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Pennant

GOLD - Price can continue to move up inside rising channelHi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊 A few moments ago price started to decline inside pennant, where it fell to support line, breaking support level. Soon, price turned around and made upward impulse to resistance level, breaking $2385 level and exiting from pennant. Next, price bounced from resistance level and fell to support area, after which started to grow in rising channel. Inside channel Gold reached $2470 level, at once fell below, and then rose to resistance line of channel, breaking $2470 level. After this movement, price corrected to $2470 level, and a not long time ago started to move up. In my mind, Gold can fall to support area and then continue to move up inside rising channel to $2540 If this post is useful to you, you can support me with like/boost and advice in comments❤️
OANDA:XAUUSDLong
by WalterMoon
2
HelenP. I Bitcoin will fall to support level and then rebound upHi folks today I'm prepared for you Bitcoin analytics. A few moments ago price traded near the resistance level, which coincided with the resistance zone, and even made a fake breakout, after which rose a little higher than the resistance zone. Then price entered to downward pennant, where it turned around from the resistance line and made a strong impulse down to the trend line, thereby breaking 65450 with 56750 levels. But soon, BTC turned around and rose to the support level, which coincided with the support zone, broke this level, and made a retest. After this movement, it bounced up and some time traded, after which made a correction movement to the 56750 level and then rebounded up. Later price almost reached to resistance line of the pennant, but a not long time ago fell to the trend line, which is the support line of the pennant and at the moment it continues to trades near this line. For my mind, BTCUSDT will exit from the pennant and fall to the support level, after this price turn around and rebound up, higher than the trend line. Therefore I set my goal at 63000 points. If you like my analytics you may support me with your like/comment ❤️
Long
by FirstNameHelen
3
Euro can break resistance level and continue to move upHello traders, I want share with you my opinion about Euro. Observing the chart, we can see that the price some days ago bounced from the support level, which coincided with the support area and support line to the resistance line, forming a gap also. After this, EUR turned around and started to decline to the support line, and some time later it reached this line, breaking the 1.0865 support level. Next, EUR fell lower the support line and entered to upward pennant, where it at once made a strong impulse up to the resistance level, breaking the resistance line and 1.0865 level one more time. After this movement, the Euro turned around from the 1.1000 level and made the correction, after which it started to grow and later reached the support line of the pennant. Then price bounced up to the resistance line, thereby rising higher than the resistance level with the seller zone, but a not long time ago it dropped back to the support line, making a fake breakout of 1.1000 level. But recently price rebounded and started to grow, so, in my mind, the Euro can fall to the support line and then rebound up to the resistance line of the pennant, breaking the resistance level. For this reason, I set my TP at 1.1055 points, which coincided with the resistance line. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
2
BITCOIN - Price can leave pennant and fall to $54500 levelHi guys, this is my overview for BTCUSDT, feel free to check it and write your feedback in comments👊 Some time ago price entered to falling channel, where at once fell to resistance level and soon broke it. After this, price declined to support line and then exited from falling channel and fell lower even $54500 level. Then BTC entered to pennant, where it turned around from support line, and made upward impulse broke $54500 level again. Next, price made retest from this level and in a short time rose to resistance line of pennant and then started to decline. In a short time, Bitcoin fell to support line of pennant, where at the moment continues to trades near. I think that price can make movement up to resistance line and then bounce down to $54500 level, exiting from pennant. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Short
by WalterMoon
19
Bitcoin can rebound up from support line of pennant to 65K pointHello traders, I want share with you my opinion about Bitcoin. Looking at the chart, we can see how the price some time ago entered to range, where it at once reached a resistance level, which coincided with the seller zone and then rebounded down to the bottom part of range. After this movement, the price in a short time rose until to top part of the range, but soon turned around and started to decline inside the downward pennant. Later BTC quickly declined until to support level, which coincided with the buyer zone, thereby breaking the 68500 level and also exiting from range. Soon, the price broke the 57500 level too and dropped to the support line of the pennant, after which at once made a strong impulse up. After this movement, BTC broke the support level one more time and some time traded near this level. Next, it reached the resistance line of the pennant pattern, but not a long time ago fell back. At the moment, it trades near the support line of the pennant and I think that the price can make a small movement up first and then correct to the support line again. Next, Bitcoin will rebound up from this line, exit from the pennant, and continue to grow, therefore I set my TP at 65000 points. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
3
Buy ITC aggressively CMP 492, Target-580 within a month.Technically we see a formation and breakout of Bullish Pennant chart pattern. Also we can confirm its strength from being continuously above all the short term averages even in market downside. ITC is a star performer and our last buy call at the bottom price of 425 worked very well. At higher levels also, surprisingly again it is in buy radar after formation and breakout of a beautiful chart pattern. Last month Quant Mutual Fund bought ITC shares worth 3,669 crores. This is a big plus news as Quant MF are trending in MF industry due to their good buying decision and consistently outperforming the market benchmark returns. All the big institutions and Brokerage house already gave the target of 550 plus and technically it is confirming the same. We feel that still there is a lot of value unlocking left in this counter due to their multiple businesses working so well as compared to the peers in the respective industry and still it is just valued majorly on based of Tobacco business. Demerger going ahead is the key to value unlocking and this share can quote even value of 750-800 soon and this is not hypothetical figure but based on real possible valuation in near term as well. So, buy this stock aggressively and you might think that the stock in last month already gone up and you might wait for the dips which might cost you a good opportunity as the big hand may not give you the dips unless there is a big fall in nifty itself. With regards to Nifty, it can give strong positive contribution to nifty movement and support nifty if other nifty stocks correct.
