Get started

Oversold

My Trade Idea for GBPUSDHi! I see an interesting moment for GBPUSD. Volumes spiked on 18 April and I see a bearish push toward 1.2865, where GBP found subsequent Longs opens. Some of those Longs already cleared today around 1.3050 area, but I see as well more Longs opened in this area as the pair touched 1.3080 area. The range of the last hour still constitutes a good are for positioning in the light of tomorrow session, full of news influence. Personally my opinion is that in the absence of crushing USD data, GBP will grind his road to 1.3150 in the very near future. On the other hand, crushing USD data (always in addition to the many many other factors) may give boost to a new bearish wave toward the 1.2970 area (11 March low) or even the 1.2865 once again. This interpretation is provided in the light of the longer-term phase that I can read for this pair. Have a nice day! P
by Pentaglottis
EURUSD 1D WILLIAMS %R STRATEGYThe Williams percent R indicator or %R for short is a technical indicator that oscillates between the value 0 and -100. The Williams percent range indicator provides us with valuable information about the strength or weakness of a trend of a stock, commodity, currency pair, cryptocurrency or any other financial instrument that has attached to it a price. Basically, the Williams percent range indicator is a powerful momentum indicator that can help you day trade any market in the world. Williams percent range oscillator can be used in various capacities that can help us determine: Momentum confirmations. Overbought and Oversold readings. Strength of the trend. Potential buy and sell signals. When day trading, you need to eradicate all the uncertainty around your decision-making process. This is why we have developed the Williams percent range strategy, a rule based system that will allow you to trade from a place of personal power. The benefit of our day trading system is that it can be used with any market in the world. Strategy #2: Day trading Momentum Burst with Williams %R Indicator As an alternative to using the Williams percent R to identify overbought and oversold market readings, we have developed a way to catch momentum bursts that you will see on your charts every single day. Momentum trading can offer you instant gratification, and the Williams %R trading strategy can help you satisfy those financial urges. Let’s get into how momentum trading works using the Williams %R indicator. Step 1 Add Williams %R indicator onto your chart with a 10 period length We have also changed the oversold and overbought readings to -90 respectively -10. Note: Make sure you use 10 periods for the Williams percent range oscillator. Step 2 Draw a line at the -50 level on the Williams percent R indicator The momentum strategy is developed around the -50 level. For a visual representation, and to better and faster identify the potential trade signals, we add a line at the -50 level. The -50 level is the middle of the Williams percent range oscillator range. When the %R indicator crosses the -50 level, it signals a change in the momentum. Step 3 Buy once the Oscillator moves from oversold reading and crosses the -50 level There are two conditions that need to be satisfied before confidently buying. First, we need to see the %R oscillator in oversold territory. We consider a market oversold if it shows a reading below the -90 level. Secondly, we need to see the oscillator moving away from oversold territory and cross the -50 level from beneath. This shift in momentum indicates that we can start looking for trade opportunities in the direction the oscillator crossed the -50 level. In our case, we’re looking to buy right away once the momentum oscillator breaks above the -50 level. Step 4 For our exit strategy and stop loss management, we simply work with the trading range identified during the first step. In this regard, we place the protective stop loss below the support bottom of the range and take profit at the top resistance of the range.
Long
by Tradingstrategyguides
forexTrdr EURUSD- MAGA GDP OUT THE WAY LETS BOUNCE Afternoon traders, US GDP smashing estimates yet again with a 3.2% growth versus expectations for 2.3% but this pair, Euro versus US dollar failed to trade (and hold) near yesterdays lows giving us confirmation that a near term bottom is in for the time being and that Euro is likely to head higher from here. US GDP is a high impact event and for all traders it is something you want to avoid setting any new USD trades in the other prior to it unless you have high conviction and multiple indicators to back it up. Now that GDP is confirmed we are able to enter the market with a clearer view on what this pair is likely to do. As per our trading view chart RSI is extremely oversold and the market appeared to find a bottom on a close level around 1.1125-1.1130 from which we have at least one candle bouncing higher from- the lower wick on the prior 4 hour candle. We are looking to play a combination of profit taking into the weekend on shorts on Euro Dollar and looking to play the oversold nature of this pair. As always this is not a trade recommendation and simply technical observation. Good luck trading from the Team at forexTrdr find us on instagram, twitter and Alexa flash briefings
