline acting as a non-horizontal resistance. 📚 As per my trading style: I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
1
EURCHF | Short D1 | Market Exec | Building Momentum for Risk OffTechnical Confluences for Trade: - Stochastics are in Overbought Conditions on D1, H4 and H1 time-frames - Stochastics are also Overbought in multiple Cross-CHF pairs and even on USDCHF pair. - Price action is close to multiple Supply zones - Price action is close to multiple Resistance Trendlines as well - Targeting the 50% Fibo retracement for this trade Fundamental Confluences for Trade: - There seems to be some disconnect between asset classes and with everyone already so 'risk-on', the risk-off build up momentum is ripe for the taking. Suggested Trade: Entry @ Area of Interest 0.9830 - 0.9870 SL @ 0.9942 TP 1 @ 0.9720 (Close Half-Position & move SL to Entry level once TP1 is achieved) TP 2 @ 0.9598 Risk-to-Reward @ Approx. 2.59 (Depending on Entry Level) ________________________________ Boosts 🚀, Follows ✌️, Shares 🙌 & Comments ✍️ are much appreciated! If you have any ideas or charts, do share them in the 'Comments' section below and we can discuss our perspectives to improve or strengthen our strategies. If you want something analyzed, do drop me a DM. :D ________________________________ Disclaimer: The above suggestion is an personal opinion in general and does not constitute as investment advice. Any decisions taken based on the above suggestion is purely your own risks. Any websites / brokers / applications suggested here are also provided as informational purpose only. ________________________________
Short
by weekendanalyst
SELL PNB spot cmp 133 target 110 SL 139Technically, there is a distribution going on and sign of exhaustion in strong rally. Multiple times the stock face correction from higher level and then later on it only managed to cross the previous high by some margin to fall again. This means big players selling their delivery. Fundamentally, its already overvalued with high PE and fairly valued Price to Book. So combined analysis says that it can fall to 110 levels soon with any support from market fall.
NSE:PNBShort
by PrashantDahale
AUDCAD - Already Over-Bought 📉Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈 AUDCAD has been overall bullish, trading within the rising wedge in red. At present, AUDCAD is approaching the upper bound of the wedge pattern acting as an over-bought zone. Moreover, it is retesting a strong resistance zone in blue. 🏹 Thus, the highlighted red circle is a strong area to look for sell setups as it is the intersection of the blue resistance and upper red trendline. 📚 As per my trading style: As #AUDCAD is hovering around the circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
4
USDCAD | Short H4 | Market Exe | Loonie to Ride the GreenbackTechnical Confluences for Trade: - Stochastics are in Overbought Conditions on H1 & H4 time-frame - Price action is at a Supply Zone area - Price action may reverse towards the ascending support Trendline - Targeting the 38.2% Fibo retracement Suggested Trade: Entry @ Area of Interest 1.3760 - 1.3800 SL @ 1.3854 TP 1 @ 1.3697 (Close Half-Position & move SL to Entry level once TP1 is achieved) TP 2 @ 1.3611 Risk-to-Reward @ Approx. 2.12 (Depending on Entry Level) ________________________________ Boosts 🚀, Follows ✌️, Shares 🙌 & Comments ✍️ are much appreciated! If you have any ideas or charts, do share them in the 'Comments' section below and we can discuss our perspectives to improve or strengthen our strategies. If you want something analyzed, do drop me a DM. :D ________________________________ Disclaimer: The above suggestion is an personal opinion in general and does not constitute as investment advice. Any decisions taken based on the above suggestion is purely your own risks. Any websites / brokers / applications suggested here are also provided as informational purpose only. ________________________________
Short
by weekendanalyst
6
