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Rsi_oversold

Will CADCHF go up? It seems so!Hey guys, another chart today, this time it's CADCHF's turn. As you can see the daily chart is giving us multiple reasons to look for long opportunities, and pay attention to the "look for" verb, it doesn't mean we're going to take the trade with no confirmation (since we're on the daily i don't trade patterns on the daily itself). Instad, i've outlined the structure zone that i think may push price higher and there i'm going to seek for candlestick formations in order to confirm my long bias. This way i can reduce my stop loss size but at the same time, take into consideration the bigger targets for extended targets. This is how powerful multiple timeframe analysis can be. I'll keep you updated. If you want to ask something or just share your view, post a comment below. Otherwise, see you in the next chart!
Long
by Roker1
Trend Continuation Trade (GBPAUD)Hi guys, this is one of the simplest setup that i trade. You can see price's created a new structure low, and now it is back to retest previous resistance that once broken could become support. After multiple red candles it's now formed a green candle right at that important level. We can try a lonog, with stops just below the low, target1 at .618 of the previoous downward move, second target to be determined. If you want to ask questions, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
TCT trade on GBPAUDHi guys, this is one of the simplest setup that i trade. You can see price's created a new structure low, and now it is back to retest previous resistance that once broken could become support. After multiple red candles it's now formed a green candle right at that important level. We can try a lonog, with stops just below the low, target1 at .618 of the previoous downward move, second target to be determined. If you want to ask questions, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
LTC ForecastRSI looks in good shape for another leg up in LTCBTC. If Bitcoin continues its decline, then we can see some good gains on this pair. It reached bottom of channel yesterday, and has bounced off here too, similar RSI pattern indicates elevation. Overlaying the ichimoku cloud also indicates a breakout on the 6h. Careful with any reverse with Bitcoin as could send this downward more. Long term is a decline, but in the next few days we can expect a rise from here I think.
Long
by rjmacarthy
Double Bottom at Structure (USDCHF analysis)Hi guys, this is the hourly chart on USDCHF. I'm interested in buying this cross and i'll briefly explain why: first of all, price is testing a key structure level that proved to be strong in the recent past. Then at this level also happens to be the completion point of an AB=CD pattern. In the 4H timeframe RSI is in oversold condition (additional clue). Here you can see price is founding some troubles breaking through this level, and it has actually formed a nice double bottom with RSI divergence. Stops below the low, targets as illustrated above. If you have any question or if you want to share your view, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
Double Bottom at StructureHi guys, this is the hourly chart on USDCHF. I'm interested in buying this cross and i'll briefly explain why: first of all, price is testing a key structure level that proved to be strong in the recent past. Then at this level also happens to be the completion point of an AB=CD pattern. In the 4H timeframe RSI is in oversold condition (additional clue). Here you can see price is founding some troubles breaking through this level, and it has actually formed a nice double bottom with RSI divergence. Stops below the low, targets as illustrated above. If you have any question or if you want to share your view, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
4
Harmonics taking place on AUDNZD!Hey guys, i've been looking for this setup to complete for a very long time, now price has finally finished the AB=CD patterns i was paying attention to. The reason why i was so interested in these pattern is because their completion point line up pretty well with a daily and weekly structure looking left. Besides, also the 382 retracement of the bigger impulse lies right around there. The RSI is in oversold condition so we can start looking for price action in order to long this pair. Keep you updated! If you want to share your view, or just ask questions, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
Harmonics in play! (AUDNZD analysis)Hey guys, i've been looking for this setup to complete for a very long time, now price has finally finished the AB=CD patterns i was paying attention to. The reason why i was so interested in these pattern is because their completion point line up pretty well with a daily and weekly structure looking left. Besides, also the 382 retracement of the bigger impulse lies right around there. The RSI is in oversold condition so we can start looking for price action in order to long this pair. Keep you updated! If you want to share your view, or just ask questions, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
7
GBPJPY Double Bottom at Structure!Hi guys, i've been watching this pair for quite a while, price has finally reached the daily structure i wanted to. Here we have two harmonic patterns already completed (Bat and Gartley) and price has formed a nice double bottom with RSI divergence. The first way you can trade it is by buying right now, with stops below the lows and targets at a minimum 1,25:1 RR. The second way is by waiting to see a break of the trendline, that would also mean a break of the double bottom to the upside (and then a 2618 strategy), and buying at the first retracement. That second way would be safer but you can also miss this trade. Now it's up to you. If you want to share your view, comment beneath. Otherwise, see you in the next chart!
Long
by Roker1
5
Two Harmonic Patterns at market on GBPJPYHi guys, i've been watching this pair for quite a while, price has finally reached the daily structure i wanted to. Here we have two harmonic patterns already completed (Bat and Gartley) and price has formed a nice double bottom with RSI divergence. The first way you can trade it is by buying right now, with stops below the lows and targets at a minimum 1,25:1 RR. The second way is by waiting to see a break of the trendline, that would also mean a break of the double bottom to the upside (and then a 2618 strategy), and buying at the first retracement. That second way would be safer but you can also miss this trade. Now it's up to you. If you want to share your view, comment beneath. Otherwise, see you in the next chart!
Long
by Roker1
2
Structure Play! (EURCAD analysis)Hi guys, i wanted to share with you this simple structure play. If you zoom out or if you give a look at the daily chart, you'll see that we are now testing a key structure zone on the daily. Therefore i use to lower a timeframe in order to catch an inversion with nice risk to reward ratio. This level also lines up pretty well with the 618 retracement and the psychological number of 1,4100. Plus, we've got RSI divergence and RSI overbought at this time. The clues are enough for me to take this trade, i'm waiting a pullback in order to get a better risk to reward ratio. Stop below the lows, targets as illustrated above. If you want to share your view or simply ask questions, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
Structure Play on EURCADHi guys, i wanted to share with you this simple structure play. If you zoom out or if you give a look at the daily chart, you'll see that we are now testing a key structure zone on the daily. Therefore i use to lower a timeframe in order to catch an inversion with nice risk to reward ratio. This level also lines up pretty well with the 618 retracement and the psychological number of 1,4100. Plus, we've got RSI divergence and RSI overbought at this time. The clues are enough for me to take this trade, i'm waiting a pullback in order to get a better risk to reward ratio. Stop below the lows, targets as illustrated above. If you want to share your view or simply ask questions, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
Harmonics on AUDCADHi guys, with a new week ahead i want to share with you this interesting situation on AUDCAD. On the daily chart we are now testing a key structure level: as we approach that level i go on lower timeframes in order to catch an additional confirmation of the upward reaction move. As you can see on the chart i found different clues supporting my view. At first, there are two adavnced pattern formations (Bat, Cypher) already completed at this level. Then, we also have a nice oversold condition on the RSI and price has just touched the 1.618 extension of the previous downward move and the 382 retracement of the daily impulsive move. So, these are the reasons that make me think it could be a nice spot in order to seek for long opportunities, such as double bottoms, engulfings, pinbar and so on. If you want to be updated, follow me. For any questions, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
Consolidation Breakout on EURJPYHi guys, today i want to share with you this simple consolidation pattern called triangle: it basically consists on one trendline and one horizontal structure level converging at the same level. Price is making lower highs and equal lows. As you can see on the chart above though, price has actually broken to the upside this trendline, also breaking the double bottom's neckline (giving us a 2618 entry technique). Plus, the black line represents an important daily structure level, and on the daily chart the RSI is in oversold condition. All these conditions together make me think it could be a nice spot to go long here. I'm waiting for the completion of the 2618 in order to enter long. Stops below the lows, target1 at the retest of the highs, target2 at the top of the triangle. If you have any questions, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
Be ready to change your mind! USDJPY now it's a long!Hey guys, after missing the shorting opportunity on this pair yesterday price is now back to the bottom of the chart, testing the daily structure i've drawn (yellow box). A bat pattern is completing right there and it's in confluence with an AB=CD 1,618 pattern. Also, we have some nice clues on the RSI, that's in divergence (both in the daily and 1hr chart) and in oversold condition (4H chart). If you take the Bat as entry reason be sure to put your stop loss below the X point, otherwise you could wait for further confirmation by price action and therefore reduce your risk. I'll keep you updated. If you want to share your view or simply ask questions, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
6
Bunch of cluen on USDJPYHey guys, after missing the shorting opportunity on this pair yesterday price is now back to the bottom of the chart, testing the daily structure i've drawn (yellow box). A bat pattern is completing right there and it's in confluence with an AB=CD 1,618 pattern. Also, we have some nice clues on the RSI, that's in divergence (both in the daily and 1hr chart) and in oversold condition (4H chart). If you take the Bat as entry reason be sure to put your stop loss below the X point, otherwise you could wait for further confirmation by price action and therefore reduce your risk. I'll keep you updated. If you want to share your view or simply ask questions, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
Possible Wave 3 to follow completion of Wave 2 (ZigZag).4 hour chart showing a 5 wave impulse being corrected by a 5,3,5 ZigZag pattern. Wave 4 of 5 in Wave C of the ZigZag is currently in progress. Price showing resistance at the 0.618 retracement level off the impulse. RSI touching/nearing oversold territory. Initial price target set at a 1.68 multiple of the impulse wave (2:1). Entry level only once the extreme of Wave B of the ZigZag is broken. FX:EURJPY Daily Chart supporting the idea of having an impulse as a Wave 3 of Wave 5. First ever post, I don't even have a demo account so obviously don't take too much from this.
Long
by ciano1993