Get started

Rsi_divergence

PGR (Long) (Weekly Income)Asset Class: Stocks Income Type: Weekly Symbol: PGR Trade Type: Long Trends: Short Term: Down Long Term: Up Set-Up Parameters: Entry: 246.66 (Confirmation Entry) Stop: 234.70 TP 282.53 (3:1) Trade idea: A price pin into a daily demand zone , Buying the breakout on the 1H TF as the price pullback and the SL at the distal line of the DZ (Conservative) . The trade setup also use the Elliot wave analysis, where the price is likely to form wave 5 next. The setup has a 3:1 RRR with a potential for 4:1. The RSI is oversold on the 4H , showing divergence, and heading up. !!Be aware of pending Economic Reports. If price is within 20 pips of proximal value at time of major impact report, then Confirmation entry. Trade management: -Split the TP to 3 orders at each TP -when price hits 1:1 , consider moving stop to entry in case of pullback. So your trade is risk free. -After TP2 hit, you might consider canceling the TP3 and trail the SL to maximize your profit. **Disclaimer**: The trading strategies, ideas, and information shared are for educational and informational purposes only. They do not constitute financial advice or a recommendation to buy or sell any securities, currencies, or financial instruments. You should do your own research or consult with a licensed financial advisor before making any trading decisions. The author assumes no responsibility for any losses incurred from following these trading ideas.
NYSE:PGRLong
by MESHANL
1
Short setup on SPX (x2)After the most recent upward move, the SPX shows clear signs of weakness, suggesting a potential short setup. Since mid-July, the SPX has been moving upward and it's now near its all-time high. However, the RSI Exhaustion at the bottom of the chart has significantly declined and hasn't recovered much, establishing a downtrend. This divergence between the price and the RSI Exhaustion is the first major signal of a possible short configuration. Three additional signs support this setup: The RSI Exhaustion shows recent bullish exhaustion (indicated in green), signaling that further price increases are unlikely. The price has formed a top just shy of its all-time high, as identified by the Bottoms Tops Signal indicator. A major level has formed, as indicated by the Levels and Zones indicator. While this level turned into support, it originated as resistance and could well revert back to it should be price start to drop further. Is the bull run over? Only time will tell, but for now, it's crucial to remain patient and always seek confirmation from the indicators.
TVC:SPXShort
by a.b
Titan Company Ltd. Technical AnalysisTitan has been trading within a consolidation phase recently, suggesting that buyers and sellers are in balance. Let’s look deeper at the technical levels and indicators that might guide us in the coming sessions: 1. Support and Resistance Zones: Key Resistance Levels: The immediate resistance sits around ₹3,452.50 and further up at ₹3,557.05. These levels could act as barriers if the stock attempts a breakout from current levels. Key Support Levels: Titan has notable support at ₹3,233.95. A drop below this could signal further downside pressure. 2. Trendline Analysis: A descending trendline has been in place, connecting recent lower highs. If Titan breaks above this trendline with sustained volume, it could indicate a potential bullish reversal. Meanwhile, a smaller, rising support line (forming a wedge pattern) offers a bullish signal if the price manages to hold above it in the short term. 3. MACD Indicator: The MACD is currently in negative territory, indicating that the stock is under some bearish momentum. However, if we see a crossover above the signal line soon, it could hint at a possible bullish shift. 3. Volume Insights: Volume has remained relatively stable, showing no major spikes that would suggest a strong trend continuation or reversal. A rise in volume, especially near support or resistance levels, may validate any potential breakout or breakdown. Conclusion: Titan appears to be in a consolidation phase, with the possibility of a breakout in either direction. Traders might look for confirmation at key levels, such as a break above the ₹3,452.50 resistance for bullish momentum or a fall below ₹3,233.95 support for bearish sentiment. Monitoring the MACD signal line crossover and volume trends will be crucial to anticipate the next movement.
