Rsi_divergence
XAU/USD Short-Term AnalysisHello friends.
Hope yore well.
Lets take a quick look at Gold :
1.we approch a mid-term valid trendline and it can be considered as a pullback to this line.
2.as you can see price bounce from this trendline with a strong engulf candlestick.
3.a short-term trendline breaks too and we saw a pullback to it as well
4.Also we can see a Bullish Divergence in oversold area
5.2030 Support level have seen with overlap with this signs
so gold will rise to the upper band of the longterm Trading range which is about 2060.
Hope this is useful for you.
Have great times.
thanks for reading
ATAI looking to bottom out
After closely monitoring psychedelic stocks for approximately six months, my attention has been drawn to ATAI. Despite enduring a challenging period over the past couple of years, the stock appears to be signaling a potential turnaround.
Volume Analysis
A notable observation is the diminishing volume during each downturn, coupled with a substantial surge in volume in November of the previous year. This pattern indicates a decisive breakout from the prevailing trend.
RSI Insights
Simultaneously, the Relative Strength Index (RSI) reached its peak at 69. This represents the highest momentum level in the stock's history, signaling increasing strength. This noteworthy event marks the first instance of the weekly RSI surpassing the halfway mark, hinting at the initiation of a potential uptrend. Further supporting this indication is the presence of a bullish RSI divergence.
Anticipated Developments
My focus is straightforward, with two key criteria:
Demand Zone Confirmation ($1.05 - $1.29)
Previous High Breakout ($2.23)
The occurrence of these events could pave the way for significant upside potential in ATAI, as well as the entire psychedelic industry, with target projections reaching into the double figures.
USDJPY (H4) Sell now at 145.240OANDA:USDJPY USDJPY (H4) There were reaction signals after RSI divergence appears
Sell now at 145.240
Stop loss at 145.601
Take Profit 1 at 144.485
Take Profit 1 at 143.643
Falling wedge breakout on TSLA hourlyLooking at the massive falling wedge breakout on TSLA hourly chart. Also notice the oscillator on the Ultimate RSI, just crossed north of 50 and looks like it wants to retest those +70 levels once again. The next supply zone sitting at $240-$242, if we break through that the next zone after that will be $248-$250, and if we break that we should see $255-$265. If not we will break back down to demand at $235-$230. This and NVDA breaking out, along with AAPL could bring a nice lift back up for SPY...
ATOM'S Descending Channel with a Fakeout 📉🔄📈ATOM, currently traversing a descending parallel channel, recently executed a fakeout above the channel's upper boundary. This strategic move has set the stage for a nuanced analysis and potential trading opportunities.
Key Technical Observations:
Descending Parallel Channel:
ATOM's price movements have been encapsulated within a well-defined descending parallel channel.
The lower and upper boundaries of this channel have played a pivotal role in guiding recent price action.
Fakeout Dynamics:
The recent fakeout above the upper boundary of the channel is a noteworthy event, signifying a temporary breach of the descending structure.
Fakeouts often provide valuable insights into potential shifts in market sentiment.
Detailed Analysis:
Channel Fakeout and Maximal Retest:
The fakeout event above the upper boundary of the channel suggests a temporary breach of the prevailing descending structure.
Subsequent to the fakeout, a retest of the daily maximum has further reinforced the potential strength of the downside.
Strategic Entry Points:
Traders may find opportune entry points around the expected retest zone of 8-8.4$.
Initiating short positions in this region aligns with the prevailing descending channel and the implications of the recent fakeout.
Anticipated Price Movements:
Retest and Potential Upside:
An anticipated retest of the 8-8.4$ zone could serve as a strategic entry point for short positions.
Following this, a bearish scenario could unfold, potentially leading to a decline in price.
Longer-Term Targets:
With the short-term bearish outlook, traders might strategically plan for a subsequent rise to the 15$ level.
It's essential to reassess market dynamics and consider the potential for trend reversals during this phase.
Conclusion: Tactical Maneuvers in a Descending Channel
ATOM's recent fakeout above the descending channel's upper boundary presents traders with a tactical opportunity. The expected retest zone becomes a crucial area for strategic entries, aligning with the broader descending structure. While short-term bearishness is anticipated, longer-term targets suggest potential upside movements.
