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Pennant

HelenP. I Gold will start to grow from trend line in pennantHi folks today I'm prepared for you Gold analytics. Some days ago price broke the 2320 level and fell below, but soon turned around and quickly backed up, breaking the support level again. Then Gold some time traded near this level and later fell to the trend line, after which started to grow inside the pennant. In this pattern, the price rebounded from the support level and in a short time rose to the resistance level, which coincided with the resistance area, but at once rebounded and made a small correction movement. After this, GOLD made impulse up to the resistance line of the pennant, breaking the resistance level, but a not long time ago it turned around and dropped back, breaking the 2425 level one more time. Just now, the price trades near the trend line, which is the support line of the pennant also and I expect that XAUUSD will rebound up from this line and rise to the resistance level. After this movement, the price can break this level, make a retest, and then continue to grow, even exiting from the pennant. For this case, I set my goal at 2465 points. If you like my analytics you may support me with your like/comment ❤️
OANDA:XAUUSDLong
by FirstNameHelen
1
SOL ANALYSIS🚀#SOL Analysis : 🔮#SOL is making bullish pennant pattern on the weekly timeframe💁‍♂️ The breakout of the bullish pennant pattern suggests a potential bullish move📈 Expect a bullish wave of around 30% in the coming weeks 🔰Current Price:  $156.50 🎯 Target Price:   $203.45 ⚡️What to do ? 👀Keep an eye on #SOL price action. We can trade according to the chart and make some profits⚡️⚡️ #SOL  #Cryptocurrency #TechnicalAnalysis  #DYOR
Long
by ZEUS_Market_Alerts
1
MASTERING SYMMETRICAL TRIANGLES: A GUIDE FOR TRADERS👀See the first 3 items on the chart👆 🔰Other details: ⭐D: ⭐E: ⭐F: ⭐G: 🔰Additional Considerations for Triangles: ⭐H: Number of Points: To construct a triangle, we need at least two HIGHS and two LOWS. Occasionally, triangles are formed using six points instead of the usual four. ⭐I: Validity Criterion: The BREAKOUT point (exit point) of a triangle should not be too close to the intersection of its upper and lower sides; otherwise, the triangle loses its validity.
Education
by Eldorado_Land
1
SMCI: The trigger for the next rally! (D&W charts)The SMCI chart presents a compelling case for bullish potential, highlighted by significant bullish patterns on both the daily and weekly timeframes. On the daily chart, SMCI is forming an ascending triangle, a bullish continuation pattern. This pattern is characterized by rising lows supported by an ascending trendline, while the price faces resistance at $972.44, which is its most important resistance level. The consistent formation of higher lows suggests increasing buying pressure. Recently, the price has closed near this resistance level, indicating a potential breakout. If the price successfully breaks and closes above $972.44, it would signal a strong bullish continuation. However, a fall below the ascending trendline could indicate a possible reversal or a phase of consolidation. On the weekly chart, SMCI exhibits a pennant pattern, another bullish continuation signal that forms after a significant price move. This pattern is marked by a period of consolidation with decreasing volatility, bounded by converging trendlines. The price action is currently testing the upper boundary of this pennant, suggesting a potential breakout. A break above this pattern would confirm the continuation of the bullish trend, likely leading to a substantial price increase. Conversely, failure to break above the upper trendline and a drop below the lower boundary could indicate a more pronounced pullback or extended consolidation phase. Overall, SMCI shows strong bullish tendencies supported by the ascending triangle on the daily chart and the pennant pattern on the weekly chart. Both patterns suggest further upward movement if key resistance levels are broken. Traders should monitor these levels closely for a confirmed breakout to validate the bullish outlook. Failure to break these resistance points might lead to short-term consolidation or pullbacks to support levels. For more detailed technical analyses and insights like this, be sure to follow my account. Your support helps me continue providing valuable content to help you make informed trading decisions. Remember, real trading is reactive, not predictive, so let's stay focused on the key points described above and only trade when there is confirmation. “To anticipate the market is to gamble. To be patient and react only when the market gives the signal is to speculate.” — Jesse Lauriston Livermore All the best, Nathan.
NASDAQ:SMCI
by Nathan_The_Finance_Hydra
Contrarian or Bear?Bullish Pennant: A pennant on the BTC/USD weekly chart suggests a potential continuation of the uptrend after a consolidation period. This could be bullish. Bearish Market Sentiment: However, the overall crypto market sentiment is bearish, which can create conflicting signals. Buying Opportunity?: Traditionally, a pennant breakout during a bearish market can be a good buying opportunity for contrarian investors who believe the sentiment is overly pessimistic. Target and Risks: Target: The pennant's target could potentially reach $100,000. Risk: If the pennant pattern fails, Bitcoin could revisit the low $50,000 area, which is a significant downside risk. Here are some additional points to consider: Technical Analysis Limitations: Technical analysis is not a perfect science, and past performance doesn't guarantee future results. Market Volatility: The cryptocurrency market is highly volatile, and prices can fluctuate rapidly. Fundamental Analysis: Consider fundamental factors that might influence Bitcoin's price, such as upcoming regulations, adoption rates, and technological advancements. Overall: The situation presents a potential opportunity with some calculated risk. Here's what you can do: Do Your Research: Analyze the pennant pattern, market sentiment, and relevant news affecting Bitcoin. Consider Risk Tolerance: Only invest what you can afford to lose, given the potential downside. Diversification: Don't put all your eggs in one basket. Consider diversifying your crypto portfolio.