NSE:TITANLong
by AngshumanSaikia
2
Bharat Electronics Ltd: Key Support Zone and Potential Breakout Technical Overview Descending Triangle Pattern: The price action appears to be forming a descending triangle, which is typically considered a bearish continuation pattern. The triangle's resistance line is a downward-sloping trendline connecting the series of lower highs, and the support is horizontal around the 270-265 INR level. Support and Resistance: Immediate Resistance: The first resistance is at 289.60 INR, as indicated by the horizontal line. Major Resistance: Above this, significant resistance exists around 312.70 INR and 340.25 INR. Support Zone: The highlighted yellow area between 265-270 INR indicates strong support. The price has tested this zone multiple times without breaking down, suggesting that it is a key area to watch for either a bounce or a breakdown. Moving Averages: 50-Day Moving Average: The price is currently close to the 50-day moving average. A breakout or breakdown from this average could provide a signal for further price movement. 200-Day Moving Average: The 200-day moving average is trending upwards and acts as long-term support. It's a key indicator for identifying the overall trend, which remains bullish in the long term. RSI (Relative Strength Index): The RSI is showing a bullish divergence. Even though the price has made a lower low, the RSI has formed a higher low, signaling a potential reversal or bounce from the current levels. Volume: There is a noticeable drop in volume over the recent sessions, suggesting that traders are waiting for a decisive move. If the price breaks either the support or resistance lines, a spike in volume will likely confirm the direction of the move. Target Price: Bullish Target: If the price breaks above the descending triangle and crosses the resistance at 289.60 INR, the next target could be 312.70 INR, with a long-term target around 340.25 INR. Bearish Target: A breakdown below 265 INR could lead to further declines, with the next significant support level around 240 INR. Conclusion: The stock is currently trading near a critical support zone in a descending triangle pattern. Given the bullish divergence in the RSI, there's potential for a bounce. However, traders should wait for a breakout above the 289.60 INR level for bullish confirmation or a breakdown below 265 INR for bearish continuation. Risk/Reward Tip: Use stop-loss strategies close to support and resistance levels to manage risk effectively, as either scenario (breakout or breakdown) can lead to significant moves.
NSE:BELLong
by AngshumanSaikia
#USDJPY #Elliot #Sell#USDJPY sell-4h-elliot-clasicpattern-supplyzone_RD- #In the 4-hour time frame, Elliott price has completed and is now falling. Our fifth wave consists of 5 micro-waves, the fifth wave of our micro-wave is formed in a short form. #Also, in this time frame, the price has formed a classic reversal pattern and at the same time, the price has also reacted to our supply zone. #Divergence of the indicator with the price is also a confirmation of our entry. #SL:149.782 #TP1:146.252 #TP2:143.630 #R/R:1/7
Short
by mohamadaminsajjadi
Short setup on SPXThe SPX has experienced a significant bull run, reaching just below $5700, but is now showing clear signs of weakness, suggesting a potential short setup. Since mid-July, the SPX has been moving sideways and is now nearly flat at its all-time high. However, the RSI Exhaustion at the bottom of the chart has significantly declined and hasn't recovered much, establishing a downtrend. This divergence between the price and the RSI Exhaustion is the first major signal of a possible short configuration. Three additional signs support this setup: The RSI Exhaustion shows bullish exhaustion (indicated in green), signaling that further price increases are unlikely. The price has formed a top at its all-time high, as identified by the Bottoms Tops Signal indicator. A new major resistance level has recently formed, as indicated by the Levels and Zones indicator. While this level could potentially turn into support if the price breaks above it, for now, it remains a resistance, exerting downward pressure on the price. Is the bull run over? Only time will tell, but for now, it's crucial to remain patient and always seek confirmation from the indicators.