BNBUST | Short H4 | Market Exec |Technical Confluences for Trade: - Stochastics are in Overbought Conditions on H4 time-frame - Price action is close to a Resistance Trendline & a Consolidation are - Price action may reverse back towards the previous Demand Zone Suggested Trade: Entry @ Area of Interest 560 - 570 SL @ 580.66 TP 1 @ 552 (Close Half-Position & move SL to Entry level once TP1 is achieved) TP 2 @ 535.15 Risk-to-Reward @ Approx. 2.18 (Depending on Entry Level) ________________________________ Boosts 🚀, Follows ✌️, Shares 🙌 & Comments ✍️ are much appreciated! If you have any ideas or charts, do share them in the 'Comments' section below and we can discuss our perspectives to improve or strengthen our strategies. If you want something analyzed, do drop me a DM. :D ________________________________ Disclaimer: The above suggestion is an personal opinion in general and does not constitute as investment advice. Any decisions taken based on the above suggestion is purely your own risks. Any websites / brokers / applications suggested here are also provided as informational purpose only. ________________________________
Short
by weekendanalyst
2
EURNZD | Short H1 | Market Exe |Technical Confluences for Trade: - Stochastics are in Overbought Conditions on H4 time-frame - Price action reversed away from Supply area - Price action may reverse back towards Resistance Trendline and 61.8% Fibo Retracement Suggested Trade: Entry @ Area of Interest 1.8100 - 1.8110 SL @ 1.8156 TP 1 @ 1.8057 (Close Half-Position & move SL to Entry level once TP1 is achieved) TP 2 @ 1.8009 Risk-to-Reward @ Approx. 2.03 (Depending on Entry Level) ________________________________ Boosts 🚀, Follows ✌️, Shares 🙌 & Comments ✍️ are much appreciated! If you have any ideas or charts, do share them in the 'Comments' section below and we can discuss our perspectives to improve or strengthen our strategies. If you want something analyzed, do drop me a DM. :D ________________________________ Disclaimer: The above suggestion is an personal opinion in general and does not constitute as investment advice. Any decisions taken based on the above suggestion is purely your own risks. Any websites / brokers / applications suggested here are also provided as informational purpose only. ________________________________
Short
by weekendanalyst
EURCHF | Short H1 | Market Exec | Taking a Safe Haven TradeTechnical Confluences for Trade: - Stochastics are in Overbought Conditions on H4 & D1 time-frame - Price action is at a Consolidation/Supply area - Price action may reverse towards the lower Consolidation/Demand area Suggested Trade: Entry @ Area of Interest 0.9815 -0.9835 SL @ 0.9879 TP 1 @ 0.9767 (Close Half-Position & move SL to Entry level once TP1 is achieved) TP 2 @ 0.9707 Risk-to-Reward @ Approx. 2.00 (Depending on Entry Level) ________________________________ Boosts 🚀, Follows ✌️, Shares 🙌 & Comments ✍️ are much appreciated! If you have any ideas or charts, do share them in the 'Comments' section below and we can discuss our perspectives to improve or strengthen our strategies. If you want something analyzed, do drop me a DM. :D ________________________________ Disclaimer: The above suggestion is an personal opinion in general and does not constitute as investment advice. Any decisions taken based on the above suggestion is purely your own risks. Any websites / brokers / applications suggested here are also provided as informational purpose only. ________________________________
Short
by weekendanalyst
EURGBP | MT Short H4 | Betting Against the EURPair: OANDA:EURGBP Timeframe: H4 - Medium Term (MT) Direction: Short Technical Confluences for Trade: - Stochastics are in Overbought Conditions on H4 and H1 time-frames - Price action has multiple resistance from trendlines & also a horizontal trendline (supply zone) - Aiming for the 50% Fibo Retracement which the horizontal line shows a supply-demand zone. Fundamental Confluences for Trade: - Nothing much can dictate the movement of this FX pair as they are heavily trade-related like the FX:AUDNZD . Any major movement will come from supply-demand areas, monetary policies or economic data gyrations. Suggested Trade: Entry @ Area of Interest 0.8590 - 0.8620 SL @ 0.8643 TP 1 @ 0.8562 (Close Half-Position & move SL to Entry level once TP1 is achieved) TP 2 @ 0.8522 Risk-to-Reward @ Approx. 2.22 (Depending on Entry Level) ________________________________ Boosts 🚀, Follows ✌️, Shares 🙌 & Comments ✍️ are much appreciated! If you have any ideas or charts, do share them in the 'Comments' section below and we can discuss our perspectives to improve or strengthen our strategies. If you want something analyzed, do drop me a DM. :D ________________________________ Disclaimer: The above suggestion is an personal opinion in general and does not constitute as investment advice. Any decisions taken based on the above suggestion is purely your own risks. Any websites / brokers / applications suggested here are also provided as informational purpose only. ________________________________
