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Pennant

Gold can exit of pennant and then rebound down to support levelHello traders, I want share with you my opinion about Gold. By observing the chart, we can see that the price some days ago price rebounded, broke the 1935 resistance level, which coincided with the seller zone, and then entered to downward channel. Inside the channel, the price first fell to the 1915 support level, which coincided with the support line of the channel, and at once bounced up to the resistance line. After this movement, the price rolled down from the resistance line and fell below the 1915 level, which there moment coincided with the buyer zone to support line of the channel. Next, Gold rebounded from this line and made a strong impulse up to the 1935 resistance level, thereby exiting from the downward channel. Also soon, the price broke this level and even rose higher than the seller zone to the resistance line of the pennant. But at once Gold started to fall and in a short time declined to support line, breaking the resistance level again. Recently price bounced up from this line and now Gold trades very close to the resistance line. In my mind, the price can bounce up, and break the resistance line, thereby exiting from a downward pennant and then starting to fall to the support level. For this case, I set up my target at the 1915 level. Please share this idea with your friends and click Boost 🚀
FOREXCOM:XAUUSDShort
by LegionQ8
14
US100 ~ 4H Bullish Pennant (1H update)CAPITALCOM:US100 tapped & held above confluence. US Flash Manufacturing & Services PMI release could bring in some big swings in either direction...however intuition tells me majority of implied volatility will manifest next week with US data points: Wed - CB Consumer Confidence Thurs - Final GDP (q/q) | Unemployment Claims Fri - Fed Chair Powell Speech | Core PCE Price Index (m/m) | Revised UoM Consumer Sentiment & Inflation Expectations Play-by-play looks the way..
CAPITALCOM:US100
by BlueHatInvestor
Macy's Option Trade TAI noticed Macys( NYSE:M ) was way oversold and was overdue for a run at least to 12. This is my documentation for charting this play. I purchased Oct 12, 2023 $12 call. Sold for ~25% profit. I should have sold the call on Tuesday or Wednesday cause I hit my 20% profit quickly but I was being greedy. Having faith in conviction is one thing but to be a successful trader you need a trade plan and to follow it. Faith gets you posting loss porn on r/WallStreetBets. I have learned to be happy with this cause being greedy has cost me way more money. Note: The TA was done and tracked on the 5 minute chart but you need to have a time frame of at least 15 minutes when you publish ideas. That is why you see some funny UI glitches.
NYSE:MLong
by HotsauceShoTYME
2
Watching AMZN break of 139.64 for continuationThe headline chart is a 15 min chart, but it's easier to see what's really happening on the 5 min chart where it broke a wedge downwards and remains to reject entry back into the trend: I'll be watching for breakdown entry under 139.64 only if it retests it and confirms resistance. I would be looking for 138ish. Already played NASDAQ:AMD for +20% today. Continued to +50% on strength. Welcome to follow for more insights. Of course, this move is cancelled if it breaks 139.98 and becomes support. Thanks for reading.
NASDAQ:AMZN
by kingdips
2
📈 AUDJPY: Watch This Textbook Bullish Flag Breakout!Full-time trader. Follow for more free tips & like/ share this idea. Thanks in advance! Bullish flags typically typically show some profit-taking after a strong uptrend without any violent selloffs. The pole needs to have an impulsive and violent move upwards. The breakout from the flag should be followed by a volume spike. This is exactly what we have on the FX:AUDJPY Watch how this plays out in the next few weeks. Learn from it, then do it again on another pair. Possible max target at 101. Of course, like with any currency or stock, expect bumps and dips along the way. Look for higher lows which would void the bullish flag. First resistance break (see chart) should cause an impulsive move upwards, as many traders will spot the pattern and FOMO into it. The lower timeframe shows a nice trend forming. This strong trend can help break resistance faster than expected: If you don't have experience trading this pattern, it's better to sit this one out and watch it unfold and take notes. If you trade stocks, you'll love our community. Link below!
Long
by kingdips
Pennant - DXYPrice for USD is forming what looks to be a Pennant Chart Pattern! Pennants are known to be Continuation patterns where price typically will break out the direction it was heading prior to entering the pattern! BUT everyone knows MARKETS CAN DO WHATEVER, WHENEVER! DXY has been stretching up since July 14th! Lets see if the BULLS have what it takes to push further up out of this pattern OR if the BEARS are ready for the downslide! *BE AWARE: Fundamentally USD has Building Permits (19th), FOMC (20th), Unemployment (21st) and PMI (22nd)
TVC:DXY
by Novi_Fibonacci
GOLD - Price can make little movement up and then fall to $1905Hi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊 When price bounced from $1905 support level and made strong upward impulse to $1985 points, it broke $1950 level. Then price entered to falling channel, where it declined below $1950 resistance level, which coincided with resistance area. Also Gold declined to support line of pennant, breaking $1905 level, but at once bounced and started to rise. Price reached resistance line of pennant, and at once bounced down to support level, exiting from pennant. But a not long time ago price bounced from this level and then started to rise. I think that Gold can rise a little more and then it starts to fall to $1905 support level. If this post is useful to you, you can support me with like/boost and advice in comments❤️
OANDA:XAUUSDShort
by WalterMoon
19
Bitcoin can start decline to support level and try to break itHello traders, I want share with you my opinion about Bitcoin. Looking at the chart, we can see how the price fell firstly to the 25700 support level, which coincides with the buyer zone, at once bounced up, and some time traded nearly there. Also soon, the price declined to the buyer zone, and then it rebounded and made impulse up to the current resistance level, but soon rebounded down and in a short time declined back to the buyer zone. Later, BTC broke the 25700 support level and declined to the support line of the pennant, where it at once bounced and made a strong upward impulse higher than 25700 26450 levels, to the resistance line, but when it reached this line, Bitcoin rolled down below. After this, the price continued to rise and soon reached the 26450 level again, which coincided with the support area and even later broke it. As well, the price reached the resistance line again, but at once rebounded and made corrections to the support line, and then continued to move up. But a not long time ago, Bitcoin exited from the pennant, and at the moment it trades very close to the support area. In my mind, the price can start to decline to the support level and try to break it. After the breakout, the price can make a retest and then continue to fall, therefore I set up my target at the 26000 level. Please share this idea with your friends and click Boost 🚀
Short
by LegionQ8
13
TESLA next bull run analysis you have to see.Telsa after long bearish trend pushing prices with higher high and higher low patterns indicating a near bull run scenario to be take place. the convergence from point 2 to point 5 can act as bullish reversal and can push price to 1k USD or even more upside probably making tesla a multi bagger stock. As fundamentals are strong and TA giving green signal you can invest in a SIP manner or one can start invest for long term once the raising wedge correction is finished . best price for entries are from 200 ranges. Thank you.
NASDAQ:TSLALong
by Zakir-Ahmed
1
UK100 Bullish SeptemberDaily chart of UK100 is expected to Break up weekly resistance and trendline to follow a Bullish September Seasonal behaviour. Take Long positions after retest and new orderblock formation Dow theory HHs HLs: Bullish Candlestick Pattern : Bullish forming three soldiers Support &Resistance: Orange line formed on Weekly chark Trendline: Resistance approaching expected to breakup Fibonacci: Bullish Touched 50% on daily Seasonals: Bullish Divergence: Bullish on 4hr Pattern: Bullish Penant on Daily
CAPITALCOM:UK100Long
by maberl
1