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Pennant

Pennant Pattern on HINDPETROHINDPETRO formed a Pennant pattern on daily chart. Multiple support and resistance levels were tested with aggressive buyers seen in the last swing before the breakout. Also there was a spike in volume on breakout day indicating strong buyers out there. Stop loss can be held just below the breakout candle with target the width of the broader triangle. Risk reward is ideal with 1:2.8 Hope you liked this idea, if so please boost this idea so others could benefit or leave a comment on what you think. I'll be glad to hear from you. Otherwise happy trading :-)
NSE:HINDPETROLong
by digijagan
Pennant - EUHere I have EUR/USD on the 4 Hr Chart! Price made a good push to the Upside surpassing the Highs earlier this month but then getting caught up by the Highs of April Currently Price is bouncing back and forth between the Falling Resistance and Rising Support. Potential False Break zones for both Resistance and Support are marked by the High and Low Points starting the pattern! Pennants are patterns where the fight between Bears and Bulls is equal and eventually one will win out the other, this will be followed by a STRONG, CONVINCING Break of Pattern and Close to Validate the movement. Fundamentally this week for both EUR and USD will be Flash Manufacturing & Services PMI being released Thursday! As Indicators go: -Above 200 EMA -DSR Assist -Above 50 RSI -Super Nova Layout +3
by Novi_Fibonacci
HelenP. I Euro will make small move up and then start to fallHi folks today I'm prepared for you Euro analytics. A few moments ago price broke the support level, which coincided with the support area and fell to the trend line. After this movement, it turned around and started to trades inside the upward pennant, which soon rose to the 1.0760 level. Also then, EUR broke this level, made a retest, and then continued to move up to support 1, which coincided with the resistance zone. When the price reached this level, it broke and rose higher even the resistance zone to the resistance line of the pennant. After this move, EURUSD made a correction a little below support 1, after which in a short time rose back to the resistance line of the pennant, but soon turned around and started to decline. In a short time, it fell to the trend line, which is the support line of the pennant, breaking the 1.0850 level. But recently Euro rebounded up and broke this level again and now it continues to trade inside the resistance zone in an upward pennant. For my mind, EURUSD will rise to the resistance line of pennant and then start to decline to the trend line, breaking the support level. So, for this case, I set my goal at 1.0830 points, which is located a little below the trend line. If you like my analytics you may support me with your like/comment ❤️
Short
by FirstNameHelen
5
Gold can continue to decline to support levelHello traders, I want share with you my opinion about Gold. Observing the chart, we can see that the price some time ago declined to 2157 points, but at once turned around and started to grow inside the upward pennant, where it soon reached the 2280 support level, which coincided with the support area. Soon, Gold broke this level and continued to grow to the resistance line of the pennant, which coincided with the resistance level with the seller zone too, but at once rebounded, after reaching this line, and made a correction movement to support line of the pennant pattern. Next, the price exited from this pattern and fell almost to the support level, where it turned around and started to rise inside the upward channel. In this channel, in a short time rose to a resistance level, and even entered to seller zone, leaving the channel. But a not long time ago Gold turned around and made a strong downward move from the seller zone, making a fake breakout of 2430 level. Now, in my opinion, the price can continue to decline to the 2280 support level, therefore I set my target at this level. Please share this idea with your friends and click Boost 🚀
FOREXCOM:XAUUSDShort
by LegionQ8
4
KPIGREEN : PENNANT FORMATIONNSE:KPIGREEN has recently experienced a significant bullish run, pushing its stock prices to new highs. Following this surge, the stock appears to be forming a classic pennant pattern, which is a continuation pattern often indicating that the prior trend will resume after a period of consolidation. Breakout Potential: If NSE:KPIGREEN breaks above the upper trendline of the pennant with increased volume, it could signal the continuation of the bullish trend. Traders might look for a breakout above the resistance level as a buy signal. Target Price: The height of the initial flagpole (the previous uptrend before consolidation) can be projected from the breakout point to estimate the potential upside target. Stop Loss: To manage risk, consider placing a stop-loss order just below the lower trendline of the pennant. This helps protect against downside risk if the pattern fails and the price breaks below support. As always, proper risk management and due diligence are essential when trading pattern formations.
NSE:KPIGREENLong
by VanshikaUdeshi
Euro can rebound up to 1.0900 points, exiting from pennantHello traders, I want share with you my opinion about Euro. By observing the chart, we can see that some time ago price rebounded from the support level, which coincided with the buyer zone and declined to 1.0650 points. After this, the EUR turned around and started to trades inside an upward pennant, where it in a short time rebounded from the support line and rose to the 1.0725 level. Soon, the price broke this level and started to trades inside the range, where it at some time rose to the top part of the consolidation, but soon turned around and declined to support line of pennant. After this movement, the EUR made an impulse up to the current support level, which coincided with the support area, thereby exiting from the range. Also soon, the price broke this level and later reached the resistance line of the pennant, after which turned around and started to decline near this line to 1.0835 level. Now, it continues to trade near this level, so, in my opinion, the Euro can little decline and then rebound up, exiting from the pennant pattern. For this reason, I set my target at 1.0900 points. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
1
This is the real question to ask now.There are two scenarios. 1- Bull pennant 2- Bull flag Write in the comments which one do you think? - If it is a bull flag, there is a possibility to drop to $2800. In a different analysis I shared yesterday, I gave the target of $2800. Please check it. - If it is a bull pennant. Yesterday we had a bear trap and now retesting the breakout. In both scenarios, I think we have beautiful days in front of us after Bitcoin halving. * What i share here is not an investment advice. Please do your own research before investing in any digital asset. * Never take my personal opinions as investment advice, you may lose all your money.
by traderisso
1
$SANUSDT POSSIBLE BREAKOUTKUCOIN:SANDUSDT 0.40 zone needs to hold as support and a possible breakout would provide interesting targets as marked. 0.40 could Fake Out so it's important to watch for these signals - and price tells you everything - just be patient. When you have a confirmation now you can pull the trigger on your planned move. When planning moves we must consider the possibility of failure and you must manage risk and remember that CRYPTOCAP:BTC rules the show. Currently, CRYPTOCAP:BTC is sitting in a Bull Flag but price is in the pattern until it isn't so in the event of a pullback, we would look for a discounted entry on $SANDUSDT. If you liked this idea or if you have your own opinion about it, write in the comments. The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations.
Long
by imr4nkh8n
Gold can start decline to support line of upward channelHello traders, I want share with you my opinion about Gold. Observing the chart, we can see that the price reached the support level, which coincided with the buyer zone, and soon broke this level and continued to grow inside the pennant. In this pattern, XAU rose to the current support level, which coincided with the support area, and even rose higher and reached the resistance line, after which turned around and made a correction to the support line of the pennant. Later price reached the 2400 level again and then made a strong downward impulse to the buyer zone, exiting from the pennant pattern and breaking the 2290 level. But soon, the price turned around and started to grow inside the upward channel, where it soon broke the 2290 level again. Next, Gold reached the resistance line, and made corrections to the support line, after which rebounded up to the support area, breaking the 2400 support level. As well recently, the price rose higher than the support area and now trades close to the resistance line of the upward channel. In my opinion, Gold can rebound from the resistance line and decline to the support line of the upward channel, breaking the current support level. For this case, I set my target at the 2370. points, which coincided with the support line of the channel. Please share this idea with your friends and click Boost 🚀
FOREXCOM:XAUUSDShort
by LegionQ8
4
RIPPLE - After exiting from pennant, price can bounce upHi guys, this is my overview for XRPUSDT, feel free to check it and write your feedback in comments👊 A few moments ago price entered to falling channel, where it first reached resistance line and then continued to fall. In channel, XRP broke $0.5360 level, which coincided with resistance area and declined until to support area. After this, price made strong upward impulse to $0.5705 points, exiting from channel and breaking $0.5360 level. But soon, Ripple turned around and in a short time declined to $0.4900 support level inside downward pennant. Next, price bounced from support line of pennant and rose to resistance line and now tired to exit from this pattern. In my mind, Ripple, after exiting from pennant, can make retest and then bounce up to $0.5440, breaking resistance level. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
BNB Bullish Pennant - Target: $880Bullish pennant on BINANCE:BNBUSDT Not Financial Advice Fib retracements are drawn between the ATH and the 2022 low. Some levels are still very well respected. (The pennant's low, matches exactly 0.618 fib) We are very close to the pennant's convergence, so a breakout should be imminent. Watch for a breakout of the resistance trendline (solid orange), as the target for a breakout would be a new ATH at around $880. Expect some resistance in the $690 area, as that was the previous ATH.
Long
by AliferCrypto
Euro can reach resistance level and then rebound downHello traders, I want share with you my opinion about Euro. By observing the chart, we can see that the price some days ago rebounded from the seller zone, which coincided with the resistance level and rose to 1.0940 points, after which it started to decline inside the pennant pattern. In this pattern, EUR broke the 1.0850 level and fell to the support line, after which at once rebounded and rose to the resistance line of the pennant. Soon, the price exited from this pattern and entered to seller zone, where the Euro some time traded and soon made a downward impulse. price broke 1.0850 and 1.0650 levels, and also later started to grow inside the wedge. In the wedge, the price soon broke the 1.0650 level, which coincided with the buyer zone and continued to move up. But later it made a correction move to the support line of the wedge, after which rebounded and rose until to the resistance line. When the price reached this line, it made a small correction move, after which at once backed up, and now it trying to exit from the wedge. So, in my opinion, the Euro, after exiting from the wedge can reach a resistance level and then the price will rebound down. For this reason, I set my target at 1.0750 points. Please share this idea with your friends and click Boost 🚀
Short
by LegionQ8
1
After exiting from pennant, BTC can make retest and bounce upHello traders, I want share with you my opinion about Bitcoin. Observing the chart, we can see that the price a long time ago reached a resistance level, which coincided with the seller zone, and then made a downward impulse to 56500 points, thereby breaking the 60200 level. But later BTC turned around and made a strong impulse up to the resistance level, breaking the 60200 level, which coincided with the buyer zone one more time. Also, the price entered the seller zone, where it rose to 65300 points and then at once turned around and started to decline, breaking soon the 64600 level again. As well price continued to decline inside the pennant, pattern, where it corrected almost to the support level. After this, BTC rose to the resistance line, but at once rebounded then and fell to the 60200 level and then started to grow to the resistance line of pennant again. When BTC reached this line, the price broke it, thereby exiting from the pennant pattern and now it trades near. In my opinion, Bitcoin can decline to this line, making retest and then rebound up. For this reason, I set my target at the 64600 resistance level. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
1