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Overbought-condition

USDCAD: Retesting Previous Setup PostedUSDCAD Timeframe: 1D Direction: Short Confluences for Trade: - Upward momentum slowing - Price at Resistance Trend-Line (since June 18) - Stochastic Overbought momentum - Fundamentally, Canada's data is still strong, and Canada being a commodity currency was hit when oil price fell drastically, however, our view is that oil price has stabilize around this levels and this would provide a stop from USDCAD from weakening further. Suggested Trade: Entry @ Area of Interest 1.3200 - 1.3250 SL: 1.3318 TP: 1.3027 RR: Approx. 2.13 (Depending on Entry Level) May the pips move in our favor! Good luck! :D *This trade suggestion is provided on an advisory basis. Any trade decisions made based on this suggestion is a personal decision and we are not responsible for any losses derived from it.
Short
by weekendanalyst
USDHKD (1D): Take Advantage of the PegUSDHKD Timeframe: 1D Direction: Short Confluences for Trade: - Pegged currency, strongly defended at 7.85 (Limited risk; any break above the 7.85 levels is gonna be a crisis issue) - Stochastic Overbought momentum - Not directly related but Double Top Resistance for the DXY, helps support the drop in USD strength Suggested Trade: Entry @ Area of Interest 7.8365 - 7.8499 SL: 7.8573 TP: 7.7935 RR: Approx. 2.91 (Depending on Entry Level) May the pips move in our favor! Good luck! :D *This trade suggestion is provided on an advisory basis. Any trade decisions made based on this suggestion is a personal decision and we are not responsible for any losses derived from it.
Short
by weekendanalyst
ETHUSD 4H WILLIAMS %R MOMENTUM STRATEGY SHORTStep #1: Define the Trend. An Downtrend is defined by a Series of LH Followed by  a Series of LL.  The definition of an downtrend is pretty much standard. In an downtrend, we look for a series of lower highs followed by a series of lower lows. Two LH followed by at least another two LL is enough to define an downtrend. A lower high is simply a swing high point that is lower than the previous swing low. While a lower low is simply a swing low that is lower than the previous swing low. We all know that the trend is our friend, but without momentum behind the trend, we might actually not have any trend. In order to gauge momentum besides reading the best forex momentum indicator we also look at the actual price action. Step #2: In an Downtrend Look for Bold Candlesticks that Close Near the Lower  End of the Candlestick   A common concept in technical analysis is that you want to use multiple confirmation signs when buying and selling. This will increase the likelihood that’s a high probability trading setup. In this regard, the momentum trading strategy besides using the best Forex momentum indicator also incorporates the price action. A practical way to read momentum from a price chart is to simply look at the candlestick length. What we want to see in an downtrend is big, bold bearish candlesticks that close near the lower end of the candlestick. Step #3: Wait for the best Forex Momentum Indicator to get overbought (above -20) and then rallies below the -50 level before Selling.    We’re going to use Williams %R, the best forex momentum indicator in a smart way. In an downtrend, we sell after the best forex momentum indicator has reached overbought conditions (above -20) and then rallied back below the -50 level. Now, we have confirmation from both the price and the best forex momentum indicator that real momentum is behind this trend and the probabilities are in favor of more downside prices from here on. Note* If the best forex momentum indicator continually stays in oversold territory (above  -80 level) it signals a strong momentum and conversely a strong trend. Inversely the same is  true in a uptrend.  Step #4: Place Your Protective Stop Loss above the Recent Higher High We want to hide our protective stop loss above the most recent higher high level that formed right before the best momentum trading strategy issue the sell signal. Alternatively, you can also trail your stop loss above each most recent higher high. This strategy will allow you to lock-in the potential profits in case of a sudden market reversal. Step #5: Your choice how to Take Profit or Tke Profit once we break below the Previous Lower Low  A trend in motion can stay in that state longer than anyone can anticipate and since we want to maximize our potential profits we let the market tips it hands before liquidating our trades. In this regard, we look for a break in the trend structure respectively a break above the most recent lower low. Alternatively, you can take profit once the best forex momentum indicator breaks above the -50 level. Note** The above was an example of a BUY trade using the Best Momentum Trading Strategy.  Use the same rules for a SELL trade. In the figure below you can see an actual SELL trade  example.   
BITFINEX:ETHUSDShort
by Tradingstrategyguides
2
[EOS-ETH] EOS-ETHERIUM KILLER ROCKS!Closed my position on this trade. Took a nice profit of 81.85% from this swing trade in 5 days. This was nice. EOS is completely overbought in my opinion. It has already sold over 12% and I believe will start dumping hard. EOS is considered to be the etherium Killer! This block chain in my opinion will rock into the future very well! PS This is not financial advice. Do your own TA, give me a like and support my channel if you like my content! Thanks CryptoBuzzAnalyst
E
by CryptoBuzzAnalyst
Ready to sell on AUDNZDHey guys, this morning i want to share with you this setup i've noticed on this pair. Price has approached a resistance structure zone on Wednesday, and since then it's failed to create new highs and so it gave me reason to believe this is a good zone to short the market. In the daily chart we've recently exited an overbought condition and here on the 4hr chart you can see a nice divergence on the RSI. These are two clues that make me more confident on any particular trade. In addition price has created a double top with an engulfing kicker at the end of it. And pay attention also at the psychological round number that's sitting right there. I was waiting to see the marke open and for my rules it gapped too much, therefore i'm waiting for an additional confirmation of the sell. And there it is, another candle has closed engulfing right now. I'm selling this; stops above highs, target1 at 1:1 RR, target2 for extended target. If you have any question, feel free to ask below. Otherwise, see you in the next chart! Have a good week!
Short
by Roker1
7
Its A Roller Coaster; Beware of smart Money MoversIts Going down due to the following news from US(Watch Price Actions 6hrs From NOW) 1.Durable Goods Orders, released by the US Census Bureau 2.Initial Jobless Claims released by the US Department of Labor 3. FOMC Member POWELL Speech that therefore trigger a short term movement positive or negative trends 4. Funds are going out base on Money Inflow Indicator(Smart Money OUtflow due to overbought of GBP) 5. Series of Bearish DOJI like candle stick in the last 6hrs depicts a rejection for an uptrend. Watched Support and Retracement Level Happy Trading!
by Popoythegreat
2