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Stochastic Oscillator

EURJPY Impulse Sell|Local Support Retest|Daily Resistance TargetEvening Traders, Today’s Analysis – EURJPY – breaking daily resistance with no follow through, a retest of local support is likely for a probable bounce. Points to consider, - Impulse sell off - Local support ( trade location) - Daily Resistance (immediate target) - Oscillators (not currently overextended) - Volume Climax ( follow through) EURJPY impulse sell off is approaching market structure – local support – if price action holds this level, a bounce will be probable. Local support is the immediate trade location on the chart. A daily resistance retest is probable with a relief rally from support, common after impulse sells. The oscillators are not in overextended conditions, indicating further sell momentum likely. The more overextended the oscillators get, the more likely an oversold bounce. There is an evident volume climax node, a temporary bottom was not set in as bear volume continued to push price. Overall, in my opinion, local support is likely to show its significance, a bounce into daily resistance will allow for a relief rally. How price action reacts to daily resistance will dictate the overall trend. What are your thoughts? Thank you for following my work ! And remember, “The core problem, however, is the need to fit markets into a style of trading rather than finding ways to trade that fit with market behavior.” – Brett Steenbarger
Long
by The_Alchemist_Trader_
7
RVN Structural S/R Flip| Pivot Point| .618 Fibonacci| RSI WedgeEvening Traders, Today’s Analysis – RENBTC – trading above structural level with Fibonacci confluence, RENBTC is likely to rise up validation of this level. Points to consider, - Structural S/R Flip (Retest) - Technical Confluence (Trade location) - RSI Falling Wedge pattern - Bull Impulses (PA validation) RENBTC is re-testing its structural S/R flip; further candle closes will solidify the level. This is a key support with technical confluence; market structure, key Fibonacci level (.618) and a Fibonacci Extension. This indicates a true trade location and a pivotal point on the chart The RSI is in a falling wedge pattern, breaking in either direction will dictate the overall trend. Stochastics are over extended, can stay trading here for an extended time, momentum is stored to the upside upon a valid buy cross. Overall, in my opinion, price action will dictate the overall trend, strong bull impulses will be a sign of a probable parabola. Validating support will be very bullish, RENBTC will likely rise to Fibonacci targets. What are your thoughts? Please leave a like and comment, And remember, “Dangers of watching every tick are twofold: overtrading and increased chances of prematurely liquidating good positions” – Jack Schwager
Long
by The_Alchemist_Trader_
9
GBPJPY Bear Impulse | Structural Resistance| Range Support Evening Traders, Today’s Analysis – GBPJPY – clear impulse bear move from resistance, next structural target is range support. Points to consider, - Impulse sell off - Range mid-point (bearish retest) - Range support target - Oscillators overextended GBPJPY had an impulse sell off putting in a volume climax node, marking an end to the temporary sell off. Range mid-point has been tested with a bearish retest, failure at a second attempt will solidify the level and make the immediate target – range support. Both oscillators are coming off from oversold conditions, breaking below 50 will signal weakness in the market. Overall, in my opinion, price is likely to test range midpoint, failure to break will increase the probability of testing range support. What are your thoughts? Please leave a like and comment, And remember, “Where you want to be is always in control, never wishing, always trading, and always first and foremost protecting your butt.” – Paul Tudor Jones
Short
by The_Alchemist_Trader_
2
GOLD Inv. Head and Shoulders| Range Resistance| .618 Fibonacci Evening Traders, Today’s Analysis – GOLD – trading in a range with a probable inverted head and shoulders, further price development is needed. Points to consider, - Impulse bull move (range resistance) - 200 Moving Average support - Neckline target - Oscillators above 50 GOLD retraced from range resistance to the .618 Fibonacci where it established its probable right shoulder. The moving average is a key local support to hold above, price actions have been reacting of it strongly. The Neckline is in confluence with range resistance, is it the immediate target to breach in order to validate the pattern. The oscillators are trading above 50, this is indicating strength in the market, momentum still needs to shift further. Overall, in my opinion, GOLD needs to break range resistance in order to validate the H&S pattern, failure will negate the formation What are your thoughts? And remember, “If you can’t take a small loss, sooner or later you will take the mother of all losses.” – Ed Seykota
