Counter Trend and Trend opportunity on OIL
- OIL approaching resistance the 61,8 FiB and Upper Trend Line
- RSI is over bought and we have a big RSI divergence
A pull back is expect back to 60.00 level (Confluence of 38,2 Fib and 61,8 Fib retracements)
Triple hit on trend line, RSI over brought and diversion. Also lines up perfectly with fib at 0.786 level. Great opportunity I would even eat my own shit if this goes long. Don't miss out!
Please comment and let me know your views.
it's been a long time without posting. I've continued doing some analysis on the italian section but i've not had the time to publish my analysis here also. I'll try to publish more on the following weeks.
I'm back with a very interesting analysis on AUDCAD. I'm not used to trade on Friday but i wanted to bring you something because i think it represents...
Only on USD exchanges since USDT exchanges closed at a different price.
Fractal for bull market of 2015-2016. Back then we saw a bull market (from the end of the 2013-2015 bear market) which ended with a weekly bearish divergence on the RSI.
The bottom of the following ~70% retrace in 2016 was marked by a bullish weekly divergence.
Now we can see that the...
The TRY has dropped over -3,5% against some majors, over 1800 pips in less than 2 hours, since Turkey´s central bank has hold the interest rate level at 17,75% unexpectedly.
After the huge spike of the USDTRY, now it is pulling back after being unable to break the 4,98 level for the third time.
Even though the USD is experiencing a huge spike...
this is quite particular as a case study. Here on GBPCHF i've gone down to a lower timeframe because i was looking at the daily chart and i saw a double top with RSI divergence. Thus i went on the 4hr chart and looked for trading opportunities at the retest. Guess what i've found: another double bottom with again, RSI divergence at the second test. At...
this is the hourly chart on EURJPY and i'm taking this long trade because of several reasons. First of all, we're in a strong supporto zone on the daily chart and we're also creating a nice divergence on the RSI there. Then, if we lower a timefeame (4H), you can see a couple of pinbars (candles with long wick to the bottom) signaling buying pressure...
there are several reasons why i'm going long on this pair. For starters, price is testing a very important structure level that you can see both on the daily and weekly timeframe, and in doing so it's creating a nice divergence on RSI on the daily. Moreover, if we lower a timeframe, we can see on the 4HR that we have two engulfing candles (one after...
in front of you, there's the hourly chart of USCHF. The yellow box represents a daily level of structure that i've pointed out in my higher timeframe analysis; this is also associated with a strong overbought condition (more than 7 consecutive green candles on the daily) and a divergence on the 4H and 1H charts. In this case, we also have a double top...
Focusing on just one indicator for a while can really increase your skills with that indicator, and refine them to the point that these things become very easy to spot. Look how both times the divergence led to a price drop.
this is a real time trade here. On GBPCHF price has reached a level where often times in the recent past it's found resistance or support. You can see every time it got there, price had some kind of reaction to that level. Now price has come back to it and it's forming RSI divergence while climbing up. The last candles make me think we could be headed...
i've been looking at this pair for a long time now. First, i've missed an opportunity to go long at the 82.00 level. Then, i saw price climbing up toward what would've been our potential target for a big pattern that was completed on the higher timeframe, namely the daily tf. Now, price has touched the 38.2 level of the bigger leg and has shown some...
this is interesting: on EURNZD we're testing a key structure level on the daily and we've also formed a nice Bat Pattern that's completed and that's not yet hit targets. Around the completion zone, price has also created a nice double top with RSI divergence that makes me comfortable in taking this short with stops above structure and targets down below...
Crypto Charting Exercise:
An interesting method to spot "tops" for Bitcoin
1 Day $BTC chart in Log view.
Add RSI indicator.
Look for "RSI Divergence" = Where the RSI Chart does the opposite of (diverges from) the price chart.
I drew lines from daily close.
Spot a juicy pattern?