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Pennant

Identifying a Bullish Pennant on Meta's 1-Day ChartThis lesson examines a potential bullish pennant forming on Meta Platforms Inc. (META), formerly Facebook, on its 1-day chart. What is a Bullish Pennant? A bullish pennant is a continuation pattern in technical analysis that suggests an asset's price is consolidating after a strong upward move. It's characterized by two converging trendlines, forming a pennant shape. The target price for a bullish pennant breakout is typically the height of the pennant added to the breakout point. Identifying the Bullish Pennant on Meta's Chart: On Meta's 1-day chart, we can observe: Price Consolidation: Following a significant price increase, the price appears to be trading within a narrowing range between two converging trendlines. This consolidation phase suggests a potential pause before the uptrend resumes. Target Price: By measuring the height of the pennant (the vertical distance between the trendlines), we can estimate a potential target price upon a breakout. Adding this height to the breakout point (the price where the price decisively breaks above the upper trendline) provides a preliminary target. In this case, a breakout above the resistance level could suggest a target price of $690 Important Considerations: Confirmation from Other Indicators: While a bullish pennant is a positive technical signal, it's not a guarantee of a price increase. Look for confirmation from other technical indicators like: Volume: Increasing volume on the breakout can strengthen the bullish case. Moving Averages: A rising 50-day or 200-day moving average can indicate an underlying uptrend. Relative Strength Index (RSI): An RSI value below 70 on the breakout suggests the stock isn't overbought, potentially allowing for further price appreciation. Market Context: Consider any recent news or events that might be impacting Meta's stock price. Positive news can fuel the breakout, while negative news could hinder it. Support and Resistance Levels: Identify key support and resistance levels on the chart. A breakout above a resistance level is more significant if it's accompanied by increasing trading volume. Target Price: The target price based on the pennant pattern is an estimate, and the actual price movement could deviate significantly. Conclusion: The potential bullish pennant on Meta's chart suggests a possible continuation of the uptrend. However, it's crucial to use this information alongside other technical indicators, fundamental analysis, and proper risk management practices before making any investment decisions.
NASDAQ:META
by ParabolicP
3
Pennant on LAURSLABSLAURSLABS formed a Pennant on weekly chart. Price had a good runup prior to formation of pattern with high volume. It also had low volume upon formation of Pennant (i.e. during consolidation). Breakout has happened with above average volume as well. Entry is just above today's high with stop loss just below today's low. This setup has an ideal risk reward ratio. A typical text book setup. Hope you like this analysis. If you like this idea please boost this idea or leave a comment below on what your view is. I'll be happy to hear from you. Otherwise, happy trading :-)
NSE:LAURUSLABSLong
by digijagan
Bitcoin can correct to support line and then make impulse upHello traders, I want share with you my opinion about Bitcoin. A not long time ago price rebounded from the support level, which coincided with the support area, and in a short time rose to 69000 points, after which turned around and made a strong downward impulse to lower the 64800 level, breaking it. After this movement, BTC started to trades in an upward pennant, where rebounded from the support line and quickly rose to 68200 points, breaking the support level again, but soon price repeated a downward impulse and fell back to the support line, breaking the 64800 support level one more time. Soon, BTC started to grow and in a short time reached the support level, broke it, and finally continued to move up to the resistance level, but firstly it made a retest of the support level and only then continued to grow. When the price reached a resistance level, which coincided with the seller zone, BTC broke it, and some time traded in this zone, after which made a small correction below. Later price rose to the resistance line of the pennant, after which rebounded down, and at the moment price trades very close to the resistance level. For this case, I think that Bitcoin can make a correction movement to almost the support line and then the price will impulse up a higher resistance line and 70500 level, thereby exiting from the pennant. After this, I think BTC will continue to grow to 72500 points. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
ICP Road Map🗺️!!! situation+next targets.Hi. COINEX:ICPUSDT Today, I want to analyze ICP for you in a 3D time frame so that we can have a mid-term view of ICP regarding the technical analysis. (Please ✌️respectfully✌️share if you have a different opinion from me or other analysts). Bullish pennant is on the table on 3D timeframe🔍 Looking for a break out and more upside📈 ✅ Due to the Ascending structure of the chart... - High potential areas are clear in the chart. - AB=CD - Ascending pennant Stay awesome my friends. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ ✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟! ⚠️Things can change... The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
Long
by CobraVanguard
1
Avax to $88 waiting for breakoutPopular EVM compatible coin AVAX BINANCE:AVAXUSDT has been forming a bullish pennant on the 12 hour timeframe. Recently a number of AVAX based meme coins have done well seemingly in response to AVAX coin’s performance. According to data from coin gecko.com, the price of Avax has risen by 37.9% in the last 30 days and is up 228% over the last one year. Still this coin is down 55.7% from it’ all time high and a return to this valuation would be a 122% gain in price. Wait for a bullish breakout from this pennant or a breakout plus retest to confidently trade this upwards with an initial or short term target just above $85. Happy Trading! If you found this trade idea helpful in anyway kindly support my work by leaving a thumbs up, boost and/or sharing this post with your Crypto bros. To make sure you’re one of the first to get notified when I share a new trade idea, consider following my account. Happy Trading!
