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Downtrend

GMT SCALPING DOWNTRENDThere seems to be a downtrend on GMT 15 Minute timeframe after the contraction and expansion phases. As long as the trend is respected you could probably make some decent profits. ═════════════════════════════════════════════════════════════════════════ Contraction Plotter Indicator: www.tradingview.com
Short
by Traders_Endeavors
COST, Another clean short set up !COST is offering another clean short set up. After proposing a beautiful and profitable Quasimodo pattern , COST reached to our first proposed take profit target ( See Related idea for details). After hitting our target , COST started a rally which is beautifully an abc form of counter trend correction . This abc form counter trend correction hit 0.618 retracement level of previous decline . Mentioned previous decline which was our short position is beautifully 12345 leg down therefore in terms of Elliott waves, every thing is it's right place to go short. Moreover, stochastic indicator is in overbought zone in daily time frame which may be a good signal for possible trend reversal. Please note two cluster of Fibonacci levels can be seen on the chart. COST has reacted well to first cluster which also nicely coincides with down trend line shown on the chart. This down trend line is a valid one since it has 3 rejection in it's history and yesterday hit might be the 4th rejection. Trade set up and information were also added to the chart. Please note that besides all these bearish evidences , our proposed set up may not go well therefore I kindly ask you to set stop loss carefully . As explained on the chart, if you can tolerate more risk it may be a good idea to set stop loss higher at 565 USD. Our take profit targets show our Reward to Risk Ratio is extremely high so I think it is good to take the risk. Good luck and wish you continuous profit.
NASDAQ:COSTShort
by SaeedSajedi
5
Will Bitcoin goes for 14500?Everything is clarified in the chart you can see upgoing and downgoing cycles after every bitcoin halving. RSI had a downward breakout the red RSI trend line named T1 in the monthly timeframe where you can see a little red rectangle and arrow there. The continuation of the RSI path is probably like the blue line drawn named R1. About the BTC price, I am expecting the price to reach 14500 - 19000 dollars until Dec 2022. of course, it can reach that target a few months earlier or late. Note that before Halving 2024 bitcoin will not have ATH. It means before Apr 2024 bitcoins price will be under the 69000 and even maybe 50000 dollars. After that time the price will go to 120000 dollars. Do not forget that the trend of the bitcoin and crypto market is still downward and bearish. You can see my idea about this analysis in a weekly time frame in another published idea on my profile page.
BITSTAMP:BTCUSDShort
by Trade_n92
4
EURCHF I Correction and continuationWelcome back! Let me know your thoughts in the comments! **EURCHF - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support! Brian & Kenya Horton, BK Forex Academy
Short
by BKTradingAcademy
14
BTC forming a PURRfect structure!BTC following the sleepy KATATA Cloud (created by WhoIsWu). Expecting 2022 to be generally a Downtrend year, a few factors contributing to this: Institutions Geopolitical uncertainties Supply Chain woes Work from home trend Inflation (fiat) ...and a million other reasons. I've covered a few targets in my previous ideas, like BTC heading to 33K and then some, targets are still valid. 33K to 30K is a strong Support channel. There's a lot of talk from governments launching/testing CBDC (Central Bank Digital Currency) this year. I'm not sure what that means for BTC, but fingers crossed, we'll see 12.5K. I'll give you a moment to process that. Institutions plan for long term, that includes the institutional Short sellers. A brutal selloff is very possible, BTC has done that a few times. I trade shorter timeframes, 4H, 1H and 15M. But I always set trend on a 21H chart, and favor going Short. Whatever the future holds, a few rules I never break: #1 Setup on Multiple Timeframes #2 Always set Stop loss and Trailing-Stop #3 Never Leverage over X3 #4 While in trade, I'm glued to the screen #5 Don't chase ❤️ If you enjoy my ideas, Please like/comment, it means a lot, Thank You! ❤️ Have a Laugh! Not trading/investment advice BINANCE:BTCPERP COINBASE:BTCUSD BYBIT:BTCUSDT FTX:BTCUSD BINANCE:BTCUSDT OKEX:BTCUSDT OKEX:BTCUSDTPERP
by WhoIsWu
4
