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Bearish Trend Line

Nice Short From Resistance LevelA simple trade; Met with daily resistance from the channel's resistance line. The candlesticks are being more than generous this time by showing their act. A good short, increase the stop loss a little more if you want to be more conservative, avoid any RR below 5. Don't go for the take profit near the support channel line because the price can bounce back to a supply zone from the white rectangle as the demand is strong there. Avoid risking more than 0.5% on the trade, apply a good risk management rule. I will try my best to increase our capital by 10% per week. Let's see how it goes.
Short
by VeerForex12
BTC - D1/H4 - ONGOING BEARISH PRICE ACTION !D1 : Yesterday's price action triggered a hammer ! Unfortunately, lack of momentum did not offer further support for a reversal upside continuation. Indeed, today's ongoing price action is rather showing the opposite, current price action should, of course, be confirmed by the closing level at the end of the day. Today's closing will be very important because it may validate a clouds support breakout or not !!! and the impact will determine the marked direction for the coming session (s). Globally, as shown on this D1 chart, BTC switched from a former uptrend channel (in green) to a new downtrend channel (in red), which means that the trading mode also switch from already a couple of days ! from a buy on dips to A SELL ON RALLY !! Conclusion : No change in my view, I still expect further downside towards 46847 ahead of 42588 In order to invalidate this expected scenario, we need to see a recovery, first of all above the clouds and more important above the MID BOLLINGER BAND, which is, as already mentioned several times, THE LEADING INDICATOR, and which should not be underestimated. H4 : In a ongoing bearish price action (broad downtrend channel), with a secondary downtrend in place. Cluster resistance being for the time being in this H4 time frame around 52400 ahead of former triangle support which became now the new resistance area, currently around 53'200 ONLY A SUSTAINABLE RECOVERY ABOVE 53'200 (H4), WOULD FORCE TO A VIEW REASSESSMENT OF THIS EXPECTED BEARISH SCENARIO
BITSTAMP:BTCUSD
by Ironman8848
EURNZD | Perspective for the new weekI am not certain that the Euro is ready for Bullish bounce in the nearest future as a continuous rejection of Supply zone and Key level since the beginning of the month remains an emphatic sign of a Bearish bias. Tendency: Downtrend ( Bearish ) Structure: Breakdown | Supply & Demand |Trendline Observation: i. Bearish Trendline: The visual representation of line drawn over pivot highs represented on the chart (Pivot I to VI) explains the prevailing direction and speed of price in the last 3 months. ii. The Breakdown of NZ$1.67000/1.66500 area February 2021 followed by rejection of this zone emphasizes the strength of Sellers at this juncture in the market. iii. A further breakdown/rejection of NZ$1.65400 in the coming week(s) should encourage adding to the existing position as the Key level remains a yardstick for Bearish tendencies. Trading plan: SELL confirmation with a minimum potential profit of 350pips. Risk/Reward : 1:4 Potential Duration: 5 to 10 days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
BTCUSD - D1/H4 - WATCH PSYCHOLOGICAL LEVEL OF 50000 !D1 : Cluster remains around the psychological level of 50000. Indeed, this level coincides with both, the current level of the downtrend line resistance and with the Mid Bollinger Band.(49925) Therefore, a move and a D1 closing level above 50000 could change the current bearish mode to a bullish one. Wait today's closing for confirmation ! H4 : Failure to breakout the Mid Bollinger Band level triggered a strong recovery. Watch carefully price action on this time frame, BTC is currently trying to break the former downtrend line resistance in entering in a very strong resistance zone which is the clouds zone and which is VERY THICK, therefore should not be easy to break. Important to note that the former high (@ 50250) is close to the 50 % Fibonacci retracement level (@ 50620) which coincides with the top of the clouds. In case of a continuation upside move towards those levels, do not forget that a potential double top could take place with a trigger level roughly at the level of the Mid Bollinger Band support currently @ 47216 !
BITSTAMP:BTCUSD
by Ironman8848
1
SCP - Trade PlanMy trading Bias is Bullish for SCP as Earning Report is out of the way now, and after smashing surprise positive earnings. On the technical front, SCP managed to break out of the Bearish Trendline with High Volume indicating that the Bulls are now in control and want to take the price higher. It has gotten Support right at the edge of the trendline and at the 61.8 Fib Retracement Level, and also the 200 SMA. TP - $2.50 (Potential Gain 5%) TP - $2.60 (Potential Gain 5%) Stoploss - $2.250 Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
ASX:SCPLong
by AsimMirzaTrader
COF - Trade PlanMy Trading Bias for CSL is Bullish because after forming a High High, it has confirmed that it is in an uptrend. The recent pullback at Fib Retracement level of 78.6% has been good support, and Bullish price Action with a break of the Bearish Trendline coupled with High Volume indicates that COF should continue to the upside. TP1 - $2.150 TP2 - $2.230 Stoploss - $1.870 Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
ASX:COFLong
by AsimMirzaTrader