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Stochastic RSI (STOCH RSI)

StochRSI and RSI Trading Strategy This is a strategy that is based around using the general value of the RSI to determine the trend and then using the Stoch RSI to pick and entry point. It also uses the RSI to determine a profit taking point or exit point from the trade. This version doesn't have a stop loss other than the signal to trade the opposing direction. Therefore it is more effective in higher trading time frames like Daily and Weekly. I have also added the function of selecting the time frame for which the strategy is applied to.
BITFINEX:BTCUSD
by Bluephantom
5
Possible BTC recovery signs??BTCUSD : DAILY Are we seeing a the clouds clear up?? If we fill out all of these scenarios we may see some serious recovery happen over the next month as we approach the tip of this wedge. I am seeing a Head and Shoulders pattern possibly fill out here pending some ideal conditions: - Stoch RSI double bounce, cross, and separation due to oversold condition signaling bullish movement upward. - RSI staying above or bouncing off of 32 level and increasing strength into the bullish zone. - And most ideally, a MACD crossover as close to, if not on, the Zero line. I see this consistently, MASSIVE bullish movement after a MACD cross ON the zero line. Oooooofffff course....... it could very well break out below the wedge, but that's not a happy thought. Plus I prefer to make rockets on my charts, not missiles =) The price might bounce off of the $7510 resistance, but will likely hit the $6950 to $7000 range before it begins recovery, this is kissing the current trend line as well as a strong resistance intersection point. Assuming these conditions are met and the price doesn't jump off of a cliff, we need to see some consistent closes above previous resistance lines, and hopefully we will see a positive breakout of the wedge come end of March or beginning of April. However, if it drops below that trend line, the next identified support is at the $6100 to $6200 range. Fingers crossed that I will not have to reevaluate due to those conditions..... I seriously put a lot of work into my rocket. -Spreck Standard disclaimer: This is not financial advice, just ramblings of some dude that likes looking at, and drawing on graphs.
BITFINEX:BTCUSDLong
by spreck
3
BTCUSD - Possible Short Term Increase to $13,202I am continuing my practice, so this shouldn't be advice that is actionable and is more of a thought exercise. This time around, I'm focusing on BTC pricing as I have roughly half of my holdings in BTC at the moment. Being a newbie, I did not have any idea about the need for liquidity to help with buying the lows, so I am looking for an opportunity to sell 25% of my BTC holdings when I am in the positive. I bought in mostly around $14,000 to $16,000 and did not know I should have sold closer to 18/19,000, so am currently at a loss, but that's ok since it's a lesson to me about crypto markets. It came at a cost, but is applicable inside and outside of crypto markets. The early signs of a pennant began soon after I started working on this chart and have progressed thus far in a way that fits into my initial belief. My understanding with bull pennants is that they are a variation on flags, but have a triangular shape rather than a rectangle pattern and generally continue upwards if completed properly. The caluclation for measuring the next potential increase in to take the difference of the poll from the top and bottom of the pennant. Top of pole/pennant: $12,688 Bottom of pennant: $12,219 Bottom of pole: $11,628 Difference of bottom of pennant and bottom of pole: $12,219 -$11,628 ---------- $591 Top of flag/pennant: $12,688 +pool Difference: $591 ----------------------------- $13,279 This is a bit above CoinTelegraph's prediction of $13,202 based on a head and shoulders pattern. ( cointelegraph.com ) TA NOTES: SUPPORT/RESISTANCE: -Red lines are resistance lines that are target breakthroughs for movement to a higher sustained level. -Orange lines indicate suport/resistance lines. If bottom orange line is broken, the the pennant may be in danger. -The lower blue line indicates the breaking into a downwards pattern the may post a higher higher, but it will be below $13,000. BOLLINGER BAND: -Band indicates that value is there, but mid line is about to have a cross in it that can indicate a downturn. RSI: RSI indicates fairly oversold, but with a movement downwards. STOCHRSI: StochRSI indicates possibly slightly oversold, but there is movement into the 0 line, meaning it is neutral.
COINBASE:BTCUSD
by Desreversti
Deka MDAX reversalMultiple indicators show a potential for a reversal or at least a retracement: - a rally started around February 2016, that broke resistance in December to continue with a bump (see the slope of the purple lines). This could be a typical "Bump and run" pattern - second top of a double top forming now, could confirm the reversal - Stochastic RSI 20 days moving average moved below 50, hinting a future trend change The bump, the double top and the StochRSI moving average all signal a trend revarsal. Plus, there hasn't been a real retracement since the all time high that was reached after the rally started. In case the trend identified by the Lead-in line is broken, the reversal could be confirmed, with new support at 234. Definitely not a good time to buy, but still a strong uptred is signaled by the Ichimoku cloud. This could end up simply in a retracement to 221 (61.8 fibonacci), also a potential entry point. Keep the eyes open.
