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Oversoldbounce

Double Top before the BiG DroP?!?This flashcrash will pivot soon IMO. Statistic: Most ATH occur in September. Did in 2020. Friday Triple Witching culmination? NQ has been bearish but acts more like consolidation at support, making higher lows. NQ is >25% of SPX market cap. We have seen time and again how the bulls grab every dip and this one likely to be perceived as just another opportunity. Do not get caught short when it bounces. Expect rally to double top, likely nominal ATH on about Tues 7 Sep. Indices are all oversold. Notice how QQQ tanked more on Tuesday? RTY has already tested 200 MDA twice, pop likely IMO. Would not go LONG until MONDAY, will dangle a few shorts until then. See short ideas attached. End game plays IMO. This WILL bounce, either a countertrend wave or another mad bull runup to new ATH, either way puts, inverse ETFs just melt. Selling VPS for credit, using credit to buy calls one way to play bounce. Or buy ETFs fgs. All risky, all scary. Not recommended for the faint of heart. DEFINITELY NOT ADVICE! GLTA!
TVC:SPXLong
by DaddySawbucks
6
XTZ/USDT | Trend Analysis | Key Levels | Oversold Bounce Todays Analysis – XTZ/USDT – finding support at a structural level with an oversold bounce. Points to consider: - Strong Downtrend - Bearish PA - Oscillators below 50 XTZ has found support after an impulse sell within this steep downtrend, further continuation into daily resistance is probable. However, price action is looking weak and bearish. Even with a relief rally, price will need to reclaim daily s/r and consolidate above the 21 EMA at the least to signify trend reversal. Failing to hold this support, price is likely to have further continuation into the $1.4 support level – a good place for long-term accumulation IMO. Oscillators are below 50, this indicates weakness in the market as we continue to tread into oversold conditions. Overall, in my opinion, further price development will indicate the direction of the next impulse. If you’ve read this far - thank you for following my work! And as always, Focus on you, and the money will too!
by Kudiiee
3
CADJPY S/R Flip|Oversold Bounce|.618 Fibonacci|Volume InfluxEvening Traders, Today’s Analysis- CADJPY – price impulse through key structure, an S/R flip retest will validate it as support. Points to consider, - Trend oversold bounce (RSI) - .618 Fibonacci (Resistance) - Structural support (S/R Flip) - Stochastics sell cross - Volume influx CADJPY trend impulse was due to oversold conditions indicated by the RSI. A swing lower failure will indicate continuation. The bearish .618 Fibonacci has been respected, price is likely to retrace for an S/R Flip retest. This will solidify structural support holding true. The stochastics has a valid sell cross which is indicative of momentum shifting in the market. A volume influx is also present, these influxes usually mark temporary tops. Overall, in my opinion, CADJPY is likely to retrace and hold structural support. This will validate a long trade with defined risk. Discretion is to be used upon management. What are your thoughts? Thank you for following my work! And remember, “If you can’t take a small loss, sooner or later you will take the mother of all losses.” – Ed Seykota
Long
by AzizKhanZamani
AUDUSD Oversold Bounce| Trading Range| Technical Divergence Evening Traders, Today’s Analysis – AUDUSD – recovering from weekly oversold conditions, trading in an important range where further price development will allow for a directional bias. Points to consider, - Weekly Trading Range - 21 MA Breached - Technical Bearish Divergence - Oversold Bounce - Extended Stochastics AUDUSD has entered its macro weekly range from oversold conditions, where it is likely to consolidate and test the range median before another impulse move. The 21 Moving Average has been breached, the indicator can now act as a visual support guide upon a back test. AUDUSD has a technical bearish divergence at the range high; this is a sign of weakness in the current market. The oscillators are putting in higher highs whilst the price is establishing a lower high. The Stochastics is currently overextended; a retest of at least the range median will cool of oscillators. Overall, in my opinion, AUDUSD is likely to retrace and trade within the range before its next impulse move. The immediate direction is short due to trading at the range high. Further consolidation will help with the directions bias. What are your thoughts? Please leave a like and comment, And remember, “Intelligence is the ability to observe yourself without judging yourself. In essence, this is mindfulness.” Mindfulness” ― Yvan Byeajee
Short
by AzizKhanZamani
2
NZDCHF Oversold Bounce| Structural Resistance| Bearish Retest Evening, Today’s analysis, NZDCHF respecting the 2.618 Fibonacci Extension with the next projected trade location at structural resistance Points to consider, - Oversold bounce recovery - Structural resistance retest - 21 MA breached - RSI swing low failure NZDCHF’s oversold bounce recovery is projecting structural resistance to be tested. A bearish retest is likely at this level where a short trade is plausible. The 21 MA has been breached; a back test is probable if price is rejected from structural resistance. The RSI has a valid swing low failure; this solidifies the strength of the bounce back into structural resistance. Overall, in my opinion, NZDCHF is on track for a bearish retest. A short trade at this level is valid with defined risk above recent swing high. What are your thoughts? Please leave a like and comment, And remember, “Dangers of watching every tick are twofold: overtrading and increased chances of prematurely liquidating good positions” – Jack Schwager
Short
by AzizKhanZamani
2