📉 Descending Channel Dynamics | 🔄 Fakeout Strategies | 📈 Strategic Entry Points
💬 Share your insights on ATOM's recent fakeout and your approach to navigating its current technical landscape! 🌐✨
EURUSD (H1) RSI diverges negativelyFOREXCOM:EURUSD EURUSD (H1) RSI diverges negatively
Buy now at (1.09117)
SL at (1.09016)
TP at (1.09373)
Note: Capital management 2%
TSLA: Approaching a major turning point.TSLA's shares are collapsing, even though the company is beating vehicle delivery expectations. This can be explained by the fierce competition coming from China, as TSLA lost its position as the world's biggest seller of electric cars to BYD in the last four months of 2023 - even though the American company managed to beat its own expectations.
This not only affects TSLA, but also the shares of RIVN and LCID, the former of which also managed to exceed expectations for vehicle production.
From a technical point of view, the price could fall to the next support level in the next few days, around $230 . The price is already entering a short-term downtrend , as it has lost the 21 EMA, and in the absence of a clear bullish reaction that could reverse sentiment, this is the most likely scenario.
What should the price do so it can reverse this bearish sentiment? It would be nice to see a clear reversal candlestick, closing above the 21 EMA again . So far, there are no technical buy signals in my view.
Are there any other possible support points? Yes, we see the 50-period and 200-period averages very close to each other, also in the $230 area mentioned earlier, reinforcing the idea that $230 could be an important support for TSLA . It would be important to see the price react above this area to avoid a Death Cross (when the 50MA breaks the 200MA downwards).
A warning sign is the divergence between the RSI and the price. While the price was making higher tops, the RSI was already making lower tops, as evidenced by the red arrows in the chart above.
In addition, the RSI is already losing its support levels, while the price is still above them (green lines). This can be characterized as an Advanced Breakout (when an indicator anticipates a breakout in price).
For now, TSLA shares are in correction territory, and although we see a promising support zone near $230, I don't see any technical evidence that convinces me of a bullish reversal at the moment.
I'll keep you updated on this, so remember to follow me for more daily analysis like this, and support this idea if you like it or learn something new here.
All the best,
Nathan.
GBPAUD - Good Chance We'll See Support HereTaking a look at the daily timeframe, price-action is currently supported by the Natural Consistency Flow. At the same time we also have divergence with RSI hinting at a potential short-term bottom.
Personally I need to see price-action now make a daily higher high (closing above the last candle). Once we get that third confirmation, I would be inclined to going long with this pair.
That's it - That's all
Trade Safe!
USDCAD - Bullish Divergence Heading into PCETaking a look at the 1 hour timeframe, we have some clear bullish divergence with RSI and price-action. Whenever we get a setup like this, price-action does tend to bottom out and is likely to push higher.
The question now is "Will PCE come in better than expected?" As of right now, the economic calendar forecasts for weaker than previous figures. This may leave room for a surprise to the upside and thus in fact bottom out USDCAD at least on the 1 hour timeframe.
BTCUSDT reached supply BTCUSDT seems to be reached supply zone. Price action drew a logical dynamical resistence line - top formation - in a confluent Elliot Wave count. USDT 40400 is a potential target for short swing trade in an possible impulse bearish.
Sell USDJPY at current price (143.9)OANDA:USDJPY The USDJPY exchange rate reacted negatively to the resistance area with the appearance of a bearish Pinbar reversal base.
Perhaps the negative divergence reaction of RSI may have ended.
We can execute a Sell order with stop loss and take profit based on support, resistance and Fibonacci retracement levels.
Sell USDJPY at current price (143.9)
Stop loss at 145
Take profit 1 at 143
Take profit 2 at 142.5
Note: Capital management 2%
Unlocking Potential: EURGBP's Consolidation and Bullish MomentumIn the current market scenario, the EURGBP pair appears to be undergoing a phase of consolidation following a preceding downtrend. The price action is forming a discernible flat bottom, a pattern indicative of accumulation, further complemented by a bullish divergence observed on the Relative Strength Index (RSI).
