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Bearish Trend Line

BTC - D1 - BEARISH ENGULFING PATTERN...D1 : Yesterday's price action triggered a Bearish engulfing pattern. Intraday recovery failed to upside breakout the downtrend line resistance which remains an important area to clearly break which if done, would confirm further upside. 36130 (Tenkan-Sen) remains, as already mentioned several times in my post one the main leading indicator. 34400 ( MBB ) is the second support which should be seen also as a very good barometer, as already seen in the past. 32191 is the ultimate support, a failure to hold above that important level would trigger a sharp downside move Conclusion : on D1 basis, BTC , need, in order to stabilize the downside risk, quickly recover and hold above at least 39150 (closing & opening of former sessions) which would confirm an upside breakout of the current downtrend line resistance. Sell on rally towards the downtrend resistance line See H4 post which will posted in the next couple of minutes for intraday clues Have a great weekend. Best Ironman
BITSTAMP:BTCUSDShort
by Ironman8848
Is Gold looking for a deeper correction abyss?It is clear by now that the Gold fantastic dreams of going to the moon in 2020 as the safest heaven asset are proven to be incorrect. Investors are heavily invested in the stock market and digital assets profiting from all the new printed money that is pouring in. For many investors, Gold is the easiest asset to liquidate from their portfolios. Selling gold to reinvest in other winning assets, or cover commitments and immediate debt seems to be a no brainer. Investors will favor selling gold as opposed to sell other more profitable assets. The fact that Gold is falling to achieve new heights in 2020, it shows a much deeper issue with the metals, in which IMO has to do with the way modern investor see it, no longer as a monetary asset, but more like a commodity that they park money occasionally. Bitcoin in the other hand keeps going up, despite many gold bugs wishes of otherwise. Bitcoin is close to revisit its ATH of $20,000 as Gold breaks down unable to secure $2,000, a modern classic investment asset battle took place, and Gold lost. IMO Gold is bound to go much lower in 2021, I can see it breaking down much lower the 200ma, possibly towards the lower 1500 hundreds, who knows, even lower, perhaps the death cross will follow with a long consolidation period. If gold didn't manage to break out in the worse financial year since WWII, it will not be able to do much in 2021 supposedly a recovery year, for those holding it, hedge accordingly.
OANDA:XAUUSDShort
by Allenvik
USDJPY 103.48 + 0.13 % SHORT IDEA * CONTINUATION PTTNSHELLO EVERYONE Here's a look at the DOLLAR / YEN that has been trading in a descending channel structure with some spikes here and there, the pair just broke a significant support level structure looking for a pull back as the pair is over sold on most indicators the 38.2 % Fibonacci is aligning perfectly with structure which is our previous support now resistance now the 50 % Fibonacci may come into play as well as target 2 as we've seen some spikes on the pair. Looking for the descending channel to hold and see a push up into structure for a retest / rertracement. LET'S SEE HOW IT GOES.. HAPPY TRADING EVERYONE & LET YOUR WINS RUN... _________________________________________________________________________________________________________________________ ENTRY & SL - FOLLOW YOUR RULES here's some of my rules if they help. 1. look at structure be it descending channels, pennants and so forth. 2. RSI is overbought/oversold so will be looking for a pull back to structure before continuation. 3. will be looking for entries from 30M , 1H, 2H & 4H time-frames if taking the trade long term. 4. aggressive trades can be executed on the pull back 5. price action must definitely align with the plan.' 6. structure definitely 7. the 20 EMA must be respected as support / see a bounce at this structure 8. FIBONACCI EXTENSIONS AS GUIDELINES FOR SL & TP'S . 9. CANDLE STICK PATTERNS. so i will most like's enter this one in a bit but i hope this idea assists in any way on your trading plan. RISK-MANAGEMENT PERIOD - SWING TRADE __________________________________________________________________________________________________________________________ If this idea helps with your trading plan kindly leave a like definitely appreciate it.
Short
by PULEMokhothu
NZDCHF setting a new high?NZDCHF is currently in a good short-term uptrend, with the price that is just breaking another area of resistance, setting a new 12-day high. If we have a closer look at the price action, we can see that the setup of the moving averages is slowly turning bullish and the price is also breaking last moving average, the long term one. There is still a possible key-level to monitor, a downtrend line that already had 2 touches and may work as a potential level of resistance. In this case, you can enter the trade now and then keep an eye on that level, evaluating the option to exit your trade if we have a rejection, or you can wait for a breakout of that level. I decided to enter now, with a convenient risk to reward ratio and I will monitor the action around the downtrend line. Good luck!
