MACD & RSI Divergence, definitely losing momentum, looking for a sligh pullback and then short... thoughts?
The major uptrend has been tested, price is also diverging with RSI and is now above the EMAs - Long
Not too much on the radar this morning, but there are a few Trend Continuation Opportunities that interest me, one being here on the GBPAUD. This opportunity not only features a pullback into our previous outside return, but Hidden Divergence on the RSI which is a positive sign when looking for a continuation.
Monthly RSI divergence. Price trading outside of long-term price channel (dating back further than 1987). Price tested the "supply (overbought) line" to the mid-term price channel (dating back to 2009) and got rejected (red arrows show past and present rejections of this line). We are due a big bear (recession) market. Look to the bottom of this huge long-term...
Price has run into a major low and demand zone, the RSI is trending higher showing some divergence, if price breaks trend expect a retracement to the major trend line and 61.8% fibs also, keep stops below major low for a 2:1 trade.
XAUUSD is forming a H&S on the H1 timeframe, look to be short on a break of the neckline, this is backed up with divergence on the RSI. We are also at the top of the bearish channel on the H4 timeframe.
Price is making lower lows but the RSI is trending higher showing the downward momentum is fading, a break of the channel confirms my long position.
This is the daily chart there is a head and shoulders forming if it follows through and breaks down we should see price move down and find support at the longterm trend line. The short is also supported by the fading momentum shown by the RSI Divergence and the Stochastic is in the overbought area.
The RSI can be a great trading tool if used properly. Most Traders use it for an overbought/oversold indicator and that is the worst use of the RSI. As you can see from the chart, there are multiple short term trade setup in this one hourly chart. Although I am only showing 3 examples there are many more setups on this chart but did not want to make a mess...
"trade what you see" #MinimalPullbackZone
Crude oil for me is likely to move yet closer to $40 per barrel. However, this strong RSI divergence and high level of structure indicates an imminent pullback. Buy now and short later.
Hello traders, found this great opportunity earlier on USDCHF daily chart.. 1) Great risk/reward 2) RSI shows bearish divergence as this pair double topped 3) Bearish sign in candle's wicks for the past 4 days Good luck :)
As we got double top in EURUSD we can initiate short positions. If first swing high is also taken into account we have triple top in EURUSD and if you note the RSI it showing bearish divergence which makes the double top more valid. Check your risk Reward before entering any trade. Hit Likes if you agree...Thanks for your support ! Happy Trading !
After the RBNZ announcement cancelled the last NZDCAD short, a new opportunity has presented itself. A bearish WW has formed with the touch of the 2-4 parallel confluent with the 50% retracement level. We also have a potential E point of an expanding triangle complete which may mark a larger reversal from these levels. On the daily chart, the pair is contained...
- OBI (div.) - RSI div. - @ prev. str. - ABCD COUNTER TREND!
- FIB confl. - RSI div. - Gartley - ABCD - Structure - Trend cont.