Short
by weekendanalyst
GBPCAD | Short H4 | Market Exe | Technical Confluences for Trade: - Stochastics are in Overbought Conditions on H4 time-frame - Price action is at a Supply Zone area - Price action may reverse back below Resistance Trendline Suggested Trade: Entry @ Area of Interest 1.7140 - 1.7160 SL @ 1.7258 TP 1 @ 1.7012 (Close Half-Position & move SL to Entry level once TP1 is achieved) TP 2 @ 1.6809 Risk-to-Reward @ Approx. 3.41 (Depending on Entry Level) ________________________________ Boosts 🚀, Follows ✌️, Shares 🙌 & Comments ✍️ are much appreciated ! If you have any ideas or charts, do share them in the 'Comments' section below and we can discuss our perspectives to improve or strengthen our strategies. If you want something analyzed, do drop me a DM. :D ________________________________ Disclaimer: The above suggestion is an personal opinion in general and does not constitute as investment advice. Any decisions taken based on the above suggestion is purely your own risks. Any websites / brokers / applications suggested here are also provided as informational purpose only. ________________________________
Short
by weekendanalyst
USDJPY | MT Short H4 | Riding on BOJ InterventionPair: FX:USDJPY Timeframe: H4 - Medium Term (MT) Direction: Short Technical Confluences for Trade: - Stochastics are in Overbought Conditions on D1, H4 and H1 time-frames - Price action may face some resistance from a previous support line - Price is close to 61.8% Fib Extension Level - Aiming for the 32.8% Fibo Retracement with 23.6% as the TP 1 level Fundamental Confluences for Trade: - Dividend repatriation season for Japan where MNCs bring back USD dividends and converts them to JPY - These levels may see BOJ intervening to stop the Yen weakness - Yield differential between USA and Japan cannot be denied and dovish BOJ doesn't help much; hence the weak JPY unless we see a firmer BOJ - Further war escalation from the Israel-Iran tension may bring on risk-off moves and see the JPY strengthen Suggested Trade: Entry @ Area of Interest 154.00 - 155.15 SL @ 156.56 TP 1 @ 151.30 (Close Half-Position & move SL to Entry level once TP1 is achieved) TP 2 @ 149.27 Risk-to-Reward @ Approx. 3.03 (Depending on Entry Level) May the pips move in our favor! Good luck! :D *This trade suggestion is provided on an advisory basis. Any trade decisions made based on this suggestion is a personal decision and am not responsible for any losses derived from it.
Short
by weekendanalyst
2
CHFJPY | MT Short H4 | The Battle of 2 Safe HavensPair: FX:CHFJPY Timeframe: H4 - Medium Term (MT) Direction: Short Technical Confluences for Trade: - Stochastics are in Overbought Conditions on D1, H4 and H1 time-frames - Price action may face some resistance from a previous support line - Price has retraced to 61.8% Fib Retracement Level - Aiming for the lower Support trendline from the mid of 2023 Fundamental Confluences for Trade: - SNB has been repeatedly concerned about a strong CHF while BOJ is concerned about a weak JPY - These levels may see BOJ intervening to stop the Yen weakness and vice versa for SNB - SNB is the first developed nation to start their cutting rate cycles and BOJ has just started hiking Suggested Trade: Entry @ Area of Interest 169.50 - 170.20 SL @ 170.84 TP 1 @ 168.68 (Close Half-Position & move SL to Entry level once TP1 is achieved) TP 2 @ 167.18 Risk-to-Reward @ Approx. 2.31 (Depending on Entry Level) May the pips move in our favor! Good luck! :D *This trade suggestion is provided on an advisory basis. Any trade decisions made based on this suggestion is a personal decision and am not responsible for any losses derived from it.