Long
by forexTrdr
1
Trading plan for EURUSD, GBPUSD, USDJPY for 24/04/2019EURUSD* The technical cross-section**: Trend: -1 A strength of trend: -4 Overbought/oversold : none The priority area of transactions : selling Selling in the area of 1,1290 with a stop above 1,1320 and a profit in the area of 1,1210. Selling in the area of 1,1350 with a stop above 1,1410 and a profit in the area of 1,1210. The purchase in the area of 1,1210 with a stop below 1,1170 and a profit in area 1,1280. GBPUSD The technical cross-section: Trend : -1 A strength of trend: -4 Overbought/oversold : oversold The priority area of transactions: selling The purchase in the area of 1,2860 with a stop below 1,2810 and a profit in area 1,3000. The purchase in the area of 1,2990 with a stop below 1,3040 and a profit in area 1,2870. Selling in the area of 1,3110 with a stop above 1,3170 and a profit in the area of 1,3000. USDJPY The technical cross-section: Trend: 0 A strength of trend: 0 Overbought/oversold: none The priority area of transactions: buying Selling in the area of 112,00 with a stop above 112,30 and a profit in the area of 111,10. The purchase in the area of 111,50 with a stop below 110,80 and a profit in area 112,90. The purchase in the area of 111,00 with a stop below 110,80 and a profit in area 111,80. * all transactions are intraday, that is, it must be closed at the end of the day. The error in the parameters of transactions is +/- 5 points; in the case of fundamental force majeure, the recommendations may be less relevant; ** the trend parameter accepts values “+1” - an uptrend, “-1” - a downtrend, “0” - no trend. Determined in terms of the author's analysis of a set of signals from technical indicators from different time frames; the trend strength parameter - accepts values from “-4” to “+4” and shows how strong this trend is. It is determined based on the author's analysis of a set of signals from technical indicators from different time frames; overbought/oversold is defined in terms of the analysis of the RSI (8) indicator on a daily time frame. The boundaries of the zones are accordingly 70 and 30; the priority area of transactions depends first of all on trend and its strength but is also taken into account our value judgments of the situation on the market. Wish you successful trading solutions and transactions!
by Trade24Fx
forexTrdr AUDJPY: SHORT TERM TRADE ON AUDMorning traders Placing a short term buy trade on Aussie Dollar versus Japanese Yen on the pair trading down to support levels on declining volumes- suggesting the selling is running out of steam which at the same time is lining up with the pair trading into oversold territory levels. Additionally stochastic is showing, from extreme levels, that the market is starting to turn higher. Bollinger bands are also pointing to the market reaching levels which should indicate a turn higher as well as the market trading significantly below Ichmoku clouds- all pointing to a short term move higher. On the news front we have Australian inflation data tomorrow in the early hours so we are looking for a short term squaring up on positions into the data print. Good luck trading from the Team at forexTrdr find us on instagram, twitter and Alexa flash briefings
Long
by forexTrdr
1
Silver's Two Scenarios, An Important TimeSilver is falling into Support Area, Two Scenarios: Break the descending trend line, stand over it: Reverse Being pressed by descending trend line, breakdown the support line, and keep falling. For the current signals, 1st scenario has higher probability, let me say, 70%. Indicators: 9 Seasons Rainbow Multiple Time Frames Pattern PRO RSI Signals: Bullish Divergence (Oversold, Support, Blue) on 3H. Failed Bullish Divergence ( Crazy Sold, Fuchsia) on 16H, which means the previous support was broken. DISCLAIMER This is only a personal opinion and does NOT serve as live trade call NOR trading advice. Please make their own decisions, carefully assess risks and be responsible for your own investing and trading activities.
OANDA:XAGUSDLong
by go8686
Forex Divergence Watch: USD Pairs 20190419USDCAD: Resistance in 1D, Yellow, Range USDAUD: Conflict Signals Bullish Divergence (Blue) in 339m (5.6H), Support Bearish Divergence (Yellow) in 4D-5D Resistance USD Pairs being monitored: USDAUD , USDCAD , USDCHF , USDGBP , USDJPY , USDEUR Time Frame: 1H - 2D DISCLAIMER This is only a personal opinion and does NOT serve as investing advice NOR trading advice. Please make their own decisions, carefully assess risks and be responsible for your own investing and trading activities.
by go8686
Forex Divergence Watch: EURO Pairs 20190419Euro Pairs being monitored: EURAUD, EURCAD, EURCHF, EURGBP, EURJPY, EURUSD Time Frame: 30m - 1D EURGBP: Bearish Divergence / Resistance on 170m (3H), Yellow EURADU: Bullish Divergence / Support on 680m (11H), Blue EURGBP 170m MACD, RSI EURADU: 680m MACD, RSI DISCLAIMER This is only a personal opinion and does NOT serve as investing advice NOR trading advice. Please make their own decisions, carefully assess risks and be responsible for your own investing and trading activities.