XETR:ELF1Short
by sirnicolaz
XRP price set up: long term analysisIt looks clear to me that XRP will continue to go down for some time now. Fibonacci retracement shows .00015545 as the 61.8% level while the StockRSI does not show signs of over-sold yet. Ichimoku is consistent, the price has not yet gone below the base line. Once the price reaches .00015545, the set up needs to be re-examined to see if it goes to test the 50% Fib (at .00012715) or we have a buy signal (if RSI shows oversold and price has gone above the Ichimoku conversion line). So nothing on the short term.
Long
by fastmoveforward
USDJPY Bounce off Support ZoneIf price falls to the support zone at 111.65, I will be looking to buy in this oversold market. If anyone trades with a Stochastic RSI or just a plain stochastic, they will see that selling when it reaches overbought and price is in a downtrend or ranging, is profitable. The same goes for buying when the stochastic is oversold and price is up trending or ranging. I will be looking for bull confluence with bearish exhaustion candles and possibly a bullish engulfing if it forms.
Long
by MtxTrader
2
Gold StallsGold stalled today and ended the day just above the BB Midpoint. Today's hammer is a bullish candlestick so while price is still under the 6 and 8 day MAs and the stoch RSI is moving down, I want to see confirmation on Monday as to the direction of Gold's next move. Also note that the hammer shows rejection of the range below as shown on this chart: This is also not very bearish. Due to these mixed signals, and the fact that today was contract rollover for Gold Futures, I closed my positions, banking a nice 18 point per contract profit.
COMEX:GCG2017
by GoldBands
Time Warner (TWX) Heading for Crash?Technical: It seems TWX stock is now heading for a disaster, looking at the monthly and weekly charts, we have just completed a very lengthy correction, over several years in the making. My Elliott wave analysis for this pair, shows that if the current trend continues, the next impulse wave will send the stock to a crash. MACD confirms the end of the current upmove (the correction) and will now start to continue in a bearish trend. RSI and Stochastic, both indicate Overbought condition which aligns with the downward trend on the chart. Fundamental: Due to the continual irresponsibility of CNN management, employees not checking sources, stories and basically broadcasting irresponsible journalism and basically perpetuating political bias (where no doubt stakeholders have also been offended), the market is fast losing confidence as, once President Trump enters the White House after the official inauguration, legal and federal action will most likely be taken against the broadcaster and several anchors, thus the value of this stock will drop considerably, very quickly. CNN has already been caught out numerous times in broadcasting fake news, all based on innuendo and rumor, without being fact based. This last episode today (12-Jan-2017 goldengatepee), originally published by buzzfeed, is noted as being totally fake. CNN's management have also failed to address this problem, as it seems anchors and journalists are making core decisions, rather than CNN's management. In my opinion, CNN is in an absolute mess and stakeholders are getting cold feet. The only way to save the stock, would be to address political bias and lazy journalism, something I cannot see happen anytime soon. Therefore in lieu of the above analysis, I'm going to short this stock, trading with larger than usual lot size in order to maximize profit. If this trend is confirmed within the next couple of months, we should see a very rapid drop, at least to the base trendline, within a relatively short amount of time. ---------------------------------------------------------------------------------------------------------------------------------------------------------- DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar. Please do not trade this chart if you do not have your own strategy. Trade only with your own strategy. Some very wise words: Plan your trade and trade your plan... and IF in doubt, stay out. .....::::: If you like this chart, please click on the THUMBS UP ! :::::..... ----------------------------------------------------------------------------------------------------------------------------------------------------------
TShort
by UnknownUnicorn661419
NFP - How Will Gold React to Non Farm Payroll?Good Evening Traders! Well, here we are again, Gold trading just above the 1250 mark. Today was a solid day down, with Gold trading 16.7 points off the opening to close at 1253. We have come right to the top of this support area that was last seen on June 24, the day the British approved Brexit, and the day when Gold rallied 108 points in 1 day!. It's amazing isn't it how these cycles play out; 3 and a half months later and we are on the verge of another volatile day, but this time its Non Farm Payroll Friday. As you can see in the chart, we have been riding the extreme edge of the Bollinger Bands. And as we know, this is not a sustainable situation as price will almost always pull back from such extremes. You can also see on the Stoch RSI that the green signal line has final crossed over the magenta line. While this doesn't necessarily mean that the down cycle is over and that price will reverse, it does give us a clue that it might happen soon. And given Non Farm Payroll day, the safest play might be to go to cash and protect your profits. To recap, the 3 main factors to thinking that the pullback might be over are: Price has spent 3 days on the outside edge of the outer Bollinger Band Price is right at the upper edge of a major support zone Stoch RSI signal line has started to cross above the magenta line Following my own advise, I am closing all of my current short position except for 1 contract which will be a runner. With the stop at set at break even, it's a very safe play. Safe Trading and Protect those Profits!
