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Bullish Pennant

CANOPY - Possible BULLISH Pennant breakout to new highs of $80Trying my beginners luck on my first post on stocks. I've been watching price action for Canadian weed stocks the past few months and it is now finally breaking out of bearish bias, especially Canopy. BEFORE entry, please look for confirmation on candlestick patterns or price action at important S/R lines. If this chart helped at all, leave a like or follow. I would love any feedback/advice about my chart to correct any of my mistakes and learn more about TA. DISCLAIMER: Not a financial advisor, I don't suggest using my ideas for your own as I am a complete amateur for TA. Good luck to everyone!
TSX:WEEDLong
by pjgonzales
Bullish pennant on LINK, could aim for higher levels.LINK/BTC is currently within a bullish pennant/triangle formation, and it could look to move higher. It is nearing the end of this triangle, and we could see it move with conviction whichever way it breaks. Given the prior trend is bullish, I lean toward this being a bullish continuation pattern. If Bitcoin decides to decisively move either way, it can ruin the party pretty quickly for LINK. Also, if anyone wants to get a free stock from Robinhood, feel free to sign up using my referral link below. They also offer feeless cryptocurrency trading on a select few coins if you're in an approved state. I'll put an article down below for those interested in Robinhood crypto. I also accept BTC donations if you guys are feeling generous! :) Entry: 11350-11750 Target 1: 15000 (Previous top.) Target 2: 16500 (Mid-way point between the previous top at 15000 and the estimated measured move.) Target 3: 18000 (Estimated target of the break-out by taking the measured move.) SL: 10500-10750 depending on risk. -This is not financial advice. Always do your own research and own due-diligence before investing and trading, as for investing and trading comes with high amounts of risk. I am not liable for any incurred losses or financial distress. Robinhood crypto article: support.robinhood.com
Long
by Deftsuo
PT.Sat NusaPersada,Tbk Bullish Pennant Come AcrossHello Guys, today i'm gonna charting on $PTSN indonesian stock. it's recent huge gains with almost 600% up in recent months because of it's company fundamental good news which is the company prime export it's smarthome routers to United States according to the last month company news. it's wireless routers can support the realization of smarthome connection that requires high data bandwidth. and also the latest news from $PTSN is the cooperation of a Taiwan-based iPhone manufacturer, Pegatron Corporation, in early January 2019. let's see how $PTSN technical analysis will go, as you can see on the daily chart, it's gently forming & establishing a bullish pennant while rejected two times in 1480 correction area which i marked with yellow boxes. so i assume it will totally break the pennant soon because it's good both in technical & fundamental. if the second impulse sticking out, it will retest 2200 area which is the previous swing high area. i'm jump aboard the trade, laddering buy at 1485 - 1550 area & will laddering take profits between blue box & green box area which means on 1700 - 2200 area. but we can't make a 100% prediction on the trade,let's keep on eyes on the support area (cutloose are) at yellow & reed boxes on the chart. because the fundamental news can ruin it, like the US-China war trade & the indonesian presidential elections day on 19th april. tab like button if like my analysis :)
IDX:PTSN
by UnknownUnicorn2803452
XAUUSD | H4 | BULLISH — Back to Nursery.Analysis — XAUUSD | H4 | BULLISH Target @ 1311.50 This is the 100.00% Fibonacci. This analysis has been established through our trend-based Fibonacci. In addition to this is a classic example of a bullish pennant — a pattern every trader must memorise in Forex nursery school. The price has been in consolidation amongst the 50.0% Fibonacci; This key level has not necessarily shown much reaction yet has still proven to be a key zone. In order to fulfil our target we must close above the resisting trend-line of our pennant, We may expect a stop hunt re-testing the resistance turned support after a clear move has been made. If a rejection occurs the price shall retest the support of the pennant. Thank you.
FX:XAUUSDLong
by IBNE4BBAS
symmetrical bullpennant breakout confirmed/higher high on 4hr We wanted to see the price action rise above this horizontal purple line to achieve a higher high on the 4hr chart and with the current 4hr breakout candle we have seen just that. A great sign for the bulls. However to securely reach a higher high on the chart that really matters(the 1 day chart). We're gonna need to get price action above this pink horizontal line just above that. The breakout target of this bullflag should have us reaching that higher high no problem plus we still have the price target to reach from the green falling wedge which is slightly above that too...that helps increase the odds even though falling wedge breakouts often don't reach their full breakout targets. There's also the large tan symmetrical triangle we have been above for quite some time now odds are good we will trigger its breakout and reach its breakout target. Only thing that could stop us from getting above that pink higher high on the 1 day chart horizontal line is the fact that we haven't had a higher high on the 1 day chart since the very beginning of the bear market and they always say the trend is your friend until the end. That's also why if we do trigger a breakout here above that higher high the trend may indeed finally be starting to reverse...we will of course want to see it followed up with a higher daily low and then one more consecutive daily higher high to be certain the trend is changing....or even a capitulation plummet right after this higher high and after that follow it up with a higher high/higher low/higher high sequence on the daily chart....either way to me it feels like the end of the bear market is truly near.
BITSTAMP:BTCUSDLong
by DrDovetail
USD/JPY - Possible BULLISH Pennant formation breakout for 111USD bulls are preparing to break out of 110 by forming a bullish pennant. Waiting for price action to break out of the pennant and bounce off resistances as shown on the chart. Target is near R5 and around 110.9. If this chart helped at all, leave a like or follow. I would love any feedback/advice about my chart to correct any of my mistakes and learn more about TA. DISCLAIMER: Not a financial advisor, I don't suggest using my ideas for your own as I am a complete amateur for TA. Good luck to everyone!
