BTC bearish these days, I see its coming back towards the top of a range + trendline so i wanted to start shorting it with a partial position and will scale in further with another sell limit near the trendline itself. I have included a hedge order in the setup too as I see a potential break of 70 ma and a price level around 36,4xx and will aim to close hedge at...
I see ascending triangle so have placed buy stop above resistance because I'm anticipating the resistance level to be broken, I have a hedge order to reduce drawdown and a buy limit to scale in if it goes against me too.
USD/JPY correlation also supports this breakout idea as its showing a descending triangle
Price has come down to bottom of the range activating my buy limit, I'm anticipating it will return to the top of the range with assisted volume from US markets open. I also have a stoploss below range low
With this down-trending channel in BTC, I think shorting opportunities can be found from resistance levels and MAs. For example, it looks to be failing to hold 545xxx price region, bear targets can become the support trendline again if it carries on moving away from that resistance level.
A bearish pennant can be made out for GJ whilst a descending triangle can also be made for GU, there will also be volume coming in from Frankfurt and London openings so I think the outcome is a bearish breakout
FTSE100 shows bullish penant breakout, retest and a breach of a key resistance-level on the 4hr timeframe, GJ has made lower highs and lower lows in the small timeframes, might this signal a weakness in the pound for the coming week?