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Weeklysr

BNBUSDT Daily S/R| Trading Range| Price Action| Trend Evening Traders, Today’s analysis – BNBUSDT – trading at a clear resistance where a rejection is plausible, Points to consider, - Price Action corrective - Daily S/R Resistance - Int Daily S/R Support ‘ - Pull back objective BNBUSDT’s immediate price action is trading at a resistance, that being a key Daily S/R level, this allows for a bullish bias. The immediate objective is the Int-daily S/R, rotating towards the lows will continue the overall range. Overall, in my opinion, BNBUSDT is a valid short 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 mind is a fascinating instrument that can make or break you.” ― yvan Byeajee
Short
by The_Alchemist_Trader_
3
XLMUSDT Descending Channel| Volume Influx| 200 EMA| Price ActionEvening Traders, Today’s analysis – XLMUSDT- trading in a defined descending channel that is likely to break bullish, Points to consider, - Price Action Impulsive - Weekly S/R Support (.618 Fibonacci & 200 MA) - Daily S/R Objective - Declining Volume XLMUSDT’s immediate price action is trading in a bearish market structure until proven. This will only come to fruition on a bullish break. The Weekly S/R is current support that is in confluence with the Weekly S/R and .618 Fibonacci. Price Action retracing here is likely to respect the level. The Daily S/R is current objective, breaching this level will likely increase the probability of continuation. Current volume profile has an influx after declining, this is indicative of momentum picking up in the immediate short term. 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, “Accepting losses is the most important single investment device to insure safety of capital.” – Gerald M. Loeb ‘’No one strategy is correct all the time’’.- John Paulson
Long
by The_Alchemist_Trader_
6
XLMUSDT Weekly S/R|Dynamic S/R|Stoch Buy Cross|Declining VolumeEvening Traders, Today’s Analysis – XLMUSDT- trading under key Weekly S/R, this is a pivot on the weekly time frame, Points to consider, - Price Action Pivot - Weekly S/R Resistance - Dynamic S/R Support - Stochastic Buy Cross - Declining Volume XLMUSDT’s immediate price action is at a pivot point, how price action forms here will help with our directional bias. The Weekly S/R is current resistance, breaching this level will show strength in the immediate with swing high being the gradual target. Dynamic S/R has been flipped as support with a confirmed retest; this is an early sign of momentum picking up. The stochastics has a valid buy cross; resting on support gives it a greater probability of shifting up. The volume profile is currently below average, an influx is highly probable when testing key trade locations such as the Weekly S/R. Overall, in my opinion, XLMUSDT is a valid long ONLY above Weekly S/R; price action is to be used upon discretion/ management of trade. Hope this analysis helps, Thank you for following my work! And remember, “Stocks are bought not in fear but in hope. They are typically sold out of fear.” – Justin Mamis
Long
by The_Alchemist_Trader_
4
EURGBP Bearish Retest|Weekly S/R|Low Volume|Oscillators ExtendedEvening Traders, Today’s analysis – EURGBP respecting its .618 Fibonacci leading into an impulse move, price action is currently testing weekly S/R where a rejection is probable. Points to consider, - Macro trend range deviation - Bearish Retest (Weekly S/R) - Local S/R (immediate support) - Oscillators extended - Volume below average EURGBP has had a previous impulse that leads to a range deviation thus any back tests are considered a bearish retest. This allows us to have a bearish bias on the market. The Local S/R is the immediate support, holding this level will confirm an S/R Flip retest. Both oscillators are trading in overextended regions, this is indicative of the market getting overbought and that a reversion to the mean is probable. The volume profile is currently below average, it’s important to note that price rising on declining volume in usually bearish. Overall, in my opinion, EURGBP is a valid short with risk defined below weekly S/R. Price action is to be used upon management/ discretion of trade. Thank you for following my work! And remember, “Hope is bogus emotion that only costs you money.” – Jim Cramer
Short
by The_Alchemist_Trader_