BTC's Downtrend Cannot Reverse While Sellers Remain in ControlPrimary Chart: Linear Regression Channel, Fibonacci-Derived Price Target, and Two Long-Term Anchored VWAPs Many crypto enthusiasts have called for a bottom at the various lows in the BTC's downtrend over the past year. At each of the major lows, eager dip buyers swooped in and tried to pick a market bottom. The major swing lows in this bear market in BTC have occurred in December 2021, January 2022, February 2022, May 2022, and June 2022. Each low likely was considered as the bottom (a final low) by investors who pounced in to buy or averaged down on already losing positions. Some savvy traders may have identified extreme oversold conditions in crypto markets at each of these lows and traded a 5-20 day rally to make a tidy profit, and such short-term traders are beneficiaries of the sharp bear rallies that have occurred. More patient short sellers have also benefitted from the bounces if they waited until overbought conditions materialized to position bearishly. The linear regression channel shown on the Primary Chart shows how each interim bear-market low has been followed by a rally back to the top of the regression channel. Once there, investors who had hoped the trend had reversed of the most recent lows were once again disappointed. How many more lows will disappoint the long-term bulls? No one knows. But the odds are stacked heavily against dip buyers for anything more than short-term rallies from extremely oversold lows at downtrend support. Both long-term VWAPs shown on the Primary Chart reveal that the average buyer is now underwater. This means sellers remain in control. As long as sellers remain in control, and as long as downtrends remain intact, it's a low-probability bet to hope for major trend reversal—traders, however, who can remain disciplined and follow technical evidence without letting their biases interfere too much, may make handsome profits as price reaches new lows only to sharply rally back to downtrend resistance. The longer-term VWAPs should be evaluated closely on the Primary Chart. They are both in dark blue. Note that this downtrend has caused price to break below both longer-term anchored VWAPs—one of which is anchored to the pandemic lows in March 2020, and the other of which is anchored to August 2017 lows. Price has paused at each of the long-term Fibonacci retracements measured from the pandemic lows on March 13, 2022, to all-time highs at $69,000. Over the summer, when BTC has rallied it has shown support at the long-term .786 retracement level at $17,792.10. But at the other major retracements, price paused for some time and tested and retested before a break of the level occurred. Price has already tested this $17,792.10 level before bouncing back above it. The next time this area is tested, it should prove weaker. Supplementary Chart A: Long-Term Fibo Retracement Levels It is possible that price is forming a giant corrective A-B-C zigzag (or WXY pattern involving multiple zigzags) from the all-time high. Elliott Wave can be tricky, and multiple wave counts can remain valid simultaneously. Additionally, Elliott Wave counts can continually evolve as price action disproves some wave counts while opening up the validity of other alternatives at the same time. At this time, however, the entire downtrend can plausibly be viewed as a 3-wave move at the largest degree of trend, thus an ABC or WXY corrective pattern. Supplementary Chart B: ABC or WXY Elliott-Wave Corrective Pattern from All-Time Highs with Price Target where Two Declining Waves Have Equality or Near Equality If this is true, price could likely find a low near the 1.00 to 1.272 projections of wave A. More specifically, this means that larger-degree wave C equals the larger-wave A x 1.00 (the same numerical distance between waves A and C), or it means that the larger-degree wave C = larger-degree wave A x 1.272 ($2,292.48), another common relationship in zigzags that is considered nearly equal as well but with a Fibonacci proportion adding a twist—this is a long way down from current levels, but remains a possible EW interpretation. In the meantime, it makes sense for experienced traders to continue to view the short side (at stronger resistance levels) as the higher probability trade. ________________________________________ Author's Comment: Thank you for reviewing this post and considering its charts and analysis. The author welcomes comments, discussion and debate (respectfully presented) in the comment section. Shared charts are especially helpful to support any opposing or alternative view. This article is intended to present an unbiased, technical view of the security or tradable risk asset discussed. Please note further that this technical-analysis viewpoint is short-term in nature. This is not a trade recommendation but a technical-analysis overview and commentary with levels to watch for the near term. This technical-analysis viewpoint could change at a moment's notice should price move beyond a level of invalidation. Further, proper risk-management techniques are vital to trading success. And countertrend or mean-reversion trading, e.g., trading a rally in a bear market, is lower probability and is tricky and challenging even for the most experienced traders. DISCLAIMER: This post contains commentary published solely for educational and informational purposes. This post's content (and any content available through links in this post) and its views do not constitute financial advice or an investment or trading recommendation, and they do not account for readers' personal financial circumstances, or their investing or trading objectives, time frame, and risk tolerance. Readers should perform their own due diligence, and consult a qualified financial adviser or other investment / financial professional before entering any trade, investment or other transaction.