Should the price breach the defined entry point, the imminent breakout could propel the currency pair upwards. Notably, the overall market sentiment stands at an overwhelmingly bullish 96%, adding a reinforcing element to the potential upward trajectory.
MU looks bullish pre earnings I tried analyzing MU and I feel it is bullish. It is not a current market price trade as risk is way down near 73 but target is 87.
I am long and will continue to hold it as I see $88++ coming.
March E-Mini S&P 500 Index Futures Weekly Chart - 12/18/23March E-mini S&P 500 Index futures continued the rally that began at the beginning of November, taking out the recent high from the last week in July. MACD recently experienced a bullish cross by crossing above its signal line. That relationship is widening, which indicates a continuing bullish trend. RSI is getting closer to being overbought at 70, though bearish divergence might be in play as the RSI is lower than its peak in August, even though price has taken out the high in August. This could indicate that momentum is weakening, and a reversal might occur. If the bullish trend continues, resistance might be found at the April 2022 high of 4,860. A reverse to the downside could find support at the 61.8% Fib level (4,530) and at the 52-week moving average (~4,400).
Please Note:
Commentary and charts reflect data at the time of analysis (12/15/23). Market conditions are subject to change and may not reflect all market activity.
GMTUSDT LONG 1HTHIS IS NOT A FINANCIAL ADVICE
Conditions
1.Fibonacci level:✅
2.Bollinger band:✅
3.Momentum:✅
4.Price action:✅
5.Volume:✅
6.1h tf:✅
7.4h tf:✅
8.1d tf:✅
MSFT Making a Typical Bearish DivergenceMicrosoft ( NASDAQ:MSFT ) has been on a bull run since the AI hype started. Despite a correction that pulled it down all the way to $310, it has recovered well and continues to stay strong. However, after analysing its most recent bull run and using the RSI indicator, I have concluded that it has exhausted its bull run and is ready to take another correction.
As can be seen in the above image, the share price made a new Higher High on 28th November. A previous high of $376 was achieved on 16th November.
During this time, the RSI indicator made a lower high as can be seen in the above image.
What does this mean?
In the above case, the RSI does not make a new high when the stock price makes a new high. This shows that the momentum is weakening and trend riders may want to book their profits.
As a consequence, the share price stalls and with fewer buyers and more profit takers, the likely path for the share price is downwards .
Dark Cloud Cover
Moreover, the candlestick pattern formation shown in the figure below also shows bearish sentiments. The closing candle on 29th November confirmed the formation of 'dark cloud cover'.
Dark cloud cover shows a shift in momentum to the downside.
Together with the RSI divergence, it seems NASDAQ:MSFT is headed south.
What do you guys think about this?
Dıvergences of BitcoinWhen we examine the last 3 mismatches between the price and the Relative Strength Index, the view that emerges can give us an idea about the possible correction in the price.
Massive Falling wedge on GME weekly!!!!!!!!!!!!!Just wanted to point out that GME has now reached the end of this massive falling wedge on the WEEKLY. A breakout of this wedge could be absolutely massive to the upside.
Also, the last time the Ultimate RSI was this low, shortly after we seen a 155%, $19 to $50 spike in just 14 days.
With new legislation for reporting short positions and the pressure on the Hedgies to finally close out, this could be the move everyone has been anticipating. Not to mention the massive amount of DRS'd shares we have been seeing.
Grab your fav snack and bev because the extravaganza is about to begin. GLTYA, and happy trading ✌️
Interpreting RSI (Relative Strength Index)The Relative Strength Index (RSI) is a momentum indicator that measures the speed and magnitude of price movements. It is a versatile tool that can be used to identify overbought and oversold conditions, as well as divergences and trend strength.
Overbought and Oversold Conditions
The RSI oscillates between 0 and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30. These levels are not set in stone, and they can vary depending on the security and the market conditions. However, they are a good starting point for identifying potential buying and selling opportunities.
Overbought:
An RSI reading above 70 indicates that the security is overbought, which means that it has been trading up rapidly and may be due for a correction. However, it is important to note that the RSI can stay in overbought territory for an extended period of time before a correction occurs.