TVC:GOLDLong
by The_Alchemist_Trader_
4
NZDUSD Short Liquidity| Daily Resistance| Local Support Target Evening Traders, Today’s Analysis – NZDUSD – impulse move above daily resistance with an immediate sell off, indicating a liquidity pool. Points to consider, - Impulse bull move ( Volume Climax) - Short liquidity (Daily Resistance) - Bearish Engulfing candle (Short Selling) - Local Support target - Overextended Oscillators NZDUSD’s impulse bull move ended with a volume climax node, indicating a temporary top. Price closed candles above daily resistance with no bull volume follow through allowing for short liquidity. Confirmation was on a bearish engulfing candle back below daily resistance. The Oscillators are both recovering from over extended levels, a lot of stored momentum to the downside. Local support is the immediate target, price respecting this level will confirm an S/R flip. Overall, in my opinion, NZDUSD is likely to impulse down if this is a true liquidity grab. A bounce is likely at local support as this is a technical trade location. What are your thoughts? Please leave a like and comment, And remember, “If you don’t respect risk, eventually they’ll carry you out.” – Larry Hite
Short
by The_Alchemist_Trader_
2
USDJPY Impulse Bear Move| Range Support| Resistance Confluence Evening Traders, Today’s Analysis – USDJPY – Impulse move into daily support with an oversold bounce recovery. A swing low failure in the RSI will show strength, immediate target will then be range resistance. Points to consider, - Trend oversold bounce - Range support retest - Resistance confluence (200&21 MA, Range Mid-Point) - RSI below 50 (Weakness) - Stochastics projected up USDJPY is currently testing resistance, multiple confluences with the range midpoint and the Moving Averages. Price is likely to retrace back into Range Support (Retest) to solidify an S/R Flip. The RSI is below 50, indicating weakness in the market. If the RSI puts in a swing low failure at Range Support, this will indicate a probable bounce. The Stochastics current momentum is shifted up, no official sell cross, it can stay here for an extended period of time. Overall, in my opinion, USDJPY is likely to retest Range Support; this will solidify the level with the immediate target being Range Resistance. A further sell off is likely at Range Resistance due to the magnitude of the impulse sell off. What are your thoughts? Please leave a like and comment, And remember, “The market is a device for transferring money from the impatient to the patient.”- Warren Buffet
Long
by The_Alchemist_Trader_
8
ETHBTC Double Bottom| Apex| Lower Highs|Break Imminent Evening Traders, Today’s Analysis – ETHBTC – Trading at key structure, daily structural support is in confluence with down the down sloping resistance, ETHBTC is in its Apex. Points to consider, - Double bottom trend - Trend line resistance (Lower highs) - Daily Structural Support - Stochastics overextended - Apex (break imminent) ETHBTC is trying to establish a trend chance by putting in a valid double bottom . Breaking resistance will further solidify the double bottom as the neckline will be breached. This will also negate the lower high projection Daily structural support is in confluence with resistance, hence why ETHBTC is coiled up in its apex. This is an indication of a break being imminent. The stochastics is in the upper regions, a lot of stored momentum to the downside. ETHBTC usually has an impulse move down with stochastic momentum from current resistance. Overall, in my opinion, ETHBTC is at pivotal point in the chart, price is coiled up in its Apex , indicating a volatile move being imminent. Break in either direction will give a direction bias for a long or short. Breaking bearish will be a sign of a possible larger pattern being at play, the Descending Triangle What are your thoughts? Please leave a like and comment, And remember, “The desire for constant action irrespective of underlying conditions is responsible for many losses in Wall Street.” – Jesse Livermore
Short
by The_Alchemist_Trader_
7
