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Stochstics

More downside for XPTUSD (Platinum)XTPUSD has been rallying ever since it broke out of its two week sell off a couple days ago but there are now signs showing that the upward momentum could be coming to a end. Technical : The 3 EMA is crossing over the 10 EMA to the downside while at the same time the Stochastic is crossing the 50% mark to the downside as well. These Bearish confluences are happening while we are nearing the bottom Trendline, making a breakdown higher probability. Target a 1-1.5% move down from your entry/break
EIGHTCAP:XPTUSDShort
by Iateyourcroissant
A Renko Trading Strategy with Multiple Indicators (update 1)This will serve as an update to the previous discussion specifically to some of the chart settings and the approach. Going into the open on 25-March-2024, I was looking for price to move lower to test the monthly and yearly Camarilla R3. My reasoning was that neither seemed to have been tested yet and that these two together would provide a good level for support. My long term view on crude oil is bullish and I believed this type of action would provide a good entry point. However, this plan did not come through so I stood aside to let the market playout to determine another entry strategy. While watching the market in the charts I had published earlier, I decided to make some adjustments to see if I would have detected the market’s plan sooner providing an entry point. The following are the changes that I’ve made: Changed the timeframe of the Renko chart from 15 minutes to 1 minute. Without paying for a higher subscription in TV, 1 minute is as low of a timeframe as you can go with Renko. This alone changed the dynamics of the chart with a different view on the DMI and Stoch. Changed the slower Stoch from 25,3,3 to 50,3,3 (which is a setting I’ve experimented with in the past. The DMI remained the same as did the levels of importance for the ADX of 35 and 20. Added the BPP (Bull Bear Power) indicator and set it to an interval of 50. I’ve not used this indicator before but was experimenting with some items yesterday and found this. I set the line to a step line and you can see the results here. Added a 2-hour candle chart next to the Renko and will use it in conjunction with the Renko chart to make entry/exit decisions. Removed the manual Linear Regression from the Renko chart and have added them to the 2hr chart. This is a more natural fit and have maintained the default settings. I have added two LR indicators with one at 1 STD and one at 2 STD. Removed the manual drawings of the Camarilla pivots and have added them as indicators to the 2hr chart. Removed the volume profile from the Renko chart and have added it to the 2hr chart with a week timeframe. All markup for volume area, opening range, etc. will be put on the 2hr chart and will be for a weekly view. The Renko chart will remain to work for timings of entry and exits. Considering the 1-minute chart, you can see that there was a buy signal across several of the setups. As noted earlier, the consolidation on the 1 minute/25 tick Renko chart provided a signal that a breakout was coming. The slower Stoch set to 50,3,3 provided some insight into the direction with the break of the %k up over the %d and lastly, the new BBP gave an indication that the down move was a correction and that higher prices could be coming. A long wick and breakout of consolidation would have been a trigger to enter a trade of buying a Call option (see green arrow on Renko). Looking at the 2hr candle chart with the 2 linear regressions (1 and 2 STD respectively), then you can see where the support was formed then then where resistance was hit. The monthly and the weekly R4 provided resistance and now support is at the median of the current LR. Because the break of the weekly R3 was with a force with no test, my plan now is to find an entry long (an August Call) along this line which is also the same proximity of the weekly Pivot and the top of the week’s opening range (where the opening range for the week is defined as the first 5 2hr candles of the week. With a red brick in place on the 1 minute/25 tick chart, a green brick now would be a buying opportunity. I’ve added a consolidation channel across levels of what could be support for any pullback and could see another 25-tick brick in place before the green brick to the upside.
NYMEX:CL1!Education
by mxb1961
PacWest - Bollinger Bands breakouton 5 min time frame, using indicator BB with RSI, entry taken as per Divergence, movement confirmation with Stoch RSI, Heikin-Ashi, Gap up opening confirmed reversal to the price calculated earlier on weekend for price to open @ $5.50 wherein pre market showed jump in price due to dividend cut decision by bank to -96%, total duration of trade is around 1 hr 30 min. Was able to achieve target defined with almost 14% gain. Closed the trade as per candle confirmation (hammer candle formed at the bottom - which gave upward confirmation to closed the trade.
PShort
by Ethical_Bear
GRWG Range High| PA Range| Declining Volume| RSI Extended Evening Traders, Today’s analysis – GRWG – trading towards a technical location where a bounce is probable, Points to consider, - Price Action Corrective - Range High Support - Order Bock Confluence - Declining Volume - RSI Extended GRWG’s immediate price action is trading towards its Range High that has technical confluence with an Order Block, allowing for a bullish bias. The current volume profile is on a decline, an influx is needed for a strong bullish expansion. The RSI is currently extended, a reversion to its mean is and bullish control zone is likely on the bounce. Overall, in my opinion, GRWG is a valid long with defined risk, price action is to be used upon discretion/ management. Hope this analysis helps Thank you for following my work And remember, “Hope is bogus emotion that only costs you money.” – Jim Cramer
NASDAQ:GRWGLong
by The_Alchemist_Trader_
1
BTC - needs to Invalidate the H&S Pattern on the 6d ChartBTC is potentially in a Head and Shoulders Pattern on this 6d chart, and you can also see clearly this on the weekly as well. Ideally, BTC needs to CLOSE this 6d Candle above the Dashed Resistance Line at around $53,148. If not, then the next 6d Candle will suffice. Failure to do so may validate the Right Shoulder and if BTC drops below the H&S Neckline then a potentially much bigger drop can be expected. BTC is still below its Bollinger Bands Middle Band Basis 20 Period SMA on this 6d timeframe. Note that the Upper and Lower Bollinger Bands are moving sideways. Note that BTC is still below its Least Squares Moving Average (LSMA) for this 6d timeframe. Be on the lookout for a 6d Candle CLOSE above the LSMA as that will be a BUY signal for traders who use this indicator on this 6d timeframe. BTC is still above its Volume Profile Fixed Range Point of Control (VPFR POC) for the Fixed Range of 4x 6d Candles that i have selected. We 100% need BTC to CLOSE this 6d Candle above this level. Note that the Volume Profile Visible Range Point of Control (VPVR POC) for this charts Visible Range is at $56,375 so BTC is not that far away from it. We can expect some resistance around this level. Volume is still low on this Bitstamp 6d Chart and note that the last 2x 6d Volume Bars have been below its Volume 20 Period SMA. I have highlighted 2 potentially crucial Support Areas for this 6d timeframe. The first is at $40,879 - $39,511 and the next one is $31,037 - $28,622. Let’s take a look at 3 Momentum Indicators, the STOCH, MACD and the ADX DI and see what each is actually indicating: If we take a look at the Stochastic Indicator (STOCH), The %K Line (Blue Line) is indicating that momentum is upwards at the moment. The %K Line (Blue Line) is still relatively low and has a lot of room to move up before breaking into the Overbought Zone above 80 on this 6d timeframe. Note that at the moment the %K Line (Blue Line) is above its %D Line (Orange Line). If we look at the Moving Average Convergence Divergence (MACD) we can see that the MACD Line (Blue Line) is still under its (Signal Line). We need the MACD Line (Blue Line) to cross back above the Signal Line (Orange Line) as this will be a BUY SIGNAL for this indicator on this 6d timeframe. Not that the MACD Line (Blue Line) is still above the 0.0 Base Line in the Positive Zone. If we look at the Average Directional Index (ADX DI) we can see that Negative Momentum has dropped with the -DI (Red Line) at 21.72 and Positive Momentum has risen with the +DI (Green Line) at 17.55. Note that the trend strength has lost a bit of strength with the ADX (Orange Line) dropping to 21.67 and it is still below its 9 Period EMA (Black Line) which is at 23.61. We need the ADX (Orange Line) to stay above the 20 Threshold (Dashed Black Line) and we need the +DI (Green Line) to cross back above the -DI (Red Line) on this 6d timeframe for any LONGTERM recovery to become sustainable and real. Note that all of these indicators can be used and applied in whatever trading timeframe you are in. So what does all this mean. Simply put…. BTC needs to CLOSE above the Dashed Resistance Line. If you are waiting for full Bullish confirmation on this longterm 6d timeframe, then be on the lookout for when BTC manages to CLOSE a 6d Candle ABOVE the Dashed Resistance Line invalidating the H&S Pattern. After that, we need BTC to break back above and more importantly CLOSE above the Bollinger Bands Middle Band Basis and then the LSMA on this 6d timeframe. Also be on the lookout for any successful re-test of a previous resistance as support. Note that there is always a possibility that if BTC cannot break above and more importantly CLOSE above the Dashed Resistance Line, then it may still invalidate the H&S pattern by ranging sideways within a range for a prolonged period of time. I hope this is helpful with your Trading and Hodl-ing. Notes: LSMA = Black Squiggly Line on chart Bollinger Bands = Yellow Bands on chart VPFR POC = Short Horizontal Red Dotted Line on chart VPVR POC = Long Horizontal Red Dotted Line on chart Support Areas = Black Horizontal Lines with Yellow Shading on chart H&S Pattern = You know where that is ;-)