BTC Oversold Bounce|Oscillators exhausted|Probable higher HighEvening Traders! Today’s update will be on BTC which has negated the cup and handle formation (see chart linked) and now is in an established down trend. Due to the immense selling pressure, BTC is probable to have an oversold bounce cooling of oscillators such as the RSI. Points to consider, - 21 EMA broken - Structural support intact - RSI oversold - Stochastics in lower regions - Heavy bear volume Bitcoin has broken all key moving averages on the 240 timeframe; this includes the 21 EMA that kept the recent bull trend together. Major daily structural support is intact; a break of this level will increase probability of further downside. The RSI is clearly oversold indicating a probable pull back in BTC; if this was to come to fruition it will increase the chances of a higher low in the trend. Stochastics is currently in the lower regions, can stay trading here for an extended period of time, however lots of stored momentum to the upside. Evident bear volume has cascaded BTC, a proper climax is likely to confirm a temporary bottom. Overall, in my opinion, bears are likely to over-extend on selling and create an oversold bounce, cooling of oscillators and putting in a potential higher low. What are your thoughts? Please leave a like and comment, And remember “There is a huge amount of freedom that is derived from not fighting the market.” ― Yvan Byeajee
BYBIT:BTCUSD.P
by AzizKhanZamani
1
S&P 500 Gap Down Open? | Oversold Bounce Imminent!Hello Traders! Today’s update will be on SPY, a big gap down with immense selling pressure coming in from a technical standpoint. An oversold bounce will be imminent due to overextended oscillators Points to consider, - Key Moving Averages broken - Local support at .50 Fibonacci - RSI oversold - Stochastics in lower regions - Volume Climax nodes SPY broken all moving averages with this impulse move down, clear increase in selling pressure as bulls fail to make a higher low, confirming the bearish divergence. Local support is situated at the .510 Fibonacci; a gap down open will target .618 as next critical support. The RSI is clearly oversold, indication of over extension, increasing the probability of an oversold bounce. Stochastics is currently in the lower regions, can stay trading here for an extended period of time, however lots of stored momentum to the upside. SPY has clear volume climax nodes, signalling seller exhaustion, another indication of a probable oversold bounce. Overall, in my opinion, a gap down open will increase the probability of testing the .618 Fibonacci, oscillators by then will be well overextended, putting much more emphasis on a bounce. What are your thoughts? Please leave a like and comment, And remember, “Genuine acceptance that there will be losses on your way to market success will greatly decrease the hurt when they eventually come.” ― yvan Byeajee
AMEX:SPY
by AzizKhanZamani
2
Oversold Bounce| .50 Fibonacci | Structural Support| Higher Low Hello Traders! Today’s chart update will be on XRPBTC, testing structural support with oversold conditions poising the probability of an oversold bounce. Points to consider, - Trend broke key resistance (S/R Flip) - .50 Fibonacci current support - Local resistance to break - RSI closing in on apex - Stochastics projected up - Volume decreasing XRP broke a key structural resistance that is now probable support; this will confirm the S/R flip which is a very key bullish indication. The .50 Fibonacci is in confluence with structural support, this level must hold true to confirm a higher low in the trend. Local resistance must break to continue the trend; this will allow XRP to attempt to take out current local highs. The RSI is interesting as it is closing in on its apex, a breakout is imminent and will dictate the next probable move in XRP, that being an oversold bounce but it must break its current resistance. The Stochastics on the other hand is currently projecting upwards momentum with no real signs of reversing. Volume is clearly declining which signals a move is imminent, especially when key technical levels come into confluence. Overall, in my opinion, XRP needs to maintain support above the .50 Fibonacci for a confirmed higher low. The RSI is clearly oversold, increasing the probability of an oversold bounce coming to fruition. What are your thoughts? Please leave a like and comment, And remember, “Fatigue and mental overload create a loss of concentration – The demands of watching the screen hour after hour make it difficult to be sharp, creating fatigue effects that are well-known to pilots, car drivers, and soldiers.” Brett Steenbarger
Long
by AzizKhanZamani
BTCUSD Trade Set Up | Key Levels to Watch !Hello Traders! Today’s chart update will be on a trade setup currently forming on bitcoin, a decent bounce off from local lows after a bullish divergence has led Bitcoin to now resting on the EMA’s. We have clear levels of support and resistance to watch for a bullish on or bearish play. Points to consider - Oversold bounce came to fruition - Price supported by EMA’s and .382 Fibonacci - Local support at .236 Fibonacci - Local resistance at .50 Fibonacci - Stochastics in lower regions - RSI in Nuetral territory Price is currently being supported of the EMA’s which is in confluence with the .382 Fibonacci level, this needs to hold true for Bitcoin to break bullish from local support. Bulls do have a lot of room to work with in terms of putting in a higher low, which will increase the chance of putting in an equilibrium before a break. If Bitcoin decides to break current support, then the probability of a bear break of local support increases. Regardless either break, it needs to be backed with decisive volume… A safe entry bullish and or bearish will be on a close above and or below the key local support and resistant levels… What are your thoughts on the probable trade set up? Please leave a like and comment, And remember, Sheer will and determination is no substitute for something that actually works.” – Jason Klatt
COINBASE:BTCUSD
by AzizKhanZamani