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Rsi_oversold

Possible Wave 5 to follow completion of Wave 4 (Triangle)It appears 5 subwaves of a Contracting Triangle have completed in wave 4. It looks like this Contracting Triangle may be the full corrective move of wave 4 since it has reached the .382 fib retracement of wave 3, this is the most common retracement for a wave 4. It also appears to have ended near extreme of wave 4 of one lesser degree in the impulse which is another common price level for a corrective move in wave 4. This wave 4 is also in correct proportion to wave 2. The RSI indicator supports my prediction that wave 4 has ended. RSI Range Rules say that in an up-trending market RSI will typically fall back to the 50-40 zone in a corrective move and bounce up at its completion. The Stochastic is also nearly showing oversold conditions. Entry: Conservative entry on the break of the wave D extreme. Stop Loss: Just below the extreme of wave E. Targets: My system says pattern over hard take profit targets so I will wait for a 5 wave impulse to complete while managing the trade along the way (Lessen Risk -> Eliminate Risk -> Protect Open Profits). As a guideline wave 5 could possibly end around the line drawn from the extreme of wave 3, parallel to a line connecting the extreme of waves 2 and 4. The other 2 targets are based on wave 5 being equal to a .328 multiple of the net distance of wave 1 through 3 and being equal to a .618 multiple of the net distance of wave 1 through 3. All of these are common fib multiples for wave 5 in an impulse.
Long
by ciano1993
Double Bottom at Structure!Hi guys, here we have a double bottom at a previous structure level on the 4hr (in this case our higher timeframe). The last candle signals also buying pressure, together with RSI divergence. That's enough for me to consider taking this trade. Stops below the low, first target at the retest of the highs, second target at 618 retracement of the previous move. If you want to share your opinion or just ask questions, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
Double Bottom on EURJPYHi guys, here we have a double bottom at a previous structure level on the 4hr (in this case our higher timeframe). The last candle signals also buying pressure, together with RSI divergence. That's enough for me to consider taking this trade. Stops below the low, first target at the retest of the highs, second target at 618 retracement of the previous move. If you want to share your opinion or just ask questions, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
14
Structure Exposed!!Hi guys, this is a simple structure trade: you can see price is coming back to retest the former resistance that once broken should turn into support. This is also lining up pretty well with a 618 retracement and a psychological number (1,40). You can see also a pin bar just formed with OVERSOLD condition. All those clues together make this trade a nobrainer. If the current candle will reject again that level i think i'm going to buy. Stops obviously below the pin, target1 and 2 with 382 and 618 retracement. Always look left. Structure leave clues! If you want to share your thoughts or ask questions, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
Structure Exposed!Hi guys, this is a simple structure trade: you can see price is coming back to retest the former resistance that once broken should turn into support. This is also lining up pretty well with a 618 retracement and a psychological number (1,40). You can see also a pin bar just formed with OVERSOLD condition. All those clues together make this trade a nobrainer. If the current candle will reject again that level i think i'm going to buy. Stops obviously below the pin, target1 and 2 with 382 and 618 retracement. Always look left. Structure leave clues! If you want to share your thoughts or ask questions, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
More clues make an evidence!Hi guys, i want to bring your attention to this situation on CADJPY. Here we are on the 4hr chart but i usually start my top down analysis from the daily. On the daily i've outlined with the black line the structure level where price is sitting right now. This is the first thing i look for to create a case for entry. Also, in the dialy timeframe price has recently gone oversold. As we go down on the 4hr you can see how price has reacted to that level. At the first test there's a pin bar (long wick), at the second test price fails in making new lows. What does it tell us? Maybe trend is changing. In addition to that, the RSI on this timeframe is in divergence. All this clues together boost my confidence on this particular trade. Stops below the low. Target1 at 1,20 RR roughly, target2 to be determined. Let's see. If you want to share your viewpoint, please don't hesitate to comment. Otherwise, see you in the next chart!
Long
by Roker1
More clues make an evidence! (CADJPY Analysis)Hi guys, i want to bring your attention to this situation on CADJPY. Here we are on the 4hr chart but i usually start my top down analysis from the daily. On the daily i've outlined with the black line the structure level where price is sitting right now. This is the first thing i look for to create a case for entry. Also, in the dialy timeframe price has recently gone oversold. As we go down on the 4hr you can see how price has reacted to that level. At the first test there's a pin bar (long wick), at the second test price fails in making new lows. What does it tell us? Maybe trend is changing. In addition to that, the RSI on this timeframe is in divergence. All this clues together boost my confidence on this particular trade. Stops below the low. Target1 at 1,20 RR roughly, target2 to be determined. Let's see. If you want to share your viewpoint, please don't hesitate to comment. Otherwise, see you in the next chart!
Long
by Roker1
5
What's structure telling us? (EURAUD Analysis)Hi guys, this time i want to share with you a simple structure trade, in order to let you understand how i analyze markets so that i can find the best opportunities. I utilized two charts in this case for you have to get the reasons behind this thought process. In the left hand side of your screen, there's the 4HR chart, and you can see price has created two consecutive new structure high, that is the definition of an uptrend. Now, in order to get on the trend we must wait for price to come at our comfortable zones (where we can exploit the market): in an uptrend there are two levels to be careful of, the first is the broken resistance that could become support, the second is the previous support. Right now price is sitting right in the previous support zone and it seems to be forming a double bottom (with RSI divergence) that could give us a nice trading opportunity. Also, notice that there's the 618 retracement and a psychological number lining up in this yellow box. Definitely keep an eye on that. I'll update you in case of entry. If you have any question, or you want to share your viewpoint, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
5
Structure speaks to us! (EURAUD analysis)Hi guys, this time i want to share with you a simple structure trade, in order to let you understand how i analyze markets so that i can find the best opportunities. I utilized two charts in this case for you have to get the reasons behind this thought process. In the left hand side of your screen, there's the 4HR chart, and you can see price has created two consecutive new structure high, that is the definition of an uptrend. Now, in order to get on the trend we must wait for price to come at our comfortable zones (where we can exploit the market): in an uptrend there are two levels to be careful of, the first is the broken resistance that could become support, the second is the previous support. Right now price is sitting right in the previous support zone and it seems to be forming a double bottom (with RSI divergence) that could give us a nice trading opportunity. Also, notice that there's the 618 retracement and a psychological number lining up in this yellow box. Definitely keep an eye on that. I'll update you in case of entry. If you have any question, or you want to share your viewpoint, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
TRVG - Don't Wait - TRIVAGO LongNot a lot of history, so we have to look at the 1h. ON daily screen Connors 2 Period registered an extremely low 8, indicating oversold. ( yellow rectangle)There has been nice volume. On the hourly chart we have a bullish sash pattern that complete earlier today. TSI has moved up and crossed signal line. Elliot wave count could be either starting new wave 1 as we have just completed A-B-C correction, or a larger view would have it as completing wave 2 of the next higher degree. Stop for short terms can be just below the completed candle. For a longer view, stop at 10.85 , as Elliot says wave 2 cannot retrace 100% of wave 1. Short term target 12.24 for a quick in and out of about 4%. Long term can be much higher point B minimum.
NASDAQ:TRVGLong
by AuthenticTrader
EUR/USD Falling Wedge Long 08-03-2017 (AP)Hello dear traders & welcome back to Growing Forex Try creating pockets. Micro news to follow today which will change the outcome of EUR/USD. 1.ADP employment change. 2.Unit labour cost 3.Non-farm productivity. 4.10 years note auction. Euro poised against the Dollar after gaining momentum previously & lost its shore today. A possible recovery from 1.0560 levels or the levels shown in the chart can trigger up to 1.0622 & initially 1.0700 levels. RSI is currently over-sold indicating a short term buy from 1.0550 levels its target should be near the pivot of 1.0577. A chart pattern of falling wedge is a perfect example for this scenario with RSI oversold with price reaching the Retracement level of 61.8%. The sentiments of the Traders remains 55% Buyers Drop by 2% today (yesterday 57%). Good-luck, Regards, Growing Forex.
Long
by GrowingForex
CHK Ascending Triangle PatternCHK had strong downward channel trend that turned around in Feb 2016. Ascending triangle pattern formation, on monthly, weekly and daily timeframes, for long-term swing in price to break upper resistance @ ~$8.00 (this is daily chart). Again, RSI has been so graceful in confirming possible short or long entries for the whole duration of the triangle's existence. RSI expected to drop with price (yellow ellipse on RSI chart); personally expect move to about $6.30 (yellow circle on chart proper), then turn around for upward swing to $8.00 resistance level. If CHK can break $8.00, it can be a huge feast from there (possibly hit old $13 support level); it's a waiting game now. Wait for RSI confirmation and enter long around $6.50-$6.30. However, outcome of earnings has potential to make or break chart pattern.
CLong
by AtoHoward
40 Day Consolidation into 'Black Swan'I really only publish charts so I can say "I told you so" to IamNomad later on. The general idea is that price quickly retraces 50% of the dump while consolidating on RSI = 50. Also, watch for cloud support to hold until the bearish TK cross (Red over Green). A daily candle close inside the cloud with a bearish TK cross would be a reliable signal the fractal has decided to break down. The other important aspect of this idea: when technical & fundamental factors combines, a large price move occurs due to high momentum . A break of the fractal post-consolidation, in addition to a Bearish news event, would give price plenty of momentum to retrace down the entire consolidation period and then some (see:bitfinex hack on August 2nd). Are these perfect comparisons at the moment? No Is this super early on and probably won't pan out? Yes Are there enough comparisons here to even bother considering this? Yes Will the RSI load later on when you hit play? No Can an event be considered a Black Swan if it is predicted ahead of time? No Do I want this to actually break down again? No Some dates to consider: Valentine's Day - Feb 14th Chinese traders love pumping or dumping around American holidays. SEC Winklevii ETF Announcement - March 11th This would obviously break the "buy the rumor, sell the news" paradigm, so it's more probable we dump on the actual announcement than before. But, a dump may occur in an attempt to shake out weak hands so that institutional money can fill their bids. Considering a "No" from the SEC likely has 0 effect on the market (based on past SEC decisions of the ETF), I'd like to weigh a "Yes" from the SEC more heavily. The ETF is important because, like the SPDR ETF did for Gold, it will likely bring BTC trading availability to traders who were not otherwise in the market. There are also other BTC ETFs in the pipeline in various parts of the world. Should the Winklevii ETF fail to get approval, odds are that one ETF somewhere eventually will be approved. Other: Segwit Who knows if/when this will complete. I expect shenanigans in price action if/when it gets close to being adopted. Watch that metric here - bitcoincore.org People's Bank of China Unlikely, but not impossible that China does finally decide to 'ban bitcoin'. Should this happen, expect mega dumps. Trump ends the FED Unlikely, but not impossible that Trump ends the FED quickly while coming to office sending digital currency through the roof or to the core. Trump mentions Bitcoin in a Tweet Unlikely, but not impossible that Trump tweets about bitcoin causing price to skyrocket from new user interest. An exchange gets hacked Always a possibility but I'm not sure if there are any exchanges that, if hacked, would actually move the price in a substantial way, other than the Chinese exchanges (OKcoin, Huobi, BTCChina).
OKCOIN:BTCUSDIDX
by IAmSatoshi
9