BITSTAMP:BTCUSD
by TradingThroughTheLens
4
ICPUSDT Rising Channel| Swing High| Price Action| Trend Evening Traders, Today’s analysis – ICUSDT – trading above its local s/r where continuation to the upside is probable, Points to consider, - Price Action Impulsive - Dynamic S/R Support - Swing High Objective - Declining Volume - RSI Neutral ICPUSDT’s immediate price action is impulsive, trading above its dynamic support allowing for a bullish bias. The swing high is the immediate objective, exceeding this level will increase the probability of a trend continuation. The current volume is on a decline, an influx is highly imminent when testing a new trade location. Overall, in my opinion, ICPUSDT is a valid long with defined risk, price action is to be used upon discretion/ management. Hope this analysis helped, Thank you for following my work And remember, Timing, perseverance, and ten years of trying will eventually make you look like an overnight success. – Biz Stone
Long
by The_Alchemist_Trader_
FLOKIWETH Dynamic S/R| Price Action| Trend| Swing High Evening Traders, Today’s analysis – FLOKIWETH – Trading with consecutive higher lows where a trend continuation is probable, Points to consider, - Price Action Trending - Dynamic S/R Support - Swing High Objective - Low Volume FLOKIWETH’s immediate price action is trading with consecutive higher lows, allowing for a bullish bias. The Swing High is the immediate objective, exceeding this level increase the probability of a trend continuation. The current volume profile is below average, an influx is highly imminent when an expansion occurs. Overall, in my opinion, FLOKIWETH is a valid long with defined risk, price action is to be used upon discretion/ management. Hope this analysis helps, Thank you for following my work And remember, “Never let a win go to your head, or a loss to your heart.” – Chuck D.
Long
by The_Alchemist_Trader_
5
XTXUSDT Daily S/R| Swing High| Price Action| Trend Evening Traders, Today’s analysis – XTZUSDT – trading abve a key Daily S/R where a retest is probable, Points to consider, - Price Action Corrective - Daily S/R Support (.618 Fibonacci and VWAP Confluence) - Swing High Objective - Low Volume XTXUSDT’s immediate price action is corrective as allowing for a bullish bias at a trade location. The Daily S/R is in technical confluence with the .618 Fibonacci and it VWAP S/R, allowing for a potential long entry. The current volume is below average, an influx is highly imminent when an expansion occurs. Overall, in my opinion, XTZUSDT is a valid long with defined risk, price action is to be used upon discretion/ management. Hope this analysis helps Thank you for following my work And remember, “The secret to being successful from a trading perspective is to have an indefatigable and an undying and unquenchable thirst for information and knowledge.” - Paul Tudor Jones
Long
by The_Alchemist_Trader_
1
USDCHDF Daily S/R| Price Action| Trend| Trade Evening Traders, Today’s analysis – USDCHF- trading at a key support that is likely to be respected, Points to consider, - Price Action Corrective - Local S/R Support - Swing High Objective - Daily S/R Resistance USDCHF’s immediate price action is sitting on a local support, allowing for a bullish bias. The swing high is the current objective, exceeding this level will increase the probability of testing the daily s/r . Overall, in my opinion, BTCUSD is a valid long with defined risk, price action is to be used upon discretion/ management. Hope this analysis helps, Thank you for following my work And remember, “There is a huge difference between a good trade and good trading.” – Steve Burns
Long
by The_Alchemist_Trader_
ANKRUSDT Internal S/R| Apex| Local S/R Price Action Evening Traders, Today’s analysis – ANKRUSDT- trading towards its apex where a move will be imminent, Points to consider, - Price Action Impulsive - Internal S/R Support - Local S/R Resistance - Declining Volume ANKRUSDT’s immediate price action is impulsive, trading with technical confluence from the VWAP and POC as support, allowing for a long bias. The Local S/R is current resistance, exceeding this level increases the probability of chasing fibs. The volume profile is on a decline, this is suggestive of an impulse being imminent. Overall, in my opinion, ANKRUSDT is a valid long with defined risk, price action is to be used upon discretion/ management. Hope this analysis helps, Thank you for following my work And remember, “Once you find the system that works for your style/personality and confidence is gained, wash, rinse, repeat over and over again.” – Sunrisetrader
Long
by The_Alchemist_Trader_
AKROBTC| Key Levels| .382 Fibonacci| Price Action| EMA Ribbon Evening Traders, Today’s analysis- AKROBTC- trading above a key local S/R with a ribbon bull cross, further upside probable Points to consider, - Price Action Impulsive - Local S/R Support (.382 Fibonacci Confluence) - Weekly S/R objective - Oscillators extended AKROBTC’s immediate price action is trading at the Weekly S/R where a rejection to the Local S/R that is in confluence with the .382 Fibonacci is probable, allowing for long entries. Both oscillators are currently trading at extended regions, a reversion to the mid-points will be reflected in price action. The immediate objective is the Weekly S/R, breaching this level is key for a continued bullish bias. Overall, in my opinion, AKROBTC is a valid long with defined risk, price action is to be used upon discretion/ management, Hope this analysis helps Thank you for following my work 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,
ALong
by The_Alchemist_Trader_
AUDNZD Daily S/R| Swing High| .382 Fibonacci| Price ActionEvening Traders, Today’s analysis – AUDNZD- trading above a key S/R zone where a respect is probable, Points to consider, - Price Action Impulsive - .382 Fibonacci Support - Daily S/R Objective - Oscillators Neutral AUDNAD’s immediate price action is trading above a level that has technical confluence; this S/R level has a high probability of holding. The Daily S/R is immediate objective, exceeding this level will increase the probability of trend continuation. The volume node has a valid climax, follow through is critical for continuation. Overall, in my opinion, XLMUSDT is a valid long with defined risk; price action is to be used upon discretion/ management. Hope this analysis helps Thank you for following my work 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
Long
by The_Alchemist_Trader_
3
BCHSUDT Daily S/R| Swing High| Price Action| S/R Flip RetestEvening Traders, Today’s second analysis – BCHUSDT- breaking key Daily S/R, holding it as support will solidify the level. Points to consider, - Price Action Impulsive - Daily S/R Support (S/R Flip Retest) - Swing High Target - Oscillators neutral - Increasing Volume BCHUSDT’s immediate price action is impulsive above Daily S/R, a confirmed S/R Flip Retest will allow us to maintain a bullish bias. The current target is swing high; exceeding this level will increase the probability of a trend continuation. Both oscillators are currently neutral, trading in their respected bullish control zones. This is an indication of strength in the immediate short term. The volume profile is evidently increasing, must sustain for continued follow through. Overall, in my opinion, BCHUSDT is a valid long with defined risk; price action is to be used upon discretion/ management of trade. Hope this analysis helps! Thank you for following my work And remember, ‘’No on‘’No one strategy is correct all the time’’.- John Paulson
Long
by The_Alchemist_Trader_
12
BTCUSDT Rising Channel|Price Action|Increasing Volume|.618 FibEvening Traders, Today’s analysis – BTCUSDT = impressive rise, running into key Fibonacci levels where a short term rejection is probable. Points to consider, - Price Action Impulsive - Rising Channel Resistance (.618 Fib Confluence) - Support Zone Confluence (.50 Fib Confluence) - Oscillators Bullish Control Zone - Volume Increasing BTCUSDT’s immediate price action is impulsive breaking from its support zone. This allows us to have a bullish bias on the market. Price is approaching channel resistance that has heavy confluence with the .618 Fibonacci Extensions and Retracement, an initial rejection here is plausible. BTCUSDT has flipped resistance into clear support that is also in confluence with the .50 Fibonacci level. A back test here is plausible and must hold for a bullish market structure. Both oscillators are overextending, further upside momentum is highly probable until reaching officially overbought conditions. The volume profile is increasing, this is a sign of a true breakout and any pullback is likely to be bought up. Overall, in my opinion, BTCUSDT is a valid long at support zone; price action is to be used upone discretion/ management of trade. Hope this analysis helps! Thank you for following my work And remember, “You create your own game in your mind based on your beliefs, intents, perception and rules.” ― Mark Douglas
Long
by The_Alchemist_Trader_
ZECUSDT Falling Wedge| 00 MA Support|Local S/R Flip|Bullish DivEvening Traders, Today’s second analysis – ZECUSDT- trading in a falling wedge pattern that typically breaks bullish, Points to consider, - Price Action Bullish - Local S/R Support - Swing High Target - RSI Divergence - Volume Influx ZECUSDT’s immediate price action is bullish trading towards its apex, this allows us to have a bullish bias on the market. Local S/R is in confluence with the 200 MA as support that has been respected, breaking this level will negate our bullish bias. The swing high is immediate target, breaking above will establish a new local high and increase the probability of trend continuation. The RSI has a valid bullish divergence, this signals momentum shifting in the immediate short term, There has been a valid volume climax node, climactic volume usually is indicative of a temporary bottom being set. Overall, in my opinion, ZECUSDT is a valid long with defined risk, price action is to be used upon discretion/ management of trade. Hope this analysis helps Thank you for following my work! 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’
Long
by The_Alchemist_Trader_
1
DIAUSDT Falling Wedge|Price Action Apex|Swing Low|200MA|.618 FibEvening Traders, Second Analysis – DIAUSDT- trading in a falling wedge formation where a confirmation will be on a break of dynamic resistance. Points to consider, - Price Action Apex - Market Structure Lower Lows - Key Dynamic Resistance (.618 Fibonacci Confluence) - RSI Divergence Forming DIAUSDT is trading towards its apex in a bullish falling wedge pattern were a confirmation will allow us to have a bullish bias on the market. The market structure is currently making lower lows on dynamic support, holding this on the next test will increase the probability of a bullish divergence on the RSI. The volume profile is currently below average, a break of resistance will need increasing volume. This will signal a true breakout, aiding in avoidance of fake outs. Immediate target is the bearish retest zone which is in confluence with the .618 Fibonacci and market structure. A respect of resistance here is highly probable on the first test. Overall, in my opinion, DIAUSDT is a valid long once the falling wedge pattern is confirmed. Price action is to be used upon discretion/ management of trade. Hope this analysis helps Thank you for following my work! And remember, “You will never find fulfillment trading the markets if you don’t learn to appreciate and be satisfied with what you already have.” ― Yvan Byeajee
Long
by The_Alchemist_Trader_
COTIBTC Market Structure|Structural Resistance|21 MA| VolumeEvening Traders, Today’s Analysis – COTIBTC – impulse move into structural resistance – multiple daily candle closes will reclaim the level. Points to consider, - Structural higher lows - 21 MA Support - Structural resistance (S/R flip) - Oscillators neutral - Volume influx (follow through) - Daily resistance target COTIBTC’s structure is putting in consecutive higher lows, now testing key structural resistance. Confirming multiple daily closes will reclaim the level and establish an S/R flip. The 21 MA is a visual guide, breaking below will increase the probability of negating market structure. The oscillators are both neutral trading above 50, this in an indication of immediate strength in the market. A volume influx node is evident at key structure, follow through is needed, failure will lead to a probable false break. The daily resistance is the immediate target for this long trade, risk is defined below structural resistance. Overall, in my opinion, COTIBTC needs to close multiple daily candles above structural resistance to solidify an S/R flip. The immediate target is daily resistance; breaking below structure will negate this trade. What are your thoughts? Thank you for following my work! And remember, “Letting losses run is the most serious mistake made by most investors.” – William O’Neil
Long
by The_Alchemist_Trader_
4
CGC Key Levels| Weekly Support| Lower High| Low Volume Evening Traders, Today’s Technical Analysis will be on CGC, bouncing of its all-important weekly support, currently facing resistance from the 21 EMA. It must break daily support, or this is simply another lower high. Points to consider, - Macro trend bearish - Weekly support respected - Daily resistance is a key level - RSI coming of oversold - Stochastics projected up - Volume below average - VPVR Flat CGC has been putting in consecutive lower highs on its macro time frame, a strong established bear trend. Weekly support held promptly, a sign of being a true trade location. Daily resistance needs to break for a confirmed trend change, failure will simply mean a lower high. The RSI is coming of oversold conditions, will most probably return to its neutral zone. Stochastics on the other hand still has momentum stored to the upside. The current volume is below average, CGC needs an increase in bull volume to test daily resistance- it is looking quite weak at current given time. VPVR is currently flat, means low volume of transactions at current range, CGC could trade in this region for a while. Overall, in my opinion, CGC needs to break daily resistance, failure will simple mean yet another lower high, thus lower price levels likely. What are your thoughts? Please leave a like and comment, And remember, “Trading doesn't just reveal your character, it also builds it if you stay in the game long enough.” ― Yvan Byeajee
C
by The_Alchemist_Trader_
1