BITSTAMP:BTCUSDLong
by ParabolicP
1
Gold can rebound from resistance line of wedge and start declineHello traders, I want share with you my opinion about Gold. Observing the chart, we can see that the price not long time ago price traded between the support level, which coincided with the buyer zone, and then made a strong impulse up to the resistance level. When the price reached the 2415 level, it broke it and rose a little higher than the seller zone, but soon turned around and quickly declined lower that the 2415 level, breaking it, inside the pennant pattern. Price some time traded in the pennant and then rose until to the resistance line of the pennant and then bounced down to the support line. After this movement, the price in a short time rose from the support line to the resistance line and exited from the pennant pattern. Next, Gold entered to wedge pattern, where it at once made a correction from the resistance line to the support line, after which turned around and started to grow. In a short time later price reached the resistance level, and tried to break it, but failed and now trades below. In my opinion, Gold can enter to seller zone, where it reaches the resistance line of the wedge and then rebound down to the support line of this pattern. As well, the price can break this line and continue to decline, exiting from the wedge. For this case, I set my TP at 2360 points. Please share this idea with your friends and click Boost 🚀
FOREXCOM:XAUUSDShort
by LegionQ8
3
HelenP. I Bitcoin will make small move down and then start growHi folks today I'm prepared for you Bitcoin analytics. A not long time ago price declined to the resistance level, which coincided with the resistance zone, and some time traded inside, after which rebounded up to 63900 points. After this movement, the price turned around and started to decline inside the downward pennant, where it soon broke the resistance level and fell firstly to the support level, which coincided with the support zone. Soon, BTC broke the 55400 level and fell to the trend line, but then it at once rebounded and rose back, making a fake breakout of a support level. Then price rose a little more and made a correction to the support zone. After this movement, BTC rebounded and rose to the resistance line of the pennant and recently exited from this pattern. Also, it made a retest and now I expect that BTCUSDT will make a small movement down and then start to grow to the resistance level. That's why I set my goal at the 60700 level. If you like my analytics you may support me with your like/comment ❤️
Long
by FirstNameHelen
12
GOLD - Price can exit from wedge and fall to $2320 pointsHi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊 Some days ago price entered to pennant, where it bounced from resistance level and rose to resistance line of pennant. After this, price made downward impulse lower $2375 level, breaking it and then rose to this level again. Price fell to support line of pennant, after which in a short time rose to almost resistance level, exiting from pennant. Then price started to trades inside wedge, where it first declined to support line and then bounced up to $2375 level. Gold made a fake breakout of this level, after which started to decline, and now it trades near support line of wedge. Possibly, Gold can rise to resistance level and then bounce down to $2320, exiting from wedge. If this post is useful to you, you can support me with like/boost and advice in comments❤️
OANDA:XAUUSDShort
by WalterMoon
3
Gold can break support level and fall to support line of channelHello traders, I want share with you my opinion about Gold. By observing the chart, we can see that the price made impulse down from the resistance line of the pennant lower than the current support level, which coincided with the support area, thereby breaking it. After this, the price some time traded and then rose back to the support area, where it reached the resistance line of the pennant and then rebounded down to the support line, breaking the 2310 level, but soon Gold rose higher this level, breaking it one more time. Then it in a short time rose to the resistance line of the pennant, turned around, and fell to the support line, after which the price exited from the pennant pattern and declined to lower the 2310 level again. But then Gold started to grow inside the upward channel, making a fake breakout of the support level, which coincided with the buyer zone and later it rose to the current support level. A not long time ago, XAU broke this level and now it trades very close to the 2390 level, near the resistance line of the channel. For this case, I think that the price can make a small correction movement, and then reach the resistance line, after which starts to decline to the support line of the channel, breaking the support level. So, that's why I set my TP at 2360 points, which coincided with the support line of the channel. Please share this idea with your friends and click Boost 🚀
FOREXCOM:XAUUSDShort
by LegionQ8
5
GOLD - Price can bounce from resistance area and continue riseHi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊 Recently price declined to support level, which coincided with support area, and at once started to grow. In a short time, Gold reached $2360 level and even entered to resistance area, but soon bounced down. Also, price entered to pennant, where it declined from resistance line to support line, after which started to rise. Price broke $2310 level and later exited from pennant, after which in a short time reached $2360 level again. A not long time ago Gold broke this level and now trades in resistance area, so, I think it can make little correction. After this, price will turn around and continue to move up to $2395 If this post is useful to you, you can support me with like/boost and advice in comments❤️
OANDA:XAUUSDLong
by WalterMoon
2
Pennant formation on PATELENGPATELENG formed a Pennant chart pattern on daily chart. Multiple support and resistance were tested before the breakout. On the breakout day there was above average volume pushing the price higher. Looking at the current price level seems ideal time to enter with stop loss just below the breakout candle and target the width of the Pennant. This trade offers ideal risk reward of 1:2 or probably higher depending on how the trade moves. Would be good if you have a trailing stop loss based on where price takes support next. Hope you like this idea. If you like, please boost this idea or leave a comment below on what you think. Otherwise, happy trading :-).
NSE:PATELENGLong
by digijagan
Nasdaq 100 at All-Time Highs Following the completion of a bullish pennant pattern, taken from 19,977 and 19,472, the Nasdaq 100 ended Wednesday’s session refreshing record highs of 20,186. Bullish pennant patterns CAN form in the direction of the underlying trend in strong upward markets (this is not a rising wedge as these are typically longer-term structures). While a retest of the recently breached upper boundary could be seen (arrows), the current pattern formation and the underlying strength of the trend in this market suggest further buying could take place towards the bullish pennant pattern’s profit objective at 20,558.
TVC:NDQLong
by FPMarkets