Long
by theblueinvestor
1
✴️ Tariq Glass Entering New Long-Term Bull-MarketTariq Glass is currently maintaining its support level at 98 for the past week, representing a 38.2% Fibonacci retracement from the 106 level. Additionally, the stock has reached the breakout level of a descending trend line, signaling a robust bullish breakout. Furthermore, it has surged above the EMA50 indicator in the ongoing session. Consideration of long positions is advisable within the range of 100-98. Following the breakout from the trend line, the initial target is positioned at 104, with a secondary target at 106. Conversely, in the event of a downside breakout, employing a stop-loss strategy at 95 is recommended to mitigate risk exposure.
PSX:TGLLong
by mbaberhanif
Link still on track.LINK/USD 2hr chart shows a potential breakout from a wedge pattern with a target of $21. A break above $18.70 can trigger breakout. The LINK/USD 2hr chart shows an interesting development with a potential breakout from a wedge pattern. The price has broken above the resistance trendline and could potentially reach the target of $21 based on the measured move technique. However, this is not a prediction, and other factors could influence the price action. What are your thoughts on this potential breakout and its implications? Remember, this is for educational purposes only, and you should always do your own research before making any investment decisions.
COINBASE:LINKUSDLong
by ParabolicP
4
Binance Coin can exit from pennant and decline to 515 levelHello traders, I want share with you my opinion about Binance Coin. Looking at the chart, we can see how the price some time ago declined to 515 support level, which coincided with the buyer zone and at once rebounded and started to move up. Soon, the price reached a resistance level, which coincided with the seller zone and broke it, after which BNB rose a little and then made a correction below this level. Next, the price broke the 587 level again and later rose to 645 points, after which it turned around and started to decline in a downward pennant, where soon broke the resistance level one more time. After this movement, BNB made a retest of the resistance level and in a short time declined to the buyer zone, which later reached the support line of the pennant. Then price rebounded from the support line and rose to the resistance line, which coincided with the resistance level, but a not long time ago BNB rebounded and fell to the support line, which continues to rise near to this day. So, I think Binance Coin can reach the resistance line, after which turns around and starts to decline to the support level, thereby exiting from the pennant. For this case, I set my target at the 515 level. Please share this idea with your friends and click Boost 🚀
Short
by LegionQ8
2
📉 Bitcoin's Bear Pennant Breakout: Measured Move to $59200 withAbstract: 🐻 Bitcoin is poised to break from a 4-hour bear pennant pattern, signaling a potential move to the $59200 area. 📈 This analysis explores the implications of this breakout, which aligns with the Shibunacci indicator, offering additional confirmation. 🔄 Introduction: Bitcoin's imminent breakout from a 4-hour bear pennant suggests a shift in market dynamics. 📉 Traders are anticipating a measured move towards the $59200 region, reinforced by confluence with the Shibunacci indicator. 🔍 Bear Pennant Breakout: The bear pennant formation on the 4-hour chart indicates a period of consolidation followed by a potential downward continuation. 📉 Bitcoin's price action within this pattern sets the stage for a decisive breakout, with implications for future price movements. 📊 Measured Move Target: Applying the measured move technique to the bear pennant's height suggests a target around the $59200 area. 🎯 This level serves as a focal point for traders monitoring Bitcoin's price trajectory, offering potential entry and exit opportunities. 💰 Shibunacci Indicator Confluence: The alignment of the breakout target with the Shibunacci indicator adds further conviction to the bullish thesis. 🔍 Traders utilizing this indicator may find additional confirmation of Bitcoin's upward potential, enhancing their trading decisions. 💡 Conclusion: Bitcoin's impending breakout from the 4-hour bear pennant pattern, with a measured move target to the $59200 area, presents opportunities for traders. 🚀 The confluence with the Shibunacci indicator reinforces the bullish outlook, providing a comprehensive perspective for informed trading strategies. 📈
INDEX:BTCUSDShort
by Shibunacci
2
