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Bearish Trend Line

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
A2M - Trade PlanA2M is at a very important juncture, currently at $10.20, and the market now is waiting for the announcement of its earnings report on the 25th of February. A2M has been consolidating between the range of $10.00 and $11.00 range, (50% Fib Retracement Zone) since the plunge in price. This (50% Fib Retracement Zone) is from the initial lows in May 2015, to its all time Highs of $20.00 in July 2020. This is also a High Profile Volume Zone where price is hovering currently. The market is anticipating the release of its earnings report with an estimate of $0.17 EPS, and I think that if it releases its EPS below estimate, or any negative surprise, then we may see some more pressure to the downside towards the $8.00 - $9.00 Zone (Extremely Critical Support Zone). If we see it announce higher then estimate or any good surprise, then we need to see the break of the Bearish Trendline coupled with High Volume. Price has been hugging the Bearish Trendline and has not been able to break and close above it as of yet. I want to see a decisive break of the Bearish Trendline with High Volume and a close above it, to take a Buy Position with a tight Stoploss below the 18th December, 2020 low. My Stoploss will be at $9.70, aiming for an initial target towards $12.00 - $13.00 zone, which is also a Gap Window Zone. Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
ASX:A2MLong
by AsimMirzaTrader
2
IAG - Is there a Buying OpportunityIAG made its lows of $4.30 in the end of September, then it pumped up and made a High of $5.50 in the mid of November, breaking the bearish trendline, with very High Volume. This indicates that the trend may have changed, and since then it had been pulling back and formed Bullish Candles at the 78.6% Fib Retracement Level of $4.55. I think it has already made some base between $4.50 and $5.00, and aiming for a potential run towards the main Resistance Zone (Target) at $6.20 - $6.50, a potential gain of 18%. Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
ASX:IAGLong
by AsimMirzaTrader
BTC - D1 - ON GOING PRICE RECOVERY PRICE ACTION...D1 : Saturday's price action triggered a Doji pattern. Yesterday's price action triggered a long black bearish candle with an intraday low, holding above the former uptrend (green arrow). Today's ongoing price action is showing a recovery in progress facing right now the first resistance level to break and it is, once again TS ! Second obstacle will be MBB (currently @ 34281) and then the D1 downtrend line resistance, currently @ 34600. Interesting to note that the yesterday'opening coincides with MBB and a daily closing today above that level would trigger a bullish engulfing pattern... with a closing level, ABOVE MBB and even better if it is above the downtrend line resistance !!! H4/H1 : Watch carrefuly in screening, shorter time frames H4 and H1, to monitor closely intraday price action in order to be able to react accordingly.
BITSTAMP:BTCUSD
by Ironman8848
BTC - W1 - WATCH CLOSING PRICE AT THE END OF THE WEEK...W1 : For the second consecutive week, the closing price of last week has been below the downtrend line resistance level; the shape of the candle (small body and long upside and downside shadows is confirming uncertainty !) Important to note the importance of TS which worked perfectly well again as a leading indicator in holding so far 3 times, rejecting downside breakout attempts... Therefore, this week closing price will probably tell more about the future... Indeed, as the level of the downtrend line resistance move down every weeky the area to break now is currently roughly @ 34000 vs 36000, the week before ! Nevertheless, an alone upside breakout of the downtrend line will not be sufficient to confirm, that we are out of the woods ! A strategic trend reversal would only be confirmed by a move, first of all above the 36'000 area (open level of the second black candle) ahead of 38'000 (open level of the first black candle) Such kind of move would neutralise the current ongoing downside risk. On the downside, a weekly closing below the closing level of the second black candle @ 32288 would confirm further downside in the cards. Finally, TS, currently @ 29784, is the key pivot level; a failure to hold on a weekly closing above that level would directly put the focus on my first strategic target of 27426 (38.2% Fib ret / (3850-42000) ! D1 : Watch carefully D1 price action to get clues for further intermediate signals over the coming sessions.
BITSTAMP:BTCUSD
by Ironman8848
BTC - H1 - 61.8% FIBONACCI RETRACEMENT FILLEDH1 : Short term recovery took place, filling on its way the 61.8% Fib ret of the last short term downside move. An extension towards the 78.6% @33343 can not be ruled out. Nevertheless, as already mentioned a couple days ago, in order to confirm a trend reversal, we need to see a clear upside move which should break first 33915, ahead of 34247 and finally 36000. A failure to do it would confirm that recent and current short term price action are purely corrective in bear trend still in place; such kind of short term price action, for the time being, should still not be seen as a trend reversal price action but as opportunities to get out of long exposure or to initiate short positions at better levels ! On D1, watch carefully the daily downtrend line resistance which is still intact and which will give clue on strategic view. Have a nice Sunday :-)
BITSTAMP:BTCUSDShort
by Ironman8848
3