Short
by weekendanalyst
USDCAD | LT Short D1 | Oil to power CAD StrengthPair: FX:USDCAD Timeframe: D1 - Long Term (LT) Direction: Short Technical Confluences for Trade: - Stochastics are in Overbought Conditions on D1, H4 and H1 time-frames - Price action is at the top-end resistance of a parallel channel - Horizontal trendline looks like a supply zone across few periods - Aiming for the 32.8% Fibo Retracement with 23.6% as the TP 1 level Fundamental Confluences for Trade: - A strong oil story from ongoing geopolitical risks is a strong story for CAD's economy to remain their hold on interest rates while US's reflation story has been priced in by markets - Risk is further war escalation from the Israel-Iran tension which continue the rush to safe-havens like USD or JPY. Suggested Trade: Entry @ Area of Interest 1.3750 - 1.3850 SL @ 1.3898 TP 1 @ 1.3640 (TP Half-Position & move SL to Entry level for B/Even once TP1 is achieved) TP 2 @ 1.3567 Risk-to-Reward @ Approx. 2.08 (Depending on Entry Level) May the pips move in our favor! Good luck! :D *This trade suggestion is provided on an advisory basis. Any trade decisions made based on this suggestion is a personal decision and am not responsible for any losses derived from it.
Short
by weekendanalyst
8
BTC | MT Short H4|Consolidation Period Pair: BTCUSDT Timeframe: H4 Direction: Short Technical Confluences for Trade: - Stochastic momentum is close to Overbought Conditions - Price action close to few Horizontal and Resistance Trendlines - Aiming for the 1st 23.6% Fibo Retracement Fundamental Confluences for Trade: - There is a large diversion between the positioning of Long-Term & Short-Term Participants in the futures space. A squeeze may happen. Suggested Trade: Entry @ Area of Interest 70,700 - 71,200 SL @ 72,685 TP 1 @ 68,600 (Close Half-Position & move SL to Entry level once TP1 is achieved) TP 2 @ 65,700 Risk-to-Reward @ Approx. 3.19(Depending on Entry Level) May the pips move in our favor! Good luck! :D *This trade suggestion is provided on an advisory basis. Any trade decisions made based on this suggestion is a personal decision and am not responsible for any losses derived from it.
BINANCE:BTCUSDShort
by weekendanalyst
🔥❤️GOLD TO 2370-2390🔥❤️❤️MY FOREX TEAM❤️ INFORMATION Gold price continues to rise amid growing geopolitical tensions. Gold prices hit record highs above $2,350 even as rate cut bets ease. A rally in gold persisted even as technical indicators showed the yellow metal was squarely in overbought territory. 💲BUY / SELL SIGNAL UPDATES SHORTLY💲 Follow channel for regular updates Everyone success..👍👍👍 ❤️MY FOREX TEAM - Technical Analysis Technical indicators SMA | EMA | MACD | SAR | VWAP | RSI | MARKET TREND | NEWS ❤️NOTE Gold price soars, supported by weakening US Dollar in face of high Treasury yields. XAU/USD was boosted by Fed Chair Powell hinting at rate cuts within the year, contingent on sustained inflation decline. Despite a strong job market as shown by ADP data, indications of a slowdown in services activity contribute to the precious metal's gains. ❤️MONEY CAPITAL MANAGEMENT ⚡️ Only Trade With Risk Capital ⚡️ Cut Losses Short, Let Profits Run On ⚡️ Avoid Using Too Much Leverage ⚡️ Avoid Taking Too Much Heat ⚡️ Do Not Give in to Greed ⚡️ Take profit equal to 4-6% of your capital ⚡️ Stop lose equal to 2-3% of your capital
FOREXCOM:XAUUSDLong
by My_Forex_Team