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Bearish Trend Line

Selling CableSeeing today's high test bar close rejecting a past level acting as both support and resistance within close proximity of a Fibonacci cluster (38.2% and 50%) drawn from two previous swing/cycle highs and rejecting the falling trend line for a third time highlights this end of day set up as a potential selling opportunity. Recent lower highs and lower lows signal a continuation of this new forming down trend after price failed to rally higher in the bull run up to May.
Short
by amanpaulbhogal
5
Selling a weak EUR/USDIn its prominent down trend, price continues to have pronounced consecutive cycles below the 20 ema pushing EUR/USD lower. Today’s bearish reversal bar bumped just shy of a past level, now acting as resistance, at 1.2500, and closes below 20 ema and 0.618 Fibonacci level. If a short trade does not trigger a re-entry can taken at the test of 50 ema and/or 1.2500. Entry – below today’s reversal bar Stop – above today’s reversal bar Target – once triggered, will let the trade run for price to rendezvous at 1.2000 where it’s been before Reverse set up of the same nature on USD/CHF.
Short
by amanpaulbhogal