by go8686
forexTrdr NZDUSD- DO KIWIS BOUNCE? ASKING A FRIENDGood afternoon traders, Looking at a severely oversold New Zealand dollar versus US dollar on multiple time frames. Most appealing to us is the daily timeframe but almost all time frames confirm the oversold nature of this pair after the recent inflation print disappointed. 0.1% versus 0.3% expectation. This led for the New Zealand dollar breaching key levels around low 0.67. The market appears to have a found support around levels dating back to January both on the headline number and on the subsequent short lived bounce after it. Now we currently see the pair in extreme oversold status on RSI and bollinger band analysis highlighted in our tradingview chart. The bounce we are looking for may not start to trend until the New Zealand session begins overnight but we are looking for a sustained bounce into next week take New Zealand dollar back towards mid 67s. Good luck trading from the Team at forexTrdr find us on instagram, twitter and Alexa flash briefings
Long
by forexTrdr
Is Divergence Really Irresistible?Divergence is one of the best technical analysis theories. Although not 100%, a very high probability of profitability is well known. This idea lists most of the instances of divergence on BTCUSD (Coinbase) since $19892 summit of December 2017 on 2H interval. Indicators used: RSI MACD 9 Seasons Rainbow Multiple Time Frames Pattern PRO Base Time Frame: 2H, most upper ribbon of "9 Seasons Rainbow" Longest Time Frame: 90H (3D + 18H), most lower ribbon of "9 Seasons Rainbow" Instances of Bullish Divergences (Green Arrows) 29 instances, probability of profitability > 85% Signals: Blue ascending arrows in RSI & MACD Blue Ribbons in "9 Seasons Rainbow" Instances of Bearish Divergences (Red Arrows) 17 instances, probability of profitability > 90% Signals: Yellow descending arrows in RSI & MACD Yellow Ribbons in "9 Seasons Rainbow" The value of divergence: it is not limited to fixed price and it happens on any Time Frame, when it encounters strong resistance or support. The downside of divergence: high reward is coming with high risk, when the resistance or support being broken through, a breakout or breakdown may happen. Thus whales can use this to play with the market, with the recent case happened on April 1. By using "9 Seasons Rainbow" Indicators, traders can monitor Divergence: Visually Cross Multiple Time Frames on a single screen, without necessary to change time intervals /sessions Setting Alerts of divergence on All Time Frames on a click DISCLAIMER This is only a personal opinion and does NOT serve as investing advice NOR trading advice. Please make their own decisions, carefully assess risks and be responsible for your own investing and trading activities. The arrows and rectangles are added manually according to signals of the indicators. Hidden Divergence is not included in this idea, because I feel the probability to win is not so high as normal Divergence. May be I don't find the right method to use hidden Divergence.
COINBASE:BTCUSD
by go8686
Is Divergence the King or Queen of Crypto Technical Analysis?Divergence is one of the best technical analysis theories. Although not 100%, a very high probability of profitability is well known. This idea lists most of the instances of divergence on BTCUSD (Coinbase) since $19892 summit of December 2017 on 2H interval. Indicators used: RSI MACD 9 Seasons Rainbow Multiple Time Frames Pattern PRO Base Time Frame: 2H, most upper ribbon of "9 Seasons Rainbow" Longest Time Frame: 90H (3D + 18H), most lower ribbon of "9 Seasons Rainbow" Instances of Bullish Divergences (Green Arrows) 29 instances, probability of profitability > 85% Signals: Blue ascending arrows in RSI & MACD Blue Ribbons in "9 Seasons Rainbow" Instances of Bearish Divergences (Red Arrows) 17 instances, probability of profitability > 90% Signals: Yellow descending arrows in RSI & MACD Yellow Ribbons in "9 Seasons Rainbow" The value of divergence: it is not limited to fixed price and it happens on any Time Frame, when it encounters strong resistance or support. The downside of divergence: high reward is coming with high risk, when the resistance or support being broken through, a breakout or breakdown may happen. Thus whales can use this to play with the market, with the recent case happened on April 1. By using "9 Seasons Rainbow" Indicators, traders can monitor Divergence: Visually Cross Multiple Time Frames on a single screen, without necessary to change time intervals /sessions Setting Alerts of divergence on All Time Frames on a click Poll: Is Divergence the King or Queen of Cryptocurrency / Cryptoasset Trading Technical Analysis? Please leave your comments. DISCLAIMER This is only a personal opinion and does NOT serve as investing advice NOR trading advice. Please make their own decisions, carefully assess risks and be responsible for your own investing and trading activities. The arrows and rectangles are added manually according to signals of the indicators.
COINBASE:BTCUSD
by go8686