BTCUSD Key Levels|Pivotal Point|Volume Climax|10K PsychologicalEvening Traders, Today’s Analysis – BTCUSD – breaking down once again from the $10,000 Psychological level, now trading at local resistance. Points to consider, - Impulse bear move down - Local resistance (multiple confluences) - Range support (bear target) - RSI and Stochastics overextended - Volume Climax evident. BTCUSD’s impulse move down broke below local resistance which has multiple technical confluences. The 200 MA is in confluence with the .382 Fibonacci retracement , body candle closes below or above this will give us a directional bias. The bear target is range support; BTCUSD is in a clear range on the daily timeframe Both RSI and Stochastics are recovering form overextended conditions, a swing low failure will be a bullish sign. BTCUSD has established a volume climax node; this usually indicates a temporary bottom as price finds its equilibrium before its next impulse move. Overall, in my opinion, BTCUSD’s price needs further development; price action will help with the directional bias as this is a pivotal point in the chart. What are your thoughts? Please leave a like and comment, And remember, “The game of speculation is the most uniformly fascinating game in the world. But it is not a game for the stupid, the mentally lazy, the person of inferior emotional balance, or the get-rich-quick adventurer. They will die poor.” – Jesse Livermore
BYBIT:BTCUSD.P
by The_Alchemist_Trader_
5
VeChain Parabola Resistance |2.618 Fib Target|Increasing VolumeEvening Traders, Todays Analysis – VeChain- trading above its macro double top resistance, the next logical target, daily resistance. Points to consider, - Structural Resistance Breached (Double Top) - 2.618 Fibonacci Target (Daily Resistance Confluence) - Valid Parabola (Strong Bull Impulses) - Increasing Volume (Volume Climax Node, Temporary Top) - Oscillators Over Extended (No Divergences) VeChain has put in a Technical Higher High by taking out its Double Top, confirmation will be on the next candle close. The next probable target is the 2.618 Fibonacci Extension, which is in confluence with the Daily Resistance. VeChains trend has multiple bull impulses, a clear sign of being in a parabola. A volume climax node will indicate a Temporary Top being set, likely to happen at Technical Targets. Oscilators are over extended but with no valid divergence, further development will give us a directional bias. Overall, in my opinion, VeChain is likely to test at least the 2.618 Fibonacci Extension, a volume climax node will indicate a temporary top. What are your thoughts? Please leave a like and comment, And remember, “You become fearful the moment you identify with fear. But once you begin seeing it as an impersonal changing phenomenon, you become free.” ― Yvan Byeajee
Long
by The_Alchemist_Trader_
8
GBPUSD Bullish Div|Swing Low Failure|Structural ResistanceEvening Traders, Today’s Analysis – GBPUSD – making an impulse move back into structure with a valid bullish divergence playing out, price is likely to put in a retest. Points to consider, - Swing Low Failure - 200 MA Resistance - Support Retest (S/R Flip) - RSI above 50 - Stochastics projected up Price put in a swing low failure which was backed by bull volume allowing GBPUSD to break back into structure. The 200 MA is immediate resistance that price needs to break in order to test structural resistance. A retrace back to structural support will establish an S/R flip that will further solidify the level. The RSI is breaking above 50, showing strength in the market, it also has a technical swing low failure. Stochastics currently is also showing strong momentum, immediate projection is up. Overall, in my opinion, price needs to retest structural support to solidify the level. A long trade will be valid here with defined risk. What are your thoughts? Please leave a like and comment, And remember, “Sheer will and determination is no substitute for something that actually works.” – Jason Klatt
Long
by The_Alchemist_Trader_
VET Abnormal Volume|Structural Resistance|Important Weekly CloseEvening Traders, Today’s Analysis – VETUSDT – Trading at a high time frame structure where a pivot in the trend is highly probable. Points to consider, - Structural Resistance Cluster - Abnormal Bull Volume - Important Weekly Close - Stochastics Momentum Up VETUSDT is trading at an important resistance cluster where a weekly candle close in the zone will be very bullish. The last time an established weekly close in this zone was during early November 2019. The volume has been increasing abnormally which is usually a sign of a volatile move being imminent. Price action itself is showing strength at high time frame resistance, the probability of a break will increase the longer price trades here. The Stochastics is showing strong momentum on the weekly, not officially overextended which is an indication that VETUSDT still has further upside fuel. Overall, in my opinion, VETUSDT has a very clear level to close above. Holding structural resistance will be very bullish, price action will help with the directional bias the longer VETUSDT trades here. What are your thoughts? Please leave a like and comment, And remember, “The expectation that you bring with you in trading is often the greatest obstacle you will encounter.” ― Yvan Byeajee
Long
by The_Alchemist_Trader_
