Rsi_divergence
Nasdaq weekly good short candidateNasdaq weekly time frame elliot wave counts,, wait for reversal of price till it re-enters the resistance line of rising channel patter in green dotted line,, below that if gives weekly close index might give water fall of 10-15%,,,once the condition is met and if counts are active,, maintain stoploss of recent peak..
The Holy Grail of RSI - How to use RSI Effectively 4 BIG PROFITSHello Traders,
This video explains how I use RSI to generate big returns in the Forex market. RSI has always been one of my favorite leading indicators I use when looking for confirmations. I highly recommend it. Take a few minutes to watch my video and learn how to use it effectively for intraday trading.
Trade Safe - Trade Well
~Michael Harding
ULTA Reversal PendingNASDAQ:ULTA is signaling oversold as we approach a key support level. What makes this interesting is that we also have an RSI divergence. Very high chance of bouncing off support, however, we will wait for the market to to show us what we want to see. More downside can occur if we break the support. Keep your eyes peeled.
BTC - Bearish divergenceRecently BTC made a higher high on the chart, touching the upper trendline while the RSI made a lower high indicating a bearish move ahead.
Furthermore BTC drops below supportline of 9500 where it will bounce to lower levels.
Predicting the lowest it will go is impossible so I would set my buy orders starting at 8600 to as low as 7800.
Good luck!
RSI and breakoutsIve noticed that when :
1The RSI hits below 30 on the 30min sometimes 1hr time frame
2Then goes up to just before 70 ...say 67 on the RSI
3Then drops again to 25-29
THAT'S A BUY
I think that would indicate a breakout to the upside.
The RSI will go up and down in wave patterns. This doesn't mean the price will follow. BE CAREFUL. So, if it has to hit 70 on the RSI but doesn't. Then drops ,all those people who FOMOed in are FOMOing out at a lower price bringing it up but with more volume.
THIS IS JUST ME TALKING AND NOT ADVICE.