CGC Bear Trend|Critical Weekly Support|MJ Sector Evening traders, Today’s TA will focus on CGC which is in a brutal downtrend and is currently testing a critical support that if broken will send it to next local support situated at the $5 level. Points to consider, - Strong bear trend - Critical support being tested - Break of .236 Fibonacci (bullish case) - RSI broke key trend line - Stochastics projected downwards - Noticeable bear volume nodes CGC is in a strong bear trend with consecutive lower highs, this is evident across all stocks in the MJ industry. The critical support is currently being tested, due to the nature of the trend; it does have the probability of breaking. For a bullish case, CGC needs to break above the .236 Fibonacci level, this will put in a higher high and negate the overall bearish structure. The RSI broke its key trend line, this was coincided with the bear flag – the 200 MA also broke at this level. Stochastics is projected downwards, still has stored momentum to the downside and has not yet flattened out. CGC has noticeable bear volume on weekly nodes, a volume climax will send it breaking though support and put in a temporary bottom. Overall, in my opinion, CGC must hold this critical support; a break will send it to penny stocks territory where it can stay down there for a while. This is very similar to all stocks across the MJ sector. What are your thoughts? Please leave a like and comment, And remember, “Hope is bogus emotion that only costs you money.” – Jim Cramer
C
by The_Alchemist_Trader_
8
LINKBTC Bearish Divergence| Structural Support| .618 Fibonacci Evening Traders! Today’s technical analysis will focus on LINK’s blue sky breakout that currently has a probable bearish divergence at play. Points to consider, - True blue sky breakout - Structural support (S/R flip) confirmed - .618 Fibonacci in confluence - RSI diverging from price - Volume nodes below average LINKBTC has been in price discovery mode where there is no established resistance; this can be reflected by the VPVR. The structural support has been tested confirming the S/R Flip. This level is also in confluence with the .618 Fibonacci – only if current local top is in. RSI is diverging from price, putting in a lower high whilst the price puts in a higher low; this is a sign of topping out. The stochastics in currently projected downwards with lots of stored momentum. The current volume nodes are below average after initial impulses, signalling a potential climax in buying. Overall, in my opinion, LINKBTC may have put in a potential local top; a retrace to the .382 Fibonacci is the next logical target. If this level fails to hold, then a second retest of structural support comes in at play. 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 even among the professionals, who feel that they must take home some money every day, as though they were working for regular wages.” – Jesse Livermore
by The_Alchemist_Trader_
3
ETHBTC Structural Resistance| Buyer Exhaustion| Lower High Evening Traders! Today’s update will focus on ETH’s recent developments of getting rejected from structural resistance; a retrace is probable to the .382 Fibonacci. Points to consider, - ETH Parabola rise - EMA’s currently support - Structural Resistance tested - RSI overbought - Stochastics topping out - Noticeable bear volume ETH has had an insane parabolic run straight into a technical trade location, the structural resistance which has initially rejected it. EMA’s currently holding ETH as support, must hold true to continue with a bullish bias. The RSI is currently overbought; a cool off to neutral territory is probable. The Stochastics is currently topping out, lots of room stored to the downside. ETH has evident bear volume, signally potential buyer exhaustion leading to a healthy pull back in the trend. Overall, in my opinion, ETH is likely to retrace from such overbought conditions to cool of technical indicators. The Fibonacci level to pay attention to will be the .382, a healthy bull trend tends to respect this level. What are your thoughts? Please leave a like and comment, And remember, “Every trader has strengths and weakness. Some are good holders of winners, but may hold their losers a little too long. Others may cut their winners a little short, but are quick to take their losses. As long as you stick to your own style, you get the good and bad in your own approach.” Michael Marcus
Short
by The_Alchemist_Trader_
1
CRON Key Level Broken| Increase In volume| EMA Cross Quick update on CRON, which has broken a key resistance level, now potential support upon retest Points to consider, - Trend change with Higher High - Structural resistance broken - RSI diverging - Stochastics in upper regions - EMA’s support - Volume increasing Higher high has come to fruition; this is the first time in CRON’s bear trend, signalling a potential reversal. Structural resistance broken, now support upon a confirmed S/R flip retest. Stochastics in upper regions can stay here for an extended period of time, however lots of stored momentum to the downside. RSI diverging, confirming a bullish divergence as CRON puts in lower lows. EMA’s cross bullish, first time this has happened in the downtrend for CRON. Volume is visibly increasing confirming a technical level is being tested, this needs to sustain for a bullish continuation. Overall, in my opinion, CRON has healthy volume coming at key resistance now potential support. A continuation is probable, confirming the macro trend change. What are your thoughts? Please leave a like and comment, And remember “There is a huge amount of freedom that is derived from not fighting the market.” ― Yvan Byeajee,
NASDAQ:CRONLong
by The_Alchemist_Trader_
5