COMEX:GC1!Short
by GoldBands
Gold Blasts Through All Major Support LinesGood Evening Traders! I've been calling for the bottom of the current cycle and last night I pointed out that there was major support below my current Gold short @ 1305. There was the upward trend line dating back from January, the channel bottom from July 1, and the bottom BB Band (2.0 Std Dev), all sitting right at 1305. This was also confirmed by a Stoch RSI that was about to break below 20, signalling the possible end of this latest downward cycle. I went to bed last night confident that my final profit target of 1305 would be hit in the morning, ending my latest short that started at 1331. Well, boy did I have a surprise when I woke up in the morning! I mean, price didn't even hesitate at the 1305 level. It blasted right through 1305, 1300 and there was no stopping it. If you look at any shorter time frame, you will see that this move down was dramatic and without any real pause or pullback. In my post last night, I stated that the Stoch RSI is not a binary indicator. This means that just because it is oversold or overbought, doesn't mean that the cycle is over. The indicator can stay in these oversold/bought conditions for quite a some time. Look at the chart below. I've called out the period in late August when the Stoch RSI stayed oversold for over a week while price continued to move down. If you're thinking of going long, I'd recommend waiting for the Stoch RSI green line to break above the 20 level and cross over the magenta line. If you want to go short, you can wait for a pullback. The bottom BB is at 1283. That could be a good entry point. That is, if price retraces that much. Trade Safe and Protect Your Profits!
COMEX:GC1!
by GoldBands
Using Multiple Timeframes to Enter a TradeHello Traders! As many of you know, I use the Stoch RSI as my main cycle indicator. As an indicator of an indicator, it normalizes the RSI indicator itself and provides excellent guidance on the price cycles of Gold. And while I base my daily analysis on the Daily time frame, I use 2 shorter time frames to enter my positions. These time frames are 30 minutes and 60 minutes. Let me give you a real life example from yesterday of how I added to an existing short position. Last week ended with a beautiful down candle on the daily chart. Long upper wick and a full body that closed just a few points above the bottom of our wedge. With plenty of room left on the Stoch RSI before it crossed the 20 line, I wanted to add another position to my existing short. But I new that I didn't want to jump in at Friday's closing price. So how could I gauge any potential pullback and set an entry price? The first thing I did was to look at the 30 and 60 min charts, specifically to find where price was on those charts in relation to the overall down cycle. Here is the 30 min chart on Sunday night at 11 pm PST. It's clear from the Stoch RSI that price was at the bottom of it's cycle. Not an ideal time to enter a trade. And the same was true on the 60 min chart (bottom chart). Therefore, I wanted the Stoch RSI to cycle up to get the best possible entry price. Looking at the BB, I placed a limit order at the inner BB (1.0 Std. Dev) @ 1321, thinking that would give both Stoch RSIs enough time to complete an up cycle. Turns out that was pretty close to the high of the day! I have had the best entries when I wait for the cycle indicators across multiple time frames to get in sync. Waiting for harmony across multiple time frames is a great way to create a repeatable system for entries and really helps to remove emotions from your trading. I would love to hear if this technique is helpful! Safe Trading and Protect Your Profits!
COMEX:GC1!Education
by GoldBands
2
TSXV Micro-Cap Trend TradePure Energy Minerals has been on an uptrend over the past few months. As you can see on the chart, price has been following a trend line that the stock has recently met again. The price has been respecting the 20MA - 50MA during the uptrend and price is currently positioned right under the 20MA, for me this looks to be an area of value to buy for the next move up. It has just had a very bullish day and the StochRSI has shown it moving up from an oversold level, also the Squeeze Momentum Indicator is showing that the squeeze is currently on and the MACD is about to cross to a bullish signal. Next resistance is around $0.93 and my price target is $1.06 Trade valid until price closes below trend line.
TSXV:PELong
by juniortrader
Next Leg Up?Goldsource Mines has been on a clear uptrend over the past months. Every time it has had a new leg up it can be easily seen by a few inidications. 1. A broken Trendline 2. An oversold signal on the Stochastic RSI 3. A MACD crossover 4. Price meeting support at the 20MA or the bollinger bands. GXS has just shown all of these signs and is looking like it is ready for its next leg up. It is currently trading 14% away from the upper bollinger band and the stocks all time high. Keep in mind every other time is has had one of these moves it has broken the upper BB, so this is looking like a possible 14+ percent move.
GLong
by juniortrader
4
Climbing Higher with SilverA short term downtrend has been broken and there are several indications to buy. Volume has been increasing, MACD is showing it is about to cross, Stoch RSI is showing that the stock is not trading at an overbought level, and it is trading just above the 20 Day Moving Average which has been acting as a line of support/value for the past few months. Also with the recent rally of silver, this stock will climb even higher with its large silver mining projects in Peru having an estimated 290 million ounces in reserves.
TSXV:BCMLong
by juniortrader
5