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Stochastic Oscillator

EURUSD Double Top Resistance|Local Support|Bearish Retest(Short)Today’s Technical Analysis – EURUSD – testing local support, a bearish retest will allow of a short entry. Points to consider, - Double top resistance (bearish formation) - Local support confluence - RSI below 50 - Stochastics buy cross - Volume below average The double top resistance was established with an impulse sell off into local support, which is the current trade location. The local support has multiple confluences; a bounce into the range median is probable for a bearish retest. A confirmed bearish retest will allow for a short entry with defined risk The RSI is below 50, showing weakness in the market as momentum shifts to the downside. Stochastics on the other hand is signalling a buy cross; an immediate bounce from local support is probable. Volume is currently below average where an initial influx is likely as this is a key trade location. Overall, in my opinion, if EURUSD establishes a bearish retest with declining volume, the probability of an impulse down is likely. Price action will be important to monitor for a directional bias What are your thoughts? Please leave a like and comment, And remember, “It is always the best discretion to let the market show us where it is going and just simply follow (this would be prudent), rather than predict where the market is going and place a position (this would be gambling).” -Anne-Marie Baiynd
Short
by The_Alchemist_Trader_
GBPNZD Structural Support| Stochs Cross| Range| Bearish Retest Today’s Technical Analysis – GBPNZD – respected structural support, a bearish retest of resistance is likely. Points to consider, - Structural support confluence - Resistance range - RSI cooling of f - Stochastics buy cross - Volume below average GBPNZD is in a defined downtrend with consecutive lower highs. The structural support is in confluence with the 1.414 Fibonacci Extension, price has bounced of this area. Structural resistance is the initial target of this range; a bearish retest will put in another lower high. The RSI is cooling off from oversold conditions whilst the stochastics has a valid buy cross, momentum is shifted up. Volume is currently below average, an influx is likely as price trades closer to structural resistance. Overall, in my opinion, GBPNZD has respected support; a bearish retest of structural resistance will establish another lower high. It is important to monitor how price action forms as this will help with the directional bias. What are your thoughts? Please follow me on twitter for live updates!, link in bio :) And remember, “However, market analysis is not the path to consistent results. It will not solve the trading problems created by lack of confidence, lack of discipline, or improper focus.” ― Mark Douglas
Long
by The_Alchemist_Trader_
2
BTCUSD Breakout Trade|Watch Price Action| Apex| Low Volume Evening Traders, Today’s Technical Analysis – BTCUSD – a breakout is imminent as support and resistances converge. Points to consider, - $10,000 Psychological Resistance - Up sloping support - Declining volume (Apex) - Range Median - RSI above 50 - Stochastics equilibrium BTCUSD’s current price is above its range median, .50, currently trading under the all important $10,000 Psychological resistance. BTCUSD is respecting its up sloping support; price is being pushed into its apex where a break will occur. The RSI is above 50, indication of a bullish bias in the market, however NOT confirmed, we need further development. Stochastics is coiling in equilibrium; momentum for the break is stored in both directions. BTCUSD volume nodes are declining, an indication of an influx being imminent, this will be more likely when price breaks either key technical level, the $10,000 Psychological resistance and or up sloping support. Overall, in my opinion, BTCUSD will have a break in the coming hours; a trade will be validated upon the direction of the break. It is important to monitor price action and volume leading up to the break as this will help avoid fake outs. What are your thoughts? Join me on twitter for live market updates! And remember, “Remember our definition of a winning attitude: a positive expectation of your efforts with an acceptance that whatever results you get are a perfect reflection of your level of development and what you need to learn to do better.” ― Mark Douglas
BYBIT:BTCUSD.P
by The_Alchemist_Trader_
USDCHF Equilibrium| Structural Resistance| Declining Volume Today’s Technical Analysis – USDCHF- trading in equilibrium where a break is imminent Points to consider, - Structural resistance (bearish retest) - Declining volume - Apex - RSI at 50 A break in USDCHF will be imminent as price continues to reach its apex. The support and resistance lines will converge leading into a break in structure. The structural resistance is a key level, a bearish retest will allow for a valid short. It is important to monitor how price action forms at the level as weakness will indicate a possible liquidity grab. Volume is clearly declining, which is an indication of a true equilibrium. A breakout needs to be backed with increasing volume; this will decrease the probability of a false breakout. Overall, in my opinion, if USDCHF breaks bullish, its immediate target will be structural resistance. If price action shows weakness and confirms a bearish retest, lower level will then be likely. What are your thoughts? Please leave a like and comment, And remember, “Do not anticipate and move without market confirmation—being a little late in your trade is your insurance that you are right or wrong.” -Jesse Livermore
Short
by The_Alchemist_Trader_
2
LINKBTC Uptrend| Structural Support| 200 MA Pivot Today’s Technical Analysis – LINKBTC - trading in a clear long term uptrend putting in consecutive higher lows. Points to consider, - 200 MA support confluence - Double top resistance - Structural support (trade location) - Stochastics projected own LINKBTC has been respecting the 200 MA where a retest usually ends with an impulse move up. Structural support is in confluence, solidifying a trade location, price is likely to pivot at this region. The double top resistance is a visual target if support is respected, break above this will lead into a blue sky breakout. Stochastics is currently projected down; the RSI is not officially oversold, indicating further downside momentum likely. Overall, in my opinion, a valid long entry at structural support is a decent trade idea with clear risk mitigation. Invalidation will be below the recent swing low under structural support What are your thoughts? Please leave a like and comment, And remember, “It’s not whether you’re right or wrong that’s important, but how much money you make when you’re right and how much you lose when you‘re wrong.” -George Soros
Long
by The_Alchemist_Trader_
EURUSD ShortJust caught a really good trend. Price rejected the resistance at 1.08859 and started to put down heavily. The bears took the charge big time. RSI and Stochastic were in heavily bought territory. MACD crossed over and i enered. I got in this one at around 1.08742 with SL at 1.09000 (placed after the recent high as i didn't think it would reach that high again). TP at 1.08228. We took a really nice 50 pips in this one in the space of just under 3 and a half hours. Looking to pick up another trade (long) as i think we will see a rejection of the support at 1.08192.
Short
by Ethan_FX
BNBUSDT Resistance Confluence| Demand Zone| Bearish Retest Evening Traders, Today’s Technical Analysis – BNBUSDT – wedge formation has broken bearish, testing local support (demand zone), which has led to buy backs. Points to consider, - Resistance Confluence - Bearish retest - Local Support (Demand Zone) - Stochastic lower highs - RSI below 50 Long candle wicks confirm buy pressure coming in at local support, BNB is currently putting in a bearish retest at structural resistance, confirmation will likely revisit local support, this will then further solidify a macro lower high. A break of structural resistance on the other hand will increase the probability of taking out the current high, continuing the trend. The RSI is currently neutral, not officially oversold whilst the stochastics is projecting lower highs, indicating potential further downside. Overall, in my opinion, BNBUSDT has two clear levels to breach, structural resistance and or local support. These are key levels to pay attention to when developing a directional bias. What are your thoughts? Please leave a like and comment, And remember, “There is only one side of the market and it is not the bull side or the bear side, but the right side.” –Jesse Livermore
by The_Alchemist_Trader_
EURUSD LongMy trade yesterday looks to have gone to plan. I got in just after the highest high as illustrated on the chart. As you can see both Stochastic and RSI proved that the market was being over bought. This points to a sell. The resistance at 1.08505 was passed with flying colours but volatility soon started to fade. Then MACD crossed over which pinpointed my entry point. It is looking as if things are going to go from overbought to oversold pretty quickly. I am looking to get a long position when the same circumstances appear but being oversold not overbought (obviously).
Long
by Ethan_FX
LINKUSDT Watch Price Action | Range Median| Local Support Evening Traders, Today’s Analysis – LINKUSDT – clear break out failure, trading back into its range most likely to form an equilibrium, how price action forms will dictate the next probable move Points to consider, - Overthrow failure - Demand zone respected - PA Consolidation - Range trading (local support and range median) - Volume climax Price recently had an impulse move down confirming a break out failure at a key level. Sell pressure pushed price into demand zone where the bulls showed up, subsequent oversold bounce. The current trading range is between Local support and range median, key trade locations upon a break. Price action will be important to monitor at these levels subsequently with the RSI and Stochastics, which are quite neutral at current given time, needs more development. Volume climax evident, indication of seller exhaustion as price balances supply and demand Overall in my opinion, LINKUST may forma equilibrium before its next impulse move, the way price action forms at key levels will determine a directional bias. What are your thoughts? Please leave a like and comment, And remember, “You create your own game in your mind based on your beliefs, intents, perception and rules.” ― Mark Douglas
by The_Alchemist_Trader_
4
LTCUSDT the Sleeping Giant | Resistance Confluence| Weekly RangeEvening Traders, Recent developments on LTCUSDT have not been much, lagging behind the broader market in general. From a technical stand point it needs to break above the weekly resistance zone for an impulse move. Points to consider, - Immediate trend bullish - Resistance multiple confluences - RSI above 50 - Stochastics buy cross (larger time frame) - Volume influx likely LTCUSDT’s trend is respecting its local support establishing higher lows into the weekly range, the next trade location. Current resistance has multiple confluences, the .382 Fibonacci and structural horizontal needs to be breached decisively to enter the weekly range The RSI is above 50 whilst the stochastics has recently established a buy signal, both clear on the higher time frame. This can be an indication that momentum is shifting Volume influxes are probable in the weekly resistance zone, historically has been the case. A break above weekly resistance will be the long confirmation as LTCUSDT has been lagging against the market. 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
Long
by The_Alchemist_Trader_
4
XTZBTC Long Term Trend Line| Structural Support| Stoch Cross Evening Trader’s, Today’s Technical Analysis – XTZBTC- bouncing off from its trend line, an area of significance for the overall market structure Points to consider, - Macro trend line holding - Structural support confluence - Resistance test sell off - RSI below 50 - Stochastics buy cross - Volume below average XTZBTC is respecting its macro trend line with an initial bounce that needs follow through. This area must hold as it is in confluence with structural support, a break will negate market structure. The resistance test lead to an impulsive sell off, a correction to local resistance is highly probable The RSI is below 50, not officially oversold whilst the stochastics has a buy cross at lower levels, indication of momentum shifting. Volume has been below average for a while; a bull influx at a key technical level will show strength in price action. This is important as failure can run the risk of negating the whole market structure. Overall, in my opinion, XTZBTC has a high probability of testing local resistance. A break above will confirm the respect of the longer term trend. What are your thoughts? Please leave a like and comment, And remember, “Trading mastery is a state of complete acceptance of probability, not a state of fight it.” ― Yvan Byeajee
Long
by The_Alchemist_Trader_
4
TRXUSDT Local Support| Hidden bullish Div| Volume Climax Evening Traders Today’s Technical Analysis – TRXUSDT – trading in a small range with defined levels to breach for either a bull or bearish scenario. Points to consider, - Bullish trend (higher lows) - Structural resistance (triple top) - Local support holding (wicks) - RSI possible divergence (Further confirmation needed) - Stochastics momentum down - Volume climax evident The local trend is bullish with consecutive higher lows but it is now important to note that a triple top may be in if structural resistance does not get breached. Local support is holding true as a current trade location; multiple wicks suggest buy pressure coming in. Also another important observation is that these wicks are in a higher low fashion. The RSI has a probable hidden bullish divergence, putting in lower lows as price puts in higher lows. Confirmation will be on the next confluence touch at local support. The stochastics momentum is stored down, currently at 50, there is room for further downside as price retraces. Volume climax is evident, indicating that a temporary top is in; this will obviously be negated with a breach of structural resistance. Overall, in my opinion, TRXUSDT needs to come for a retest of local support; this is where the hidden bullish divergence will be confirmed and or negated. What are your thoughts? Please leave a like and comment, And remember, “Fear, inherently, is not meant to limit you. Fear is the brain’s way of saying that there is something important for you to overcome.” ― Yvan Byeajee
by The_Alchemist_Trader_
3
COTIBTC Bullish Divergence| Local Resistance| Low VolumeEvening Trader’s Today’s Technical Analysis – COTIBTC – trading at local support, a break of the 21 MA will further confirm a rally in to local resistance. Points to consider, - Local support holding - Valid bullish divergence - 21 MA current resistance - RSI below 50 - Stochastics projected up - Volume below average COTIBTC is trading at local support forming a valid bullish divergence where an impulse move into local resistance is probable. The 21 MA needs to break, current resistance, this will confirm further upside in the immediate term. RSI is clearly diverging from price; break of its 50 level will change the immediate bias to bullish. The Stochastics currently has stored momentum to the upside, currently no valid sell cross. Volume is below average, an impulse is probable as this is a trade location. Overall, in my opinion, COTIBTC needs further confirmation by breaking the 21 MA before a probable impulse move into local resistance as volume is below average. What are your thoughts? Please leave a like and comment, And remember, “The key to trading success is emotional discipline. If intelligence were the key, there would be a lot more people making money trading… I know this will sound like a cliche, but the single most important reason that people lose money in the financial markets is that they don’t cut their losses short.” – Victor Spreandeo
by The_Alchemist_Trader_
NZDUSD Oversold bounce| Structural support| Long liquidity Evening Traders, Today’s technical analysis – NZDUSD – recovering from an oversold bounce closing back into key structure where a test of local resistance is likely Points to consider, - Trend bearish (lower highs) - Oversold bounce - Local resistance confluence - RSI at 50 - Stochastics valid sell cross - Volume climax evident Consecutive lower highs for NZDUSD, breaking key structure for what looks like a valid long liquidity hunt. The oversold bounce broke back into structural support; price has been consolidating above this technical level where a retest is likely. Local resistance itself has multiple confluences, the.618 Fibonacci and the 200 MA will converge as price trades closer. The RSI is currently at 50, travelling in a wedge where a break will be imminent. Stochastics on the other hand has a valid divergence from price, an indication that momentum is stored to the downside. A volume climax node is evident, bear volume had little follow through as bulls maintain price above structural support. Overall, in my opinion, NZDUSD is likely to retest structural support due to bearish oscillators. An impulse move into local resistance is probable if support holds true. What are your thoughts? Please leave a like and comment, And remember, “All statistics have outliers. Money management, therefore, is key to the process of good trading.” ― Yvan Byeajee
Long
by The_Alchemist_Trader_
2
SPX Rising Wedge|Stochastics bearish Div|.618 Fib Resistance Evening Traders, Today’s technical analysis – S&P 500 lndex – breaking out if its rising wedge structure, respecting strong upper resistance, it is likely to establish a macro lower high. Points to consider, - Bearish trend structure - .618 Fibonacci Resistance - Local Support retest - RSI testing 50 - Stochastics bearish divergence SPX Index is in bear trend with this macro lower high likely to be set due to the break of the rising wedge. The .618 Fibonacci is current resistance, travelling below it is considered to be a bear market, a break above and consolidation will negate this narrative as this will also take out the 200 MA. Local support is likely to be tested as this is the next structural trade location, bulls need to defend this level. The RSI is likely to break 50, where trading below will increase the probability of a bearish bias. Stochastics on the other hand is clearly showing a valid bearish divergence, indicating momentum shifting bearish. Overall, in my opinion, SPX is due for a correction, breaking this rising wedge increases the probability of putting in a lower high. The trend is still developing, but these are early signs of momentum running out for the bulls. What are your thoughts? Please leave a like and comment, And remember, “A peak performance trader is totally committed to being the best and doing whatever it takes to be the best. He feels totally responsible for whatever happens and thus can learn from mistakes. These people typically have a working business plan for trading because they treat trading as a business.” - Van K. Tharp
TVC:SPXShort
by The_Alchemist_Trader_
Macro Broadening Wedge Pattern| MA Support| Declining Volume Evening Trader’s What a historic day in Bitcoins price – assessing the situation, Bitcoin is trading in a probable broadening wedge pattern on the weekly timeframe. Points to consider, - Immediate trend parabolic - Resistance line tested - Moving Average support - RSI crossed 50 - Stochastics projected up - Volume tapering of BTC has had an insane pump from the low, consecutive weekly green candle closes breaking all structural resistances and cleaning up the CME gap. Current resistance being a staunched one was tapped, further solidifying its importance. The Moving Average, 21, visually coming in as support which can hold true for the time being. RSI has crossed 50, historically this indicates and uptrend on the weekly whilst this stochastics is projecting up, momentum is shifting. The bull volume nodes are declining with an evident volume climax on the lower timeframes, suggesting temporary top being in. Overall, in my opinion, BTCUSDT is due for a correction after this significant rise. The wick represents profit taking, BTCUSDT is not officially out of the woods until we break this pattern. 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,
by The_Alchemist_Trader_
10
CGC New Range| Structural Support/Resistance| S/R Flip Evening Traders, Today’s Technical Analysis – CGC - impulse move into resistance where CGC is likely to range trade. Points to consider, - Macro trend bearish - Resistance confluence - S/R Flip retest - RSI above 50 - Volume climax CGC’s macro trend has been putting in consecutive lower highs with a recent sell of ending with an oversold bounce. Currently testing structural resistance which is in confluence with the 200 MA, a rejection is probable. This will likely lead to a retest of support, confirming the S/R Flip RSI is above 50, cooling off from oversold conditions whilst the stochastics is trading in the upper regions with a sell cross coming to fruition. Volume climax is evident, indicating temporary bottom may be in as CGC finds its equilibrium Overall, in my opinion, CGC is likely to trade in this range before another impulse move. CGC’s general immediate trend can be determined by the break of either of the key support and or resistance level. 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
C
by The_Alchemist_Trader_
4
USDCHF Symmetrical Triangle|Low Volume|Apex|Breakout Imminent Evening Traders, Today’s Technical Analysis – USDCHF- a clear symmetrical triangle at pay, price is approaching its apex before an imminent break. Points to consider, - Trend Bullish (Consecutive higher lows) - Support and Resistances converging - RSI neutral (Above 50) - Stochastics in upper regions - Volume declining The immediate trend is bullish with consecutive lower highs from local bottom. Price is finding its equilibrium in this larger symmetrical triangle as support and resistance converge. The RSI is neutral above 50 whilst the stochastics is in the upper regions, an indication of buy momentum still being present. Volume is clearly declining as price is reaching its apex of the symmetrical triangle; this is an indication of an influx in volume. Overall, in my opinion, a breakout is imminent, very tradeable, price is coming close to its apex as support and resistance converge. What are your thoughts? Telegram Link in Bio – Please Join :) 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
by The_Alchemist_Trader_
XTZBTC Fractal| .618 Fibonacci| Trend Line| Volume Profile Evening Traders, Today’s Analysis – XTZBTC – a highly probable fractal at play, the .618 Fibonacci coinciding with the overall trend line perfectly. Points to consider, - Trend Bullish - Impulse move from .618 Fibonacci - RSI neutral - Stochastics in upper regions - Similar volume profile XTZ’s trend is bullish with consecutive established higher highs, respecting the trend line to a T. The .618 Fibonacci has held true twice with confluence from the trend line, leading to two impulse moves. RSI is currently neutral, similar to the previous test of the trend; this goes the same with the stochastics, trading in the upper regions (momentum is up). The volume profile looks similar in shape, a declining and tapering off as price magnets to the trend line. Overall, in my opinion, this is a highly probable fractal at play with a retest of the trend line being the confirmation. It is an easy manageable trade where invalidation will come quickly, that is when the trend line breaks. What are your thoughts? Please leave a like and comment, And remember, “People who look for easy money invariable pay for the privilege of proving conclusively that it cannot be found on this earth.” - Jesse Livermore
Long
by The_Alchemist_Trader_
4
BTCUSDT Head and Shoulders|Volume Climax|Neck Line Retest Entry Evening Traders, Today’s technical analysis – BTCUSDT – breaking its heads and shoulders pattern with a technical target situated at around $6100. Points to consider, - Trend Bearish (Neckline breached) - Rising Wedge broke with a retest - Structural support holding true - RSI below 50 (Not officially oversold) - Stochastics below 50 (Sell pressure evident) - Volume climax node evident BTCUSDT has broken its neckline with conviction confirming the head and shoulders pattern, a retest is likely for a short entry. The macro rising wedge support line broke with a bearish retest, putting in BTC’s right shoulder and continuing the overall lower high projection. Structural support is currently holding true, a retracement back to the neckline is probable which is in confluence with the .382 Fibonacci. The RSI is below 50 but not oversold, recovery is probable as price is testing a key support. The stochastics on the other hand is also below 50. Sell pressure is still evident and there is momentum stored to the downside. An evident volume climax node has been printed, sign that a temporary bottom may be in, price is trying to find its equilibrium before another probable impulse move. Overall, in my opinion, the macro trend is bearish; BTC just broke out of a bearish pattern, the head and shoulders. Retest and confirmation of the neckline is on the cards which will allow for a short entry. What are your thoughts? Please leave a like and comment, And remember, “If I hadn’t made money some of the time I might have acquired market wisdom quicker.” Jesse Livermore
Short
by The_Alchemist_Trader_
3