Long
by FedericoSellitti
1
EURCAD Short Term Sell Idea - Multi-timeframe AnalysisD1 - Potential double wave down. While measuring the first wave we could see that the price still has room lower towards the 61.8% fibonacci expansion level. H4 - We have a magnet zone formed by the 161.8% fibonacci expansion level of the H4 first wave and the 61.8% fibonacci expansion level of the daily first wave. Price still has room lower towards this magnet zone. Until the downtrend line holds I expect the price to continue lower further after pullbacks.
Short
by VladimirRibakov
5
FCPO TRADING : 111) WAITING FOR REBOUND TO SHORT SHORT WHEN REBOUND UNTIL 2770 HIGH IS BROKEN... resistance : 2670 higher resistance : 2700 previous high ; 2770 lower support : 2560 current support : 2625 - 2630 Comment: WARNING : this is juz a trading idea... thr is no indication of buying nor selling...this is juz my personal trading journal, trade at your own risk! **your "LIKE" and "FOLLOW" are my main source of motivation to continue posting more valuable contents...TQ**
MYX:FCPO1!Short
by HAIDOJO_trading
lower highs are formed for fkli_junenot looking gud for fkli as more lower-highs are formed in hourly chart...IF the breakout of 1486-1490 happens, we shall see more selling pressure...the gud news is, june is " windows-dressing" month...so probably we will see some uplift during the last few days of the month.. immediate and critical support : 1486-1480 immediate resistance : 1515 - 1520 depends on SMA-200 strategy : short on rebound or wait for breakout of 1486 support...
MYX:FKLI1!Short
by HAIDOJO_trading
Sell Analysis on NAS100USD from a RookieTechnical Analysis is lining up with Fundamentals. America is currently under a Crisis. Price has failed to break above 9593. Due to the uncertainty of the re opening of the economy and another potential 2nd wave of Covid 19 and with violent civil unrest. I see price failing to make another higher high and continuing to make lower highs for the NY session today. Im already seeing profits on this trade and I expect to hit my TP 4 by end of day. Like or Comment if you agree. May God Bless America because he's the only one with the answer for what our nation and world is facing. Futures are down before the opening bell leaning towards a bearish trend going into the NY session.
OANDA:NAS100USDShort
by TradingTrav101
GBPUSD short, retest of keylevel resistance. 1.618 fib extenstioGBPUSD has formed a double top for the last few weeks, which is a bearish sign. A weakness of the Bullish trend. It broke the 1.2200 Support Area and bounced off around the 1.2100 area. Currently, the cable/GU will retest the 1.2200 as a resistance, and might break it as well as the bearish trendline. If it breaks both the trendline and the resistance, Idea is scrapped. And out of the trade. For now I'm gonna look for short in GU and wait for more candle confirmation and rejection at the resistance, such as a bearish engulfing candle. And a probable Take profit area is around 1.1900 which also is the 1.618 fibonacci extension.
Short
by Jimbololoy
CADJPY with an outstanding risk to reward ratio!Bearish engulfing pattern on a downtrend line for CADJPY. Last week, JPY has been one of the weakest currencies, while CAD has been one of the strongest. In terms of market action, I normally would wait for a confirmation, since buyers have been very strong. The opportunity offered by the risk to reward ratio (up to 1:10!) that we can get, leads me to take this trade on the bearish engulfing pattern on the key-level, without waiting for a second confirmation. I'm planning to take part of the profits on each potential level of support highlighted by the pink rectangles. Good luck!
Short
by FedericoSellitti
USDJPY TRADING IDEAThis is my analysis and trading plan on USDJPY i'm looking to short/sell from the 61.80 FIB retracement where the sell is indicated with several confirmations. 1. First confirmation is the double bottom that is about to form at the area of support and indication of a reversal sign with the two green arrow and fib rejection of 0.00 going for a buy/long into the sell zone heading to the 61.80 FIB to find a resistance level. In turn forming a double top indicating a clear reversal sign with the two red arrow which will cause a draw down. 2. Second confirmation, the trend is bearish so i patiently wait for my analysis to play out giving me a clear and strong confirmation to sell/short. RISK/REWARD RATIO @ 1:6 STOP LOSS @ 100 TAKE PROFIT 3 @ 617 I welcome all comments, feedback, ideas and sharing of knowledge. Have a great trading week! Disclaimer: (This is for educational purpose only. Thank You.)
Short
by investor_tfunds