Bitcoin can exit from pennant and then continue to fallHello traders, I want share with you my opinion about Bitcoin. If we look at the chart, we can see how the price a no long time ago and started to trades in the range, where it rebounded from the resistance level, which coincided with the resistance area, and the bottom part of the range, started to rise to the top part. After BTC reached the top part of the range, it turned around and started to decline in a downward pennant, where soon BTC fell to the resistance area, but at once backed up to range, making a fake breakout of the 68000 level. A short time later price finally broke the 68000 resistance level, thereby exiting from the range and declining lower than resistance area, but then it tried to back and failed. Bitcoin declined to support line of pennant, after which it at once rebounded and rose to the resistance line. After this movement, the price turned around and soon declined to support line of the pennant, which continues to trades near. In my mind, Bitcoin can exit from the pennant and continue to decline. So, that's why I set my target at the 61100 level. Please share this idea with your friends and click Boost 🚀
Short
by LegionQ8
5
Gold can leave pennant, break support level and then make retestHello traders, I want share with you my opinion about Gold. Looking at the chart, we can see how the price recently traded in the buyer zone, where XAU soon reached the 2040 support level and broke it. After this movement, the price made retest and then started to trades in an upward pennant, where firstly Gold made a strong impulse up to the current 2150 support level, which coincided with the support area. After this, the price broke this level and rose to the resistance line of the pennant, but at once turned around and in a short time declined to the support level. Soon, the price turned around and some time traded between the resistance line and this level, and last time Gold fell to the support line of the pennant, where at the moment trades very close. So, in my mind, Gold can exit from the upward pennant, break the support level, and then make a retest. After this movement, I think also that XAU can continue to decline, therefore I set my target at the 2110 level. Please share this idea with your friends and click Boost 🚀
FOREXCOM:XAUUSDShort
by LegionQ8
2
Stellar XLM The biggest Moon 14.00 +XLM BULL PENANT/FLAG This is just and idea. Why so stagnant? For years after years in regards to new ATH?! Because the pole upwards is coming! XLM has been working and building in the background. Lately with the new Soroban contracts phasing out. XLM is becoming a Real World Assets commodity. The project and foundation has kept an ear to the damn US government in regards to compliance and regulation. In price action terms XLM is considered dead because it’s brewing up ready to blow off. Don’t be deterred nor discouraged. I believe we are in a super cycle. If the pole breaks upwards and you held, though you may have traded the last bull run. You have to hold XLM’s bottoms on the pennant/flag. The highest hopium is the highest risk. If it pays off, you’re rich.
COINBASE:XLMUSDLong
by Samabby
1
Again another bearish pattern we add to the volume of shortPrevious Trade Trading Setup: A Trading Signal is seen in the FLOKIUSDT FLOKI (1h) (Futures) Traders can open their Sell Trades NOW ⬇️ Sell now or sell on 0.00020805 ⭕️SL @ 0.000241 🔵TP1 @ 0.000129 🔵TP2 @ 0.0000925 🔵TP3 @ 0.0000590 What are these signals based on? Pattern Trading Classical Technical Analysis Price Action Candlesticks Fibonacci RSI, Moving Average , Ichimoku , Bollinger Bands Risk Warning Trading Forex, CFDs, Crypto, Futures, and Stocks involve a risk of loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future results. If you liked our ideas, please support us with your likes 👍 and comments .
Short
by pullbacksignal
HelenP. I Gold can exit of pennant and try break support levelHi folks today I'm prepared for you Gold analytics. A few times ago price declined to the support zone, after which it at once rebounded up, thereby making a fake breakout of support 2. Then XAU some time traded near this level, after which it repeated movement down, below support 2 and in a short time backed up and started to grow. Later Gold entered to pennant, where it rebounded from the trend line and made impulse up to support 1, which coincided with one more support zone. Soon, the price broke this level and rose to the resistance line of the pennant, after which the price turned around and declined to the support zone. In this zone, the price some time traded, and a not long time ago Gold rebounded and started to move up. For my mind, Gold will rise to the resistance line of the pennant, after which it turns around and declines to the support level, thereby exiting from the pennant. Then, I think XAU can try to break the support level, make a retest, and continue to decline. For this case, I set my target at the 2110 level. If you like my analytics you may support me with your like/comment ❤️
OANDA:XAUUSDShort
by FirstNameHelen
2