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Rejection

GBPUSD Cable Long Term TradeI am looking at the potential for a long term buy & hold on GBPUSD. There is a nice daily wedge pattern forming with price being supported by a lower bullish trendline and the daily 50EMA. Multiple daily wick rejections are forming at this current zone and I think we could see a push upwards and break of the upper wedge trendline. Risky entry = buy now and anticipate the break of the wedge. Low risk entry = Wait for the wedge trendline to break first. TP1 = Previous resistance at 1.35 Long term profit target = weekly/monthly resistance at 1.43500
Long
by UnknownUnicorn772665
2
DENIED But still bullish! - Bitcoin BeatsHello, Hello, Hello, And welcome back, to Bitcoin Beats. Yes. We got DESTROYED by the Chinese whales. Yes. I WAS bullish yesterday. BUT. I also said NOT to long until we CLOSE the daily candle outside of our resistance line. Because, AND I QUOTE "This could still be a trap here". So I hope you're all having a great day, we have evidence here that we are more bullish as we haven't even wicked over that resistance line since $14,000 so there is hope and I am still very bullish to get to the next area upwards but this is still a rejection and we could head down from here in the short and medium term. For continuation upwards we need to either consolidate this area or bounce hard from $8500. Thanks and Goodbye, From Bitcoin Beats
BITMEX:BTCUSD.PLong
by Hamilton_Gilpin
I'll Take "What Is A Bear Trend" For 500 AlexHello all, This is just an update from my last chart better representing levels, just in case we continue our bearish trend. This chart, compared to our last, is charted on the daily rather than the 4 hour time frame. We have touched basis with our trend and rejected, if we don't make another move to break out in the next week i suspect we will be descending deeper/ possibly retesting our lows in 2018, but that is unlikely as of now. (At this moment in time my last chart is still active, but if our total drops below ~228B we are most likely continuing our bearish trend) Grey Lines represent Fib levels. (Fib levels starting point is December 2018 Lows/ ending point June 2019 Highs) Red lines Represent Support and resistance zones. If we fail to break out of our long standing bearish trend, represented by the Red line directly above our candle stick patterns, we will most likely head down for lower lows during February-March. In my opinion it is not wise to be over leveraged in either direction at the moment as we are at a turning point in the market. Feel free to comment and share your views. As Always DYOR and safe trading.
CRYPTOCAP:TOTAL
by CapitulationCalls
AUDNZD rejection + breakout on a descending triangleAUDNZD action, in the past 20 trading days, seems to be represented very well on the H4 chart by this descending triangle. Right now, we are having some important upper shadows on the upper part of the triangle, showing that sellers might be interested in getting that range of prices for their short positions. This is a standard trade for traders who have watched my course on Swing Trading. There is something unusual though. Since the price is already in the last part of the triangle, we don't really have room to trade a rejection with a take profit at the bottom of the chart pattern, because we would have a very bad risk to reward ratio. In this case, I will also consider a possible breakout of the pattern, placing my take profit below it. Regarding the take profit, standard measured move applied to breakouts. Setup of moving averages is in favor. Risk to reward ratio better than 1:3, it is a good chance to trade.
Short
by FedericoSellitti
USDJPY rejection on the Ichimoku cloudUSDJPY is in a short term downtrend that is highlighted very well by the Ichimoku indicator, with the two fundamental conditions that are in favor of a bearish scenario. At the moment, we don't really have a concrete reason to open a short position: 1. There's no sign of sellers. Just a few bearish candles, but nothing special. Two weak bearish engulfing patterns and one strong red candle that has been immediately matched by a strong green candle; 2. Chikou span just crossed the price, going above. This is usually a buy signal; 3. Price above the kijun sen; 4. Tenkan sen above the kijun sen For these reasons, I would like to propose a sell stop entry order, instead of a market order. Trading a rejection here makes sense because the price is not only approaching the Ichimoku cloud, but also two key-levels. A first key level is shown in red, it is the horizontal line that starts from last important swing high (red arrow). It is obvious that, if the price goes above it, we need to question the existence of a downtrend, since we would have a higher high, that is a characteristic of an uptrend. Another important level is highlighted in light blue, with the horizontal line showing a recent short-term resistance, with the price clearly struggling to go above it. So, if from one side, trading a rejection makes sense, from the other side, we also need to wait for a confirmation, since we still have 4 points (mentioned above) that are not clear or not in favor of a short position. I placed a sell stop entry order at 108.24, waiting for the price to go down, leaving this short term congestion phase. At 108.24, we will also have the price very close to the blue line, the red line heading down again and the Chikou span about to cross the price from above. I decided to place the stop loss above the resistance analyzed before, that would also be above the cloud about 20 candles from the current price. Regarding the take profit, standard measured move with a small discount, that would give a risk to reward ratio that is better than 1:2.
Short
by FedericoSellitti
1
XAUUSD 4hr - At 5 Month highs. Awaiting breakout or rejection.Gold is currently sitting around the resistance zone at a 5 month highs. We are expecting breakout here for continuation or rejection and for gold to fall. If the rejection happens this is a great opportunity to catch a lot of pips on the downfall. This is one we are watching closely at the moment. We will be looking very closely for rejection here or a possible breakout to the upside. Big things coming for Gold over next week guys.
FX:XAUUSD
by Liquidpips
GBPUSD- TRENDLINE BOUNCE SOON-LONGDuring this couple weeks, #GBP pairs were very dodgy, being influenced a lot by major news, but as i said, trading is 90% technical, the price started fixing the huge volatility and gave us a new perspective of a new channel. The rejecton was very beautiful and now the price is preparing to touch the current trendline, touching also and intra support&resistance. the stochastic RSI looks good. Now all we have to do is to wait ! Follow me here and on instagram too @samurai.trader
Long
by sorel-investments-group