TVC:SPXShort
by a.b
RENDER LongRender is currently experiencing volatility as it undergoes price discovery. Despite recent fluctuations, the chart continues to align with a long-term upward trend line, indicating sustained bullish momentum. After a recent dip, Render saw a soft bounce but will require significant buying volume to challenge resistance levels. Render appears to be in a favorable position for long-term investment. A continued upward trend is expected, with potential gains likely in October. Support - $5.16 Resistance - $5.90 RSI - Neutral Fear & Greed Index (Binance) - Neutral 49 ( as of 10/8/2024)
KRAKEN:RENDERUSDLong
by LOWCO_487
A simple RSI Point Of ViewAnalyzing RSI Divergence in US30: Is a Bear Market or Crash on the Horizon? The Dow Jones Industrial Average (US30) is a key indicator for global markets. Recently, a warning sign has emerged with a divergence in the Relative Strength Index (RSI) observed from July 16, 2024, to September 27, 2024. This divergence, along with high trading volume, raises concerns about a potential market shift. Analysts are comparing this situation to past financial crises, leading to questions about a possible bear market or crash. Understanding RSI Divergence in US30 The Relative Strength Index (RSI) measures price momentum. A bearish divergence occurs when prices make a new high but the RSI does not, indicating weakening momentum. Between July and September 2024, US30 showed this divergence: prices reached a higher high, but the RSI formed a lower high, suggesting a loss of buying strength and potential price declines. Additionally, the daily chart shows a lower high in US30 price and a higher low in the RSI, reinforcing the notion of weakening upward momentum. Is a Bear Market or Another "Black Thursday" Looming? The current divergence in US30, along with historical comparisons, signals warning signs. However, it remains uncertain whether this will lead to a bear market (a sustained decline of 20% or more) or a major market crash. Several factors could influence the outcome: - Macroeconomic Conditions: High inflation, rising interest rates, and geopolitical tensions may exacerbate the divergence. - Investor Sentiment: Panic among investors could lead to increased selling and sharper declines. - External Shocks: Global events like financial instability or political turmoil could further destabilize the market. Conclusion and Daily Chart Analysis The RSI divergence in US30 from July to September 2024 is a significant development that warrants attention. The daily chart reveals weakening momentum, with a lower high in price and a higher low in the RSI, indicating a higher risk of market correction or downturn. While it is uncertain whether this will lead to a bear market or crash, traders and investors should stay alert and consider adjusting their portfolios. This is not financial advice. Always conduct your own research and consult with a financial advisor before making investment decisions.
BLACKBULL:US30
by Dr-AJE
1
Bearish Reversal Setup for BNBUSD - Targeting Key Support at 472Description: In this daily analysis of BNBUSD, several bearish indicators suggest a potential decline towards the $472 support level: Bearish Divergence on RSI: The RSI is showing bearish divergence, forming lower highs while the price has formed higher highs, indicating weakening momentum and a potential trend reversal. Resistance at $607 - $628: The price is currently facing strong resistance within the $607 - $628 range. This resistance zone has previously acted as a supply area, and the recent rejection indicates that sellers are in control. Double Top and Descending Triangle Formation: The recent price action suggests a potential double top formation around the $620 level, coupled with a descending triangle pattern, which are both bearish signs. Price Target at $472: If the bearish scenario plays out, we can expect the price to move towards the key support at $472, which represents a strong area of demand. Trading Plan: Entry: Consider a short entry if the price breaks below $593 or on a confirmed retest of the resistance zone. Stop-Loss: Set a stop-loss above $628 to manage risk. Target: The primary target is $472, with potential for further movement depending on market conditions. Remember to manage your risk appropriately, as market conditions can change quickly. Disclaimer: This analysis is for educational purposes only and should not be considered financial advice. Always conduct your own research or consult a financial advisor before making trading decisions.
BINANCE:BNBUSDShort
by Ayrop-Dev
BLUR - 3D bullish divergence I will keep it simple for this one. There is a bullish divergence forming od D3 for BLUR, both on RSI and AO. The same divergence formed on CRV a few days ago, and CRV pumped 20% in a day shortly after, making it one of the best performers of the day/week. The fact that both RSI and AO are forming the same divergence is a plus In addition they are forming on very high time frames, which is usually a good sign it just means it might take a bit longer to play out. Entered at 0.157, which is also a big support level. Target is range high at 0.22ish Happy trading
Long
by Retrace_all_gains
3
SCGP - TFW Wave Target Reversal Projection - Bull Trap A potential bull trap scenario with one more wave downtrend. 1. First correction - Extended flat ABC Wave B retraced 78.6% / w.a and w.C: extended 161.8% of w.A 2. Complex triangle ABCDE pattern 3. The current downtrend wave doubled zigzag ABC pattern with wave 4 in c leg targeting 38.2-50 % retracement at ma50w, creating a false breakout signal before final wave 5 downtrend. RSI at the lowest position - no bullish divergence trend reversal signal support
SET:SCGPShort
by dukeposh
Dogecoin Long $0.1080 to $0.11 and TP $0.36 Before ChristmasI firmly believe that Dogecoin is oversold on the 4 hour and daily timeframes. This is the 2nd accumulation for longs, with target take profit of $0.36 before December, 2024 Christmas time. My first trading idea from the $0.068 to $0.2145 range already filled successfully. This is our second big entry now for the swing traders. Elon Musk Optimist robots could net $200T in revenue over the next few years, and with the November election swinging in I see plenty of room for Dogecoin memes to conquer the X platform. Remember, Elon Musk could always post a picture of a Dog and the price could run up over 5 to 10%. BINANCE:DOGEUSDT
Long
by tametheark