Short
by SquishTrade
165
Five Long-Term VWAPs for BTCPrimary Chart: Five Long-Term VWAPs for BTCUSD with Fibonacci Price Target SUMMARY: BTC continues to consolidate and chop in a tight range around $19,246 since mid-September 2022. This range is from $18,232 to $20,225 approximately. Each breakout move to the upside or downside has failed, confounding directional bears and bulls alike. A longer-term trading range has also been in effect since June 2022. This longer-term range can be identified as between December 2018 and March 2020 VWAPs—$17,929 to $25,486. Or a simple horizontal channel can be drawn at the highs and lows from June 2020 to October 2022, which gives virtually the same range. This 5-month range aligns to some extent with the recent month's price action, which has been in an even tighter range around the $19,246 level. Price could easily test the longer-term VWAP from December 2018 in the coming weeks. This VWAP lies at $17,929. Price could easily test the longer-term VWAP from June 2017 in the coming months. This VWAP coincides with the Fibonacci projection at $12,184 discussed as a viable target since summer 2022. Over the past four to five weeks (over a month), BTC has consolidated around the $19,246 level, which is a Fibonacci level of interest discussed in SquishTrade's prior BTC posts. For example, the following post (and its excerpt quoted below) analyze the specific trading range and how the breakout moves to the upside and downside have failed: "BTC has chopped above and below this $19,246 level quite a few times, forming a tight consolidation range between and $18,232 and $20,225 approximately. Each breakout move has resulted in a bear or bull trap that fails to follow through with a sharp reversal back to the opposite side of this level." Here is the chart posted previously showing the failed breakouts and breakdowns: So the longer-term VWAPs can help place price action in perspective. Like other indicators, they cannot be considered a crystal ball or guarantee. They just help show the broader price environment over a longer term, which can provide a little clarity. 1. The primary trend remains downward. The VWAP anchored to the all-time high remains sloped downward and well above the current price. The average buyer since the all-time high remains well under water. See the Orange VWAP on the Primary Chart. 2. Price remains under the March 2020 anchored VWAP (shown in pink) which is anchored to the pandemic-crash lows. This positioning is bearish. But this is somewhat offset by price trading above the December 2018 anchored VWAP (shown in green). Price is stuck between these two in a sideways range since June 2022. A breakout move to the downside remains a high risk. This sideways action in between these longer-term VWAPS is analogous to the price action in the past month (mid-September to mid-October 2022) showing chop in a range from $18,232 to $20,225. 3. Price remains above the longest anchored VWAPs from the 2017 low and the 2011 all-time low (using all available BITSTAMP data. Price could easily test either of these VWAPs in the coming months given the strength and severity of the downtrend from all-time highs. From a longer-term perspective, these VWAPs can be helpful to watch. 4. The measured move using Fibonacci projections results in a target of $12,184.72, which has been discussed in previous BTC posts. Supplementary Chart: Measured Move using Fibonacci Projections for Targets SquishTrade still thinks the $12,184.72 target is viable especially given that price has not reversed the primary downtrend since November 2021. BTC has shown some relative strength compared to other risk assets (e.g., equity indices) by trading in a chop range sideways while the other assets have plummeted in the past month. But until BTC can change the structure materially to at least an uptrend at the primary degree of trend, it remains prudent to assume the current downtrend should be favored to resume at the primary degree of trend. Note that this Fibonacci projection aligns loosely with the VWAP anchored to the June 2017 low with a value of $13,604.01.
BITSTAMP:BTCUSDShort
by SquishTrade
9
GBPAUD I Potential short from reversal zoneWelcome back! Let me know your thoughts in the comments! **GBPAUD - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support! Brian & Kenya Horton, BK Forex Academy
Short
by BKTradingAcademy
15