AUDUSD Oversold Bounce| Trading Range| Technical Divergence Evening Traders, Today’s Analysis – AUDUSD – recovering from weekly oversold conditions, trading in an important range where further price development will allow for a directional bias. Points to consider, - Weekly Trading Range - 21 MA Breached - Technical Bearish Divergence - Oversold Bounce - Extended Stochastics AUDUSD has entered its macro weekly range from oversold conditions, where it is likely to consolidate and test the range median before another impulse move. The 21 Moving Average has been breached, the indicator can now act as a visual support guide upon a back test. AUDUSD has a technical bearish divergence at the range high; this is a sign of weakness in the current market. The oscillators are putting in higher highs whilst the price is establishing a lower high. The Stochastics is currently overextended; a retest of at least the range median will cool of oscillators. Overall, in my opinion, AUDUSD is likely to retrace and trade within the range before its next impulse move. The immediate direction is short due to trading at the range high. Further consolidation will help with the directions bias. What are your thoughts? Please leave a like and comment, And remember, “Intelligence is the ability to observe yourself without judging yourself. In essence, this is mindfulness.” Mindfulness” ― Yvan Byeajee
Short
by The_Alchemist_Trader_
2
RLCBTC Weekly Falling Wedge|Local Resistance|Technical Target Evening Traders, Today’s Analysis – RLCBTC – breaking out of its falling wedge , it needs to establish a weekly candle close above resistance for further continuation. Points to consider, - Local Resistance (Key level) - 21 MA (Visual support) - Technical Target Confluence - Stochastics Buy Cross - RSI Breaking 50 - Increasing Volume RLCBTC needs to close this weekly candle above local resistance, this will allow for the smaller time frames to back test the level (S/R flip retest) for a long entry. The 21 MA will act as a visual guide; price trading above this indicator will be very bullish . The target for the falling wedge is in confluence with structural resistance – discretion needs to be used here for when taking profits. Stochastics has a valid buy cross, indication of momentum shifting on the macro time frame. The RSI is attempting to cross above 50, trading beyond this level will indicate increasing strength in the market. Volume is noticeably increasing, this must sustain on the weekly time frame from continued follow through. Overall, in my opinion, RLCBTC next most important move is closing above local resistance on the weekly. This will validate a true break of the falling wedge and allow for a risk defined entry. What are your thoughts? Please leave a like and comment, And remember, “There is no single market secret to discover, no single correct way to trade the markets. Those seeking the one true answer to the markets haven’t even gotten as far as asking the right question, let alone getting the right answer.” – Jack Schwager
Long
by The_Alchemist_Trader_
2
CADCHF S/R Flip Retest| Structural Resistance| Long Trade Setup Evening Traders, Today’s analysis – CADCHF –broke local resistance from oversold conditions; next technical target is at structural resistance. Points to consider, - S/R Flip retest - Structural resistance (trade location) - RSI above 50 - Stochastics in an rising wedge CADCHF needs to put in an S/R flip retest to validate support, this retest will allow for a long entry with defined risk. The immediate target is structural resistance; a back test of this trade location is likely due to the initial impulse move down. The RSI is above 50 after recovering from oversold conditions whilst the stochastics is in a valid rising wedge formation. A breakdown is likely which will coincide with the S/R flip retest. Overall, in my opinion, CADCHF will likely put in a retest at local support allowing for a long entry. Risk will be defined by the recent swing low. What are your thoughts? Please leave a like and comment, And remember, “If you can learn to create a state of mind that is not affected by the market’s behaviour, the struggle will cease to exist.” – Mark Douglas
Long
by The_Alchemist_Trader_
BTCUSD | Bull Trap| Resistance Cluster| Apex| Low Volume Evening Traders, Toady’s Analysis – BTCUSD – establishing a bull trap, now trading back into its apex where a breakout is probable Points to consider, - Strong resistance cluster (Bull trap) - Support and resistances converging (Apex) - RSI and Stochastics showing weakness - Volume declining BTCUSD has had a sharp sell off at resistance cluster, trapping long buyers. The significance of this resistance cluster has now been solidified three times. The local support and resistance are converging; a price break in either direction will be imminent. The RSI and stochastics are both below 50, showing immediate weakness in the market. Volume is clearly declining, indication of an influx being imminent, this will coincide with the possible breakout. Overall, in my opinion, a break in either direction is imminent; the probability down is greater due to the recent impulse sell. The break needs to be backed with increasing volume to avoid any fake outs. What are your thoughts? Please leave a like and comment, And remember, “People normally describe this kind of internal mental shift as an “ah, ha” experience, or the moment when the light goes on. Everyone has had these kinds of experiences, and there are some common qualities associated with them. First, we usually feel different. The world even seems different, as if it had suddenly changed. Typically, we might say at the moment of the breakthrough something like, “Why didn’t you tell me this before?” or, “It was right in front of me the whole time, but I just didn’t see it” ― Mark Douglas
BITSTAMP:BTCUSDShort
by The_Alchemist_Trader_
7
SILVER Respecting Fibonacci Extension|Range Trading|Macro LevelsEvening Traders, Today’s Analysis – SILVER – an impulse move back into its range from oversold conditions, breaking resistance will likely test the 2.618 Fibonacci Extension. Points to consider, - Range trading between macro levels - Fibonacci Extension levels being respected - Major structural resistance level to breach - RSI in overbought SILVER is back in its long term range while respecting its Fibonacci Extension levels. The oversold bounce lead to its impulse move into structure, now testing the 1.618 Extension Major yearly structural resistance needs to be breached; this will increase the probability of testing the 2.618 Extension. It will likely be an impulse break due to the nature of the resistance. The RSI is currently in overbought conditions, a price retracement from current Fibonacci Extension will cool it off. Overall, in my opinion, SILVER will likely reject from structural resistance and consolidate in its range. However a break and close above resistance will make the next immediate target the 2.618 Fibonacci Extension. What are your thoughts? Please leave a like and comment, And remember, “There are no guarantees in trading. The sooner you accept that you sooner you can release your expectations and focus unconditionally on a proven process.” ― Yvan Byeajee
TVC:SILVER
by The_Alchemist_Trader_
5
Bearish Divergence| S/R Flip Retest| Long Structural Support Evening Traders, Today’s Analysis – NZDJPY – breaking a key level where an S/R flip will confirm structural support. Points to consider, - Impulse bull move (breaking key level) - Bearish Divergence evident (allowing for a retest) - Structural Resistance (immediate target) - RSI putting in lower highs - Stochastics sell cross NZDJPY broke resistance with an impulse move, currently trading at its range median with a valid bearish divergence. A retest of structural support well let the bearish divergence play out – will also confirm the S/R flip retest. The RSI is putting in lower highs whilst the stochastics is projecting a sell cross – putting more emphasis on the bearish divergence. Overall, in my opinion, NZDJPY is likely to confirm support with a retest. A long trade will be valid with defined risk below structure. What are your thoughts? Please leave a like and comment, And remember, “In order to succeed, you first have to be willing to experience failure.” ― Yvan Byeajee
Long
by The_Alchemist_Trader_
6
CRLBF S/R Flip|Structural Support|Trend Change|Bull Volume NodesEvening Traders, Today’s Analysis – CRLBF – showing signs of a confirmed trend change, holding structural support will establish another higher low. Points to consider, - S/R Flip at structural level - Structural resistance (Immediate target) - RSI Cooling off - Stochastic in upper regions - 21 Moving Average (Visual guide) - Increasing bull volume nodes The trend change on CRLBF has been confirmed with establishing its first higher low. Now trading above structural support, consolidation above this level will further solidify the S/R flip. The 21 Moving Average can be utilized as a visual guide as CRLBF has been respecting it in the immediate up trend. Current increasing bull volume nodes is a healthy sign for the trend change, must sustain with establishing another higher low. The RSI is cooling off from oversold conditions, a retracement to the 50 level is probable if price starts to consolidate above support. Stochastics on the other hand is in the upper regions, can remain trading here for an extended period of time with stored momentum. Overall, in my opinion, CRLBF is in the midst of a trend change. Holding structural support is critical for a new higher low. A long trade is valid with defined risk below structural support. What are your thoughts? Please leave a like and comment, And remember, “A probabilistic mind-set pertaining to trading consists of five fundamental truths. 1. Anything can happen. 2. You don’t need to know what is going to happen next in order to make money. 3. There is a random distribution between wins and losses for any given set of variables that define an edge. 4. An edge is nothing more than an indication of a higher probability of one thing happening over another. 5. Every moment in the market is unique.” ― Mark Douglas
