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Kumobreakout

Bearish Triangle Break + Support/Resistance ZonesTriangle has broken multiple bars in the 1H and 2H time-frame in to Bearish signals. RSI @ 3H has turned Bearish as well. Willy @ 6H is indicating a dump in near future. I have labeled zones of varying degree of support/resistance (Green, Red, Yellow Lines) These lines were drawn with 2H, 4H, 6H, 12H time-frame modified Ichimoku Kumo Clouds (hidden). The question: where is the bottom? If price breaches the yellow line inside the red square area - we will have a medium/strong indication we have entered a new Bearish Trend - and may see a short bounce @ $1150. However, if we hit $1150 I give it very low odds of holding for long. The first likely target would be around ~$1085. This would be the bottom of the 6H Kumo cloud. If we breach this odds are extremely high for a retest of last months lows or a temporary bounce around ~$1000. We have extremely strong support in the ~$950-$975 area where we may see some sideways action for a bit. Worst case scenario is a flash drop to at minimum ~$887 (last lowest low) Now would be a good time to put in limit orders spread between $825-$890
BITFINEX:BTCUSDShort
by member00
2
USDJPY 4hr Kumo-breakI took this Kumo-break trade on the 4hr chart for usd/jpy and already moved my stop-loss to break even(where the red horizontal ray is at), I will manually move my stop-loss accordingly to the Kijun Sen. I got my eyes on the monthly resistance as profit target(monthly pivot) and i set my take profit target even with last uptrend spike. Would you still look to enter this trade¿? You can wait until price retraces to the Kijun Sen(wich is the dark blue line btw) and when it touches it and the next candle closes above, you can then re-enter for the Possible trainride. I will post a updated chart when this happens, beceause when pressing the play button on a published idea, indicators won't go with it and you wouldn't be able to see how it touched the Kijun Sen.(If i didn't post an update in the comment section, it didn't happen as hoped for), cheers.
Long
by Vranken
2