NSE:ITCLong
by PrashantDahale
HelenP. I Euro will make correction movement and continue growHi folks today I'm prepared for you Euro analytics. Some days ago price declined to support 2, which coincided with the support zone, and even broke this level and fell to the trend line. But after this movement, the EUR turned around, entered to the pennant, and made a strong impulse up from the trend line to support 1, breaking support 2. Next, the price broke support 1, which coincided with one more support zone and even rose until to resistance line of pennant. After this, Euro turned around and fell back to support 1, and some time traded near, after which it made little correction movement below this level. Soon, the price came back and even rose to the resistance line of the pennant, but then fell to the support level. A not long time ago price rebounded from this level and exited from this pattern. So, I expect that EURUSD will make a correction movement, after exiting, and then continue to grow. Therefore I set my goal at 1.0990 points. If you like my analytics you may support me with your like/comment ❤️
Long
by FirstNameHelen
2
Bitcoin can drop to support level, exiting from pennantHello traders, I want share with you my opinion about Bitcoin. By observing the chart, we can see that the price some days ago rose in an upward channel, where it reached the support level, which coincided with the buyer zone and soon broke this level. Then BTC made a retest and at once rebounded up until to resistance line of the channel, which coincided with the resistance level with the seller zone. After this movement, the price made a little correction, after which broke the 65600 level, and some time traded near, and even made a fake breakout. Next, the price rose to 70000 points and started to decline inside the downward pennant, where it soon broke the resistance level, thereby exiting from the upward channel also. After this, BTC dropped until to support line of the pennant, breaking the 57100 level, but at once turned around and in a short time rose higher this level, breaking it one more time and reaching the resistance line of the pennant pattern. At the moment, the price trades near this line and I think Bitcoin can make movement up, thereby exiting from the pennant and then will fall to the 57100 support level, therefore I set my TP for this level. Please share this idea with your friends and click Boost 🚀
Short
by LegionQ8
6
Euro can leave pennant and continue to decline nextHello traders, I want share with you my opinion about Euro. Looking at the chart, we can see how the price some time ago started to trades inside range and at once reached the top part, after which started to decline. The price quickly fell to the 1.0815 support level, which coincided with the buyer zone, and some time traded between this level. After this, the Euro dropped lower 1.0815 level, breaking it, and also exited from the range, after which the price entered to upward pennant. In this pattern, EUR at once made a strong upward impulse from the support line to the resistance level, breaking the 1.0815 support level one more time. Next, the price broke the 1.0930 level, which coincided with the seller zone, and rose until to resistance line of the pennant, after which turned around and in a short time declined lower than the 1.0930 level, breaking it again. After this, the EUR tried to rise back, but when it entered to seller zone, it made a correction movement to support line of the pennant pattern. But a few moments ago it rebounded from this line and at the moment EUR trades near the resistance line. So, I think that the price can fall to the support line, after which bounces up to the resistance line and then continues to decline, exiting from the upward pennant as well. Therefore I set my TP at 1.0850 points. Please share this idea with your friends and click Boost 🚀
Short
by LegionQ8
6
EURO - Price can bounce down from pennant to $1.0840Hi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊 A not long time ago price started to grow inside rising channel, where it in a short time rose to $1.0940 level. Also, in channel, price formed two gaps, and when EUR reached $1.0940 level, it started to decline in falling channel. In this channel, price declined until to $1.0800 level and even made fake breakout, after which made upward impulse. As well, price left falling channel, and entered to pennant, where it rose higher than $1.0940 level, breaking it. After this, EUR soon turned around and fell to support line of pennant, breaking resistance level one more time. Now, I think that price can reach resistance line and then bounce down to $1.0840, exiting from pennant. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Short
by WalterMoon
3
Bitcoin can exit from pennant and continue to grow to 63K pointsHello traders, I want share with you my opinion about Bitcoin. Observing the chart, we can see that the price some time traded in the range, where it fell to the resistance level, which coincided with the seller zone, and then rebounded up to the top part of the range. Then BTC turned around and dropped lower than the 66700 level, breaking it and some time traded in the seller zone. Later price continued to decline inside the downward pennant, and fell until to the 55000 support level, which coincided with the buyer zone and even broke this level. Next, BTC fell to the support line of the pennant, turned around, and in a short time rose to the 55000 level, broke it again, and continued to grow. But a not long time ago it made a correction to the support line of the pennant and then rebounded up to almost the resistance line, where at the moment continues to trades near. In my opinion, Bitcoin can make small movement down and then rebound up, higher than the resistance line, exiting from the pennant pattern. For this case, I set my TP at 63000 points. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
3
Bearish Signals on AluminiumAluminium versus the USD (ticker: XAL/USD) has traded southbound since reaching a high of $2,800, limited between a descending channel (extended from $2,800 and $2,475). Adding to the bearish vibe, price action manoeuvred below trendline support, taken from the low of $2,110, and retested the underside of the ascending line to form resistance. What also might interest technical analysts is the head and shoulders top pattern (head at $2,800), which was completed in mid-July (neckline breached). Price has yet to reach the pattern’s profit objective at $2,131, therefore, further underperformance could be seen for the base metal this month. In addition to this, you may acknowledge the potential for a bearish pennant pattern to form (drawn from the high of $2,321 and $2,206).
FPMARKETS:XALUSDShort
by FPMarkets