OTC:CRLBFLong
by The_Alchemist_Trader_
9
GPBJPY Bearish Divergence| Resistance Confluence| .618 FibonacciEvening Traders, Today’s Analysis – GBPJPY – trading at a key Fibonacci Retracement with local resistance confluence, a short trade here is plausible. Points to consider, - .618 Fibonacci - Trend line support - RSI bearish divergence - Stochastics neutral - Bull volume climax GBPJPY is at a key trade location with resistance coming from market structure and the .618 Fibonacci. A short trade is valid with the immediate target being the trend line support. Risk defined will be above the recent swing high. The RSI has a valid bearish divergence, a sign that the local trend is weak. The Stochastics on the other hand is neutral – momentum stored in both directions. A bull volume climax node is evident; this is an indication of GPBJPY topping out at structure. The temporary top maybe in if price starts to retrace. Overall, in my opinion, GBPJPY is likely to correct from this structural level validating a short trade. A clear break above the .618 Fibonacci will NEGATE this trade setup. What are your thoughts? Please leave a like and comment, And remember, “There are no guarantees in trading. The sooner you accept that you sooner you can release your expectations and focus unconditionally on a proven process.” ― Yvan Byeajee
Short
by The_Alchemist_Trader_
1
BTCUSD Falling Wedge Breakout|Local Resistance|Declining VolumeEvening Traders, Today’s Analysis – BTCUSD – forming a falling wedge pattern that is YET to be confirmed. A break of resistance needs to come to fruition before a long trade. Points to consider, - Bullish falling wedge - Apex approaching - Demand Zone (Strong support cluster) - RSI below 50 - Stochastics projecting higher lows - Volume Declining The local trend is in a falling wedge formation that will break in either direction as the immediate support and resistance converge. The formation is bullish so the probability of breaking up is higher. BTC has a strong demand zone, a historic cluster where price is likely to wick down if the wedge breaks bearish. The RSI is currently below 50; bias is still bearish in the market, however the stochastics is projecting higher lows. Initial indication of momentum shifting in the shorter term The volume is clearly declining; indication of an influx being imminent which further solidifies that BTCUSD is in a true pattern. Overall, in my opinion, a break will occur, leading to a trade opportunity. A break bullish needs to be back with increasing volume. The technical target of the falling wedge is in confluence with the current local resistance. What are your thoughts? Please leave a like and comment, “There is no single market secret to discover, no single correct way to trade the markets. Those seeking the one true answer to the markets haven’t even gotten as far as asking the right question, let alone getting the right answer.” – Jack Schwager
BYBIT:BTCUSD.PLong
by The_Alchemist_Trader_
9
XTZUSDT Macro Levels| Declining Volume|.618 Fibonacci ResistanceEvening Traders, Today’s Technical Analysis – XTZUSDT – a break out is imminent as volume continues to decline; key structural levels are likely to be tested. Points to consider, - Trend bullish (consecutive higher lows) - Trend line support holding true - Current resistance .618 Fibonacci - RSI above 50 - Stochastics projecting down - Declining volume XTZUSDT’s trend has been putting in consecutive higher lows, now trading in a range between two important levels, monthly resistance and daily support. The current trend line support is holding true, a higher low projection will be at play until the trend line has been breached. Immediate resistance, the .618 Fibonacci is to be breached for a test of monthly resistance; price has been rejected multiple times. The RSI breaking below 50 will negate any bullish bias in the market. The stochastics are projecting down, this a sign of momentum shifting. XTZUSDT’s volume is clearly declining, an indication of an influx in volume being imminent as key structural levels get tested. Overall, in my opinion, XTZUSDT is approaching a key technical level where a break will be imminent. A long trade will be valid above monthly resistance. Breaking below daily support will validate a short trade. The break needs to be backed with increasing volume; this will help avoid fake outs. What are your thoughts? Please leave a like and comment, And remember, “This lack of support is not simply an absence of encouragement. It can be as deep as the outright denial of some particular way in which we want to express ourselves.” ― Mark Douglas
by The_Alchemist_Trader_