Long
by pjgonzales
4hr deathcross nears…can 2 bull patterns be enough to reverse itWe currently have 2 4hr chart bull patterns forming a little falling wedge bull pennant pattern(in yellow) and a potential small 4hr inverted head and shoulders pattern....a breakup at the right point from the falling wedge pennant could give the bulls enough breakup momentum to get above the neckline of the 4hr inverted head and shoulders and even potentially trigger it...if this were to occur we could see a brief trip back up to the 3950 range. However even if this were to occur I don't think the momentum will be big enough to prevent the 4hr death cross or even flip it quickly back to a golden cross...so while both these patterns may very possibly break bullishly I think the end result is still going to be a sustained 4hr death cross and a bearish drop in price action to go with it. If they don't break bullish and it just continues to break down from here then I think we may see a double bottom bounce at the 1 week chart's 200ma around 3260 or so...if we do break upwards and hit the inv h&s target of 3950 or so there may be enough fomo generated at that point to get above the neckline of the much bigger inverted head and shoulders pattern around 4k at this point...I could potentially see this setting a huge bull trap at this point and if we did inch above the neckline I think there would be such a spike in longs that it would set the perfect bull trap for a big capitulation candle inv h&s fakeout crash from there...one that could drop to 2.8-2.9k or possibly even lower. Of course I always gotta also factor in the slim possibility however that it could actually legitimately trigger that bigger inverted head and shoulders pattern as well and take us to over 5k but that seems very improbable at this point especially with the 4hr deathcross on track to happen in the enxt 8 hours or so. Of course with crypto nothing is impossible so I can't discount the possibility entirety. Thanks for reading and understanding this is not financial advice!
BITSTAMP:BTCUSD
by DrDovetail
bitcoin bullflag looking more like a symmetrical pennant now The breakout targets are still roughly pretty close to eachother even though price action on the flag is now looking more like a symmetrical pennant. I anticipate a break upward from the pennant no later than tomorrow but possibly tonight. That will put us above the neckline of the inverted head and shoulder pattern...I'm still not completely confident we will trigger the inverted head and shoulder breakout but plan on having a smart stop loss should a fakeout occur.
BITSTAMP:BTCUSDLong
by DrDovetail
GBPUSD Long After Short Fakeout on H1So dusting off the old charts here. My Script is for entry predictions. After the H1 candles called a short twice i went down to the M30 which put in a shooting star . So i took my loses and went long 2 micros. This is the first time I've traded since early to mid summer. Went down to the M15 and got a buy signal. Went down to the M5 for closer monitoring. See flag forming. Confirm Bullish Pennant . Measure mask whip out the fibs. Notice Retracement to below bottom of where i considered above the pennant with lowest possible entry. Stack one micro. Should be a nice ride. Trendline broken and all. GBPUSD Long After Short Fakeout on H1
Long
by Germaine_Mills
1
Bull Flag and Bullish PennantFlags and pennants are continuation patterns. They are traded in the same way, but each has a slightly different shape. The terms flag and pennant are often used interchangeably. A flag or pennant pattern forms when the price rallies sharply, then moves sideways or slightly to the downside. This sideways movement typically takes the form or a rectangle (flag) or a small triangle ( pennant ), hence their names. Draw trendlines along the highs and lows of the sideways price action. The sharp price rise preceding the flag or pennant is called the flag pole. The sideways period is often followed by another sharp rise. This is where the trading opportunity comes in. Once the flag pole and a flag or pennant have formed, traders watch for the price to breakout above the upper flag/pennant trendline . When this occurs, enter a long trade. Target 1: Size of the Flag The first target of a confirmed Flag pattern can be derived using the measured move technique. The measured move target is a distance equal to the size of the flag. To measure the size of the flag, you would just take the vertical distance between the upper and the lower channel within the flag. Then you would apply this distance starting from the breakout point. Your first target is located at the end of this distance. Target 2: Size of the Pole The next target of the Flag formation equals the size of the Flag Pole. So, to get this target 2, you need to measure the vertical distance between the high and the low of the Pole. Once you get that distance, you will need to apply it to the pattern. Again, as we did with Target 1, you would apply it starting from the breakout point. Even though flags and pennants are common formations, identification guidelines should not be taken lightly. It is important that flags and pennants are preceded by a sharp advance or decline. Without a sharp move, the reliability of the formation becomes questionable and trading could carry added risk. Look for volume confirmation on the initial move, consolidation, and resumption to augment the robustness of pattern identification.
COINBASE:BTCUSDEducation
by CryptoC77
TSLA within a bullish price structure in a bearish market. TSLA seems to be one of the few stocks that is within a bullish price action structure while the rest of the market is getting smashed. This to me looks like a bullish pennant, and if TSLA can continue to hold the rising line of support and its 200 weekly MA, it could be set up to succeed as the rest of the market falls off. We can see TSLA got rejected once more off of the top of the pennant structure, and is currently holding right above a cluster of its weekly moving averages. I think there is a good possibility this will retest the bottom of the pennant structure again around 260-270, and if it can hold that rising line of support and the 200 weekly MA again, that would be incredibly bullish in my opinion. What to watch for: -Retest of the rising line of support and the 200 weekly MA around 260-270. If it holds again and starts to move back up, price could be setup to retest the top of the pennant structure, if not just outright break out to the upside. -If that rising line of support/200 weekly MA does not hold again, we could see a break-down out of the pennant, and we could TSLA drop down to the $100-200 range, if not lower. -This is not financial advice. Always do your own research and own due-diligence before investing and trading, as for investing and trading comes with high amounts of risk.
NASDAQ:TSLA
by Deftsuo