SPY| Bearish PA| Weekly S/R| Bearish Divergence|.618 Fibonacci Evening Traders, Today’s analysis – SPY – possible blow of top with further downside probable, following technical points to consider. - Bearish PA (swing high) - Valid bearish divergence - Weekly S/R support - .618 Confluence (200 DMA&DEMA) - Increasing volume SPY’s immediate price action at swing high is bearish; a large wick on a weekly candle usually marks a temporary top, this allows us to have a bearish bias on the market. Weekly S/R is the next logical support; price action is likely to have a reaction. Breaking this level will be very bearish. Price will then have a higher probability of testing the .618 Fibonacci in confluence with the 200 DMA&DEMA. Spy currently has a bearish divergence on the weekly; this is an indication of weakness in the market, thus further downside likely. There is also increasing volume after absorption, indicating sellers are stepping in pushing current volume node above average. Overall, in my opinion, the SPY is likely to correct further with weekly S/R immediate target. Any short positions are to be risk defined. Price action is to be used upon management/ discretion of trade. Hope this analysis helps! Thank you for following my work! And remember, “Win, loss whatever emerges in the short-term, place and manage your next trades untouched, unattached... always keeping your eyes on the long-term picture.” ― Yvan Byeajee
AMEX:SPYShort
by The_Alchemist_Trader_
1
USDCAD Dynamic Resistance|Weekly S/R|21 MA|Technical DivergenceEvening Traders, Today’s analysis – USDCAD – consecutive lower highs into weekly S/R, price is likely to pivot. Points to consider, - Trend bearish (dynamic resistance) - 21 MA resistance ( confluence) - Weekly S/R (key support) - Oscillators technical bullish divergence - .50 Fibonacci target USDCAD’s immediate trend is bearish until the dynamic resistance is breached. The 21 MA has been holding price down, in confluence with dynamic resistance, price breaking this will likely lead into a price expansion. The weekly S/R is a major technical level that price is testing; this is a pivot as price is coiling in its apex. A break in either direction will be noticeable. The oscillators both have a technical bullish divergence, this increase the probability of breaking bullish, however confirmation will still need to be on a break of dynamic resistance. Overall, in my opinion, USDCAD is a valid long after breaking key resistance. Price action is to be used upon discretion/ management of trade. Hope this helps! Thank you for following my work! And remember, “Trading doesn't just reveal your character, it also builds it if you stay in the game long enough.” ― Yvan Byeajee
Long
by The_Alchemist_Trader_
OAXBTC Falling Wedge| Weekly S/R| Swing High| Low Volume Evening Traders, Today’s Analysis – OAXBTC- trading in a falling wedge structure holding weekly S/R, a break bullish will see continuation. Points to consider, - Bullish chart formation - Weekly S/R Support confluence - Swing high immediate target - RSI diverting - Volume declining OAXBTC is trading in a falling wedge pattern that has a higher probability of breaking bullish. Price is approaching its apex, signalling a break imminent in the immediate term. The weekly S/R is holding true confirming an S/R Flip retest. This level has multiple technical confluence, the 200 DMA & DEMA with the .50 Fibonacci – proving to be a strong trade location. Activation of the falling wedge will make the immediate target swing high, breaking this level will confirm trend continuation. The RSI is currently diverting, a reclaim above the 50 mid-point is an early indication of price breaking. The volume profile is declining, common in patterns as price finds its equilibrium. An influx will signal price breaking leading to an expansion. Overall, in my opinion, OAXBTC is likely to hold weekly S/R allowing for a long trade with defined risk. Price action is to be used upon discretion| management of the trade. What are your thoughts? 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
OLong
by The_Alchemist_Trader_
4
NZDJPY Dynamic Resistance| Local S/R| 200 DMA| Macro Bear Trend Evening Traders, Today’s analysis – NZDJPY- in a macro bear trend where rallies are to be sold into until proven otherwise, current set up allows for a short. Points to consider, - Consecutive LH’s & LL’s - Local S/R Flip bearish - Weekly S/R target - Oscillators below 50 - Volume below average NZDJPY has a bearish bias as the trend continues to establish lower highs. The local S/R has been flipped; a bearish retest will solidify the level. Essentially this retest will allow for a short entry. The weekly S/R is this immediate target, holding this area is crucial if the market structure is to be changed. Both oscillators are currently below 50, this is an indication of weakness. Price Action can travel further down before hitting oversold conditions. The volume is below average, an influx will be indicative of price movement from key trade locations. Overall, in my opinion, a local S/R Flip retest will allow for a valid short with risk defined. Price Action is to be used upon discretion/ management of trade. What are your thoughts? Thank you for following my work! And remember, “Trade the market in front of you, not the one you want!” – Scott Redler
Short
by The_Alchemist_Trader_
4