Overbought RSI indicator
ETHUSD(Day Chart)
As you can see in the chart, when the RSI indicator hit the 70 level, the price started dropping continuously.
Oversold:
An RSI reading below 30 indicates that the security is oversold, which means that it has been trading down rapidly and may be due for a bounce. However, like with overbought conditions, the RSI can stay in oversold territory for an extended period of time before a bounce occurs.
Oversold RSI indicator
BTCUSD (weekly Chart)
As you can see in the chart, when the RSI indicator hit the 30 level, the price started bouncing from the bottom level.
The RSI indicator has accurately predicted the bottoms of Bitcoin's major bear markets in 2015, 2018, and 2022.
Stay tuned for more updates on this topic.
Regards
Hexa
XAG/USD ↘️ Sell Trade Setup ↘️Hello Everyone 🙋🏽♂️
We are in supply zone with an overbought RSI indicator.
🟠 EP 23.92943
🔴 SL 24.35149
🟢 TP1 23.48040
🟢 TP2 23.06730
🟢 TP3 22.65874
We are not responsible of any losses for anyone, our trades are profitable more for long terms and we take losses as everyone,
manage your lot size as well and your SL and TP and my opinion is 0.01 lot for each 500 $.
Don't forget to hit the like bottom and write a comment to support us.
Follow us for more 🙋🏻♂️
Best Regard / EMA Trading .
Disclaimer:
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It's not a financial advise, As everyone we take losses sometime but for long term trading we are profitable traders, so manage your account well with SL and TP and your lot size to keep your account safe and stay in the market
$NVDA downside gap-fill potential!NASDAQ:NVDA ,1D: Price dipped just below the 50% line and popped back up over the line after coming off the local lows at 403. Given the 'uncertainty' around the level and duration of a 'higher for longer' rate environment along with the market's general preference for 'clarity' over 'uncertainty', it would not be unreasonable to expect the 'increased volatility' that comes with 'uncertainty' until some level of 'clarity' can be established around the duration of the current 'higher rate environment'.
Further adding to the potential for 'market uncertainty' and 'lack of clarity' are the tenuous and ongoing negotiations between the U.S. and China around access to semi-conductor IP. NASDAQ:NVDA utilizes the cost benefits provided to its model from the 'cost efficiency' of both Chinese and greater Asia's manufacturing and production capacities. Were trade relations around semi-conductor IP between China and the U.S. to become 'less amenable', the deterioration of that relationship could adversely impact NASDAQ:NVDA 's margins.
If NASDAQ:NVDA had to re-establish production/manufacturing supply chain relationships elsewhere this could inject 'uncertainty' into the price discovery process. These are 'unknown unknowns' at this point and hard to factor into analysis, but at a minimum, they would increase the potential for 'market uncertainty' and the subsequent 'lack of clarity', which often leads to 'price volatility' until some level of 'certainty' could be re-established.
Looking at our 1 day RSI against price I am seeing a 'bearish divergence' whereby price makes 'higher-highs' and 'higher-lows' while the RSI prints 'lower-highs' and 'lower-lows'. This can be taken as a 'leveling off' of momentum that often precedes a change in price direction or, at a minimum, a significant pull back within a constructive trend. (see light violet curves)
I would expect that a downside 'gap fill' could be a 'necessary evil' at some point in time across the next 6 weeks or so, and before further gains to the upside could probabilistically be portended from a structural standpoint. The bottom of the gap fill is roughly in confluence with the YTD VWAP (peach).
NOT FINANCIAL ADVICE. ALL STOCKS CAN GO TO ZERO.
Closed CRWD trade at a profit of 12.5%We have closed our CRWD trade at a profit of 12.5%. The profit target has been reached and the stock if short-term overbought (RSI) which increases the risk for a short-term pullback.
When the stock is at the target profit, you have several options: a) close the full trade, b) close half of the trade and move the SL for the remaining half up to e.g. breakeven, c) move the SL up to e.g. breakeven and hold the stock for a larger move.
Here is the link to our updated portfolio:
www.tradingview.com
