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Relative Strength Index (RSI)

USDCAD Psfp| Weekly S/R| .618 Fibonacci| Price Action Evening Traders, Today’s analysis – USDCAD- trading towards a key support region that has technical confluence Points to consider, - Price Action Corrective - Weekly S/R Support - .618 Fibonacci Support - Swing Failure Region USDCAD’s immediate price action is trading towards its Weekly S/R that has technical confluence with the .618 Fibonacci and market lows, allowing for a bullish bias. The immediate objective is the POC, exceeding this level will lead to a trend continuation. The current volume is below average, an influx is needed once testing support, this will be an indication of market strength. Overall, in my opinion, USDCAD is a valid long with defined risk, price action is to be used upon discretion/ management. Hope this analysis helps Thank you for following my work And remember, “Win or lose, everybody gets what they want out of the market. Some people seem to like to lose, so they win by losing money.” – Ed Seykota
Long
by AzizKhanZamani
Bitcoin Long Term Analysis 💰I want to take a closer look at Bitcoin's price weekly logarithmic chart. This is my view of Bitcoin right now. we look at bitcoin in several ways. 1- Long term channel (purple) 2- Short term channel (green) 3- PRZ - fibo retracement and extention most powerfull PRZ zones: $22000-$23000 and $11000-$11600 4- Head and Shoulders = it's target is about $18000 5- also last ATH (about $19000-$20000) is a strong Support so my buy zones are: $22000-$23000 & $18000-$20000 & $11000-$12000
BITSTAMP:BTCUSD
by Matador7x
3
RSI on APECoin pullback. 3.80% gain on its way.$APE is still in a downtrend and i wanted to post this before the trade finishes. In the image attached you'll see 3 RSI readings. RSI 1st candle = a MINUS of -1.43 RSI 2nd candle = a positive of +2.33 (This is the one i need) RSI 3rd candle = a second confirmed postive of +4.93 As noted with my RSI formula. An RSI of 2.33 = a 1 to 2.33 risk reward ratio. So i entered the trade with those limits. This will work even though i am betting AGAINST the main trend even though i can not find ANY divergences prior to the entry. I do however have FRACTALS setup on a 21 period and i got a notification of one (Bullish) So i started looking for the first confirmed RSI signal closing over 50 (or closing over ZERO in this case) After that, I need a second consecutive candle closing above 50 (or ZERO) as well. The second one is my entry. Then i take the value of the first closing RSI over 50 and use it in the formula. 2 for my scale is 53 on a regular scale. 52 = a 1 : 2 ratio below the 200ma and a 1 : 3 above the 200ma (so we have 1 :2) Now lets look at the left over numbers Here i move the decimal over ONE place and its So the total for my risk reward is ( 1 : 2.33 ) This would be the end of the pullback WITHOUT counting any momentum in the move. Usually 2 or 3 candles later youll have a candle closing EXACTLY at that height and the trend continues down.
by CoffeeshopCrypto
1
Bitcoin EMA200/RSILooking back over the history of BTC when price hits the EMA200 several things have happened: 1. 2018 *BTC hit $3122 *The RSI bottomed out and started to cross upwards *Price danced around the EMA200 *The $3122 low was never broken after that point *Price increased 2. 2020 *BTC hit $3850 *The RSI bottomed out and started to cross upwards *A "V-Shape" recovery happened after hitting the EMA200 *The $3850 low was never broken after that point *Price increased Here we are in 2022 *Price hit $25,401 *The RSI has bottomed out and has crossed upwards *Price has hit the EMA200 and is recovering Will we see a "V-Shape" recovery or will the price dance around the EMA200 for a period of time? Will the $25,401 low be broken? Based on history I would guess that $25,401 is the bottom for this cycle
BITSTAMP:BTCUSDLong
by Joseph_King
S&P500 BreakoutThe S&P 500 has ended nearly two-month losing streak with a +6% gain this week, 4.5% of which came on Thursday and Friday alone which is a good sign going into a long holiday weekend. It means that traders are comfortable buying at current prices and are expecting the uptrend to continue next week. As for the technicals, the SP500 has broken above a downtrend line(red) which acted as hard price resistance for all of May and the breakout this week is a sign that stocks are attempting a price reversal. Price also broke above a local high(dashed yellow) made back on May 18th which was the last time price was rejected at the red downtrend line prior to this weeks breakout. Price also crossed and closed above the 38.2% Fibonacci retracement level today which is another indication that price is attempting to turn bullish. When price is trading between the 0-38.2% fib levels(purple) the overall price trend is considered bearish. When price is trading between the 61.8-100% fib levels the overall price trend is considered bullish. The lower indicators are showing short-term bullish momentum to confirm the bullish price action seen this week. The PPO indicator shows the green PPO line above the purple signal line, and both lines rising, which short-term bullish momentum behind price. Both lines are below the 0 level though which indicates that the intermediate to long-term price momentum remains bearish. The TDI indicator shows the green RSI line rising and above the 50 level. Above the 50 level is bullish, but for sustainable bullish momentum a reading above 60 is preferred. The green RSI line is also above the upper of the 3 purple Bollinger Bands which indicates bullish volatility, and in general you want to hold as long as the RSI line is above the upper Bollinger Band. Short-term the TDI is reading bullish momentum behind price, but the intermediate to long-term momentum won’t shift until the center Bollinger Band is above 50, it currently is at 40. Overall the short-term trend reversal in the SP500 this week looks good and I’m anticipating a move higher next week. The main level I'll be watching is the 50% fib at $4219, a move above there would indicate that this reversal has legs.
CME_MINI:ES1!Long
by PrepForProfit