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Bullflags

Bullish Pennant?Possibly a descending triangle? A pennant is a continuation pattern in technical analysis formed when there is a large movement in a security, known as the flagpole, followed by a consolidation period with converging trend lines - the pennant - followed by a breakout movement in the same direction as the initial large movement, which represents the second half of the flagpole. Pennants are continuation patterns where a period of consolidation is followed by a breakout. It's important to look at the volume in a pennant—the period of consolidation should have lower volume and the breakouts should occur on higher volume. Most traders use pennants in conjunction with other forms of technical analysis that act as confirmation. Pennants, which are similar to flags in terms of structure, have converging trend lines during their consolidation period and last from one to three weeks. The volume at each period of the pennant is also important. The initial move must be met with large volume while the pennant should have weakening volume, followed by a large increase in volume during the breakout.
CSE:TNYLong
by ScotianBot
XRP Looks very bullish to meA nice bull flag formed in side the trading channel previously post. Not retested the support line @ .2340 either and WELL above the 200 MA. The most positive thing about the price action is it's ability to hold on to the price rise, then consolidate. Haven't seen this kind of price action for a considerable time. Bull market underway......I can see us nudging the .2810 resistance level before the end of February. Happy trading everyone, good luck to you all.
BITFINEX:XRPUSDLong
by AZEB1A
Ethereum gaining altcoin dominance?Hello All, So far, as we have seen this current market, Ethereum--previously a strong performer-- has been under performing, however, it has a strong pattern here with the chance of a classic failure swing, as the second bottom could not approach the original bottom as closely. This failure swing is denoted by the yellow strokes on the chart. There is a broadening wedge which I have been following for several months, and so far, following this pattern has been very fruitful. But, now the price action appears to be consolidating just above an important support and one of the strongest resistance trendlines for Ethereum since the move to 360. The price objective of this broadening wedge is approximately 250 which would place ETH just above a strong resistance region. We are looking for strong movements above the resistance trendline which is in magenta or purple, after there maybe a retest of the breakout, otherwise, I believe price will power through to close to 250 with very little consolidation opportunities. Currently, there is a small flag just under the resistance, and 179 is a strong support region; there is an extremely low probability for ETH to fail this breakout, and if it does, there is a great opportunity for good risk management. Also, giving me a like and a follow will help motivate me to post more! Best of luck and Stay Technical! Previous Analysis:
COINBASE:ETHUSD
by CuddlyCuddles
Cup & Handle Confirms. Daily Golden Cross Expected to Follow.Disclaimer: If you are primarily interested in copying other people’s trades then this is not for you. However, if you are willing to put in the work that it takes to learn how to trade for yourself then you have found the right place! Nevertheless please be advised that you can give 10 people a profitable trading strategy and only 1-2 of them will be able to succeed long term. If you fall into the majority that tries and fails then I assume no responsibility for your losses. What you do with your $ is your business, what I do with my $ is my business. Sawcruhteez Strategies: How to BUY THE DIP | Advanced Dollar Cost Averaging Methods EMASAR: Buy $8,158 50 & 200 EMA’s 15m: Bullish 1h: Bullish 4h: Bullish D: Very close to getting a golden cross after pulling back and into the 200 EMA: 4 & 9 EMA’s W: Patterns Cup and Handle is confirmed. Target is $11,675 (pictured above) Bear channel is broken: Button Bottom: Bull Flag with $10,550 target: Horizontals Trendlines Daily: 1h: Futures Curve Contango with 3.76% spread Funding Rates Longs pay short 0.0238% TD Sequential 4h green 2 Daily green 3 Weekly green 4 Ichimoku Cloud Have recently reentered weekly cloud Daily C Clamp is a cause for concern Conclusion: The Bitcoin chart is starting to look quite bullish if you ask me. We have been reclaiming some major levels and confirming some major patterns. The Wyckoff is playing out very nicely. It seems we are finishing the final stages of markup from that pattern while confirmed some new ones. Featured is the cup and handle and she is a beaut. As we were recently pulling back I was holding my breath that the 200 D EMA would hold as support. That put us in an excellent position to get a daily golden cross and it also established the handle of this bullish pattern. That support from the 200 D EMA also appears to have been enough to breakthrough the 6 month bear channel. This post is marked long because a couple bullish patterns recently confirmed and I do believe that we will reach the targets. That being said I am not buying this level, at least not right now. This is a major area of resistance and I do not like entering when price retests resistance on the way up. Instead I prefer buying when price retests that level for support. I am looking to add even though I am still holding onto 100% of the long position that I established at $7,950. My stop loss is now in break even territory which means I can establish more exposure without risking more than the original 2% of my bankroll. If price does retest the $10,000 level in the next week then I will definitely be setting my sights on buying a pullback to $9,400. If you are asking why I don’t buy that price right now then read this again. The TD Sequential is in a healthy position and that leads me to believe that the most likely outcome by this time next week is reexploring the five figure threshold. PS: The halving is only 104 days away : )
BITSTAMP:BTCUSDLong
by Sawcruhteez
5
Is TNY trading in a Bull Flag?Since my previous two post about TNY trading in a bullish flag pattern & a ascending triangle; which both broke out to the upside, it appears as though Tinley is trading in another Bull Flag that may bring us over the 200 Day MA, and there's also a series of micro higher lows. Only time will tell, but notice on the rsi TNY appears to have a bearish divergence? Divergence can occur between the price of an asset and almost any technical or fundamental indicator or data. Though, divergence is typically used by technical traders when the price is moving in the opposite direction of a technical indicator. Positive divergence signals price could start moving higher soon. It occurs when the price is moving lower but a technical indicator is moving higher or showing bullish signals. Negative divergence points to lower prices in the future. It occurs when the price is moving higher but a technical indicator is moving lower or showing bearish signals. Divergence isn't to be relied on exclusively, as it doesn't provide timely trade signals. Divergence can last a long time without a price reversal occurring. Divergence is not present for all major price reversals, it is only present on some.
CSE:TNYLong
by ScotianBot
Akorn Inc. LongThe price of akorn inc. recently dived due to the news of possible bankrupcy, in addition to a Head and Shoulders pattern. Price has most likely reached its low and will likely impulse in a new continuation, confirming the Bull Flag. Price has also hit the bottom of a high time frame expanding structure and will likely go a lot higher. Many sites and analysts indicate that the stock is underpriced, good short/medium term hold, but is something of a risky trade. First target will be around 25%.
ALong
by spotlars
Is EXP trading in a Bear Flag?Or possibly a bull flag, but currently EXP is trading at all time lows & down -90% since late 2017 highs, so there's merit for a contrarian bottom fishing buy here. I recently bought one of their premium flower brands "Citizen Stash Mac-1" & its THC content is 25.6%, which is the highest I've seen on the legal rec Canadian market & I've been in dispensaries all across the country legal & illegal for the past 5 years. For comparison, Aphria's Broken Coast brand has been my favorite on the legal rec market in Canada & has won top awards at the Canadian Cannabis Awards, but the highest THC content I've seen is well under 20% with an average of roughly 16% for each of premium Indica strains like Gabriola, Quadra & Stryker. I've noticed the Stargazer Sonora has a 24.9% thc content on Aphria's website, but I don't like Sativa & I've yet to see it in dispensaries. Anyway, if EXP can get the Mac-1 & other newer strains under the Citizen Stash Brand in dispensaries across Canada they will easily become the #1 premium flower on the market, and potentially become a buyout target from much larger LP's looking to find premium flower brands that are selling to add to their portfolio. citizenstash.com
ELong
by ScotianBot
Is Namaste trading in a bull flag?Or possibly a descending triangle, only time will tell. This recent move was likely an insider privy to information about a company N is invested in, "Choklat" receiving a processing licence. BUY the rumor & SELL the news, next week is the best time to exit this trade before there's even further capitulation to the 18c & 13.5c range. In the grand scheme of things, this little rally is probably going to be another lower high, N is still down -87% since September where Andrew Left exposed this company for what it was, and still is, IMO, trash..
NShort
by ScotianBot
Canadian Dollar unwind fuelled by slower growth + oilCAD Update: Slowing growth with added bonus of cheaper oil - Commodity linked currencies taking a hit from US de escalation of US/Iran tensions. Rhetoric confirmation over the coming weeks will fuel our short bias across energy and CADxxx markets. - Poloz to confirm cautious outlook following slowing economic growth data (recent contraction in growth *-0.1% for the first time in 8 months) should see flow on effects in rates markets and a subsequent re pricing in CAD - Larger corrective structure and bull flag has completed with a bottoming out should see an impulsive leg up through to 2017 highs. We would like to see some bullish conviction through 200DMA. - +5.00% move on the table toward our sellside targets. - Sensitivity remains to the upside from here. We have added bullish exposure to our macro & directional portfolios.
Long
by Portier
1