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Pennant

GOLD - Price can bounce down to $1890, breaking support levelHi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊 Some days ago price bounced up from $1955 resistance level, which coincided with resistance area and entered to falling channel. In channel, price declined lower two levels to support line of pennant, breaking them. After this, price started to move up and in a short time rose to resistance line of pennant, exiting from falling channel. Also, Gold broke $1915 level and recently it bounced of resistance line and fell to support line of pennant, where continues to trades now. I think Gold can break support line, thereby exiting from pennant and trying to break support level. When price breaks support level, it can make retest and continue to fall to $1890 If this post is useful to you, you can support me with like/boost and advice in comments❤️
OANDA:XAUUSDShort
by WalterMoon
17
BITCOIN - Price can bounce up of support level and leave pennantHi guys, this is my overview for BTCUSDT, feel free to check it and write your feedback in comments👊 Recently price traded inside from flat, where it some time declined to $28700 resistance level, which coincides with resistance area. But later BTC broke this level, exited from flat, and made a strong downward impulse below $25700 support level. As well price entered to pennant, which Bitcoin bounced from support line and rose to resistance line, breaking $25700 level again. And not long time ago price declined from resistance line to this level, which coincided with support area, and now trades close. In my mind, Bitcoin can bounce from support level and start to rise to $27500 level, exiting from pennant. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
16
BNBUSDT - Price can break resistance level and then make retestHi guys, this is my overview for BNBUSDT, feel free to check it and write your feedback in comments👊 A few time ago price started to trades inside rising channel, where it fell to $215 level and then continued to rise. Later price made strong upward impulse to resistance line of pennant, thereby exiting from channel and breaking resistance $225 level. But then BNB bounced down and declined below this level and some time later declined to support line, breaking $215 level too. Also recently, price bounced up and tried to rise back, but failed and now trades in support area near resistance line of pennant. Possibly, Binance Coin can exit of pennant, break resistance level, and make retest, after which it starts to rise to $222 level. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
11
COP - excellent breakoutFollowing a five-month decline from its all-time high in November 2022, ConocoPhillips ( NYSE:COP ) has spent the subsequent five months consolidating within an area of value in its long-term upward channel, establishing strong volume support. Historically, we've observed COP forming triangles and making measured movements on breakouts within this channel. If the breakout we're witnessing this week aligns with past price action, we could anticipate a new range extending as high as $124. It's worth noting that the analyst consensus 12-month price target stands at $130. In a previous post, I mentioned that the gold/oil ratio relative to energy was signaling a bottom, which further confirms this opportunity with COP. I'm already long on COP. My strategy involves additional accumulation between $108-110, profit-taking between $123-125, and setting a stop loss between $97-98. As always, it's crucial to monitor market trends and adjust strategies accordingly.
NYSE:COPLong
by Ben_1148x2
Bitcoin can rebound up, thereby breaking resistance levelHello traders, I want share with you my opinion about Euro. By observing the chart, we can see that the price a few days ago prices bounced up from the 25800 resistance level and started to trade inside the range. After the price reached the top part of the range, it started to decline and fell back to the 25800 level, where it some time traded near and then made a strong upward impulse to the resistance line of the pennant. Also, the price exited from the range, and then BTC rebounded from the resistance line and later made a downward impulse below the 25800 resistance level, which coincided with the buyer zone, thereby breaking it. Next, the price bounced from this line and rose higher than the resistance level, but recently it backed up below and now continues to trade very close to this level inside the buyer zone. In my mind, Bitcoin can exit from the pennant, break the resistance level, and make a retest. After retesting, the price can continue to rise. For this reason, I set up my target at the 26500 level. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
15
Ripple can rebound up from support line and exit of pennantHello traders, I want share with you my opinion about Ripple. Observing the chart, we can see that the price some days ago price rebounded from 0.5080 current resistance level and started to trade in a big range. Inside the range, the price made the correction and later rose to the 0.5340 resistance level, which coincided with the seller zone. After this price broke this level, thereby exiting from the range and reaching the resistance line of the pennant. Then Ripple rebounded from the resistance line and in a short time declined to the support line of the pennant, breaking 0.5340 and 0.5080 levels. Later price rebounded from the support line and rose to the resistance line, but recently it rolled back and now it trades very close to the resistance area. In my mind price can rebound up from the support line to the resistance line, which coincides with the resistance level, and try to break them. After the breakout, Ripple can make retest and continue to move up. For this reason, I set up my target at the 0.5200 level. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
3
BITCOIN - After breaking support line, price can continue fallHi guys, this is my overview for BTCUSDT, feel free to check it and write your feedback in comments👊 Recently price started to trades inside wedge, in which it bounced from support line to resistance line, breaking $26000 level. After this price started to decline to this level and when BTC reached it, price bounced and made impulse up to next level. Also, Bitcoin exited from wedge and later broke $27200 resistance level, and reached resistance line of pennant. Soon, price bounced down and made strong downward impulse to support line, and a not long time ago even broke this line. Now I think that Bitcoin can make a small movement up to resistance level and then continue to decline to $25300 level. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Short
by WalterMoon
16
EURO - Price can exit from pennant and fall to $1.0735Hi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊 When price reached resistance line, it started to decline to $1.0850 level, which coincided with resistance area. After this Euro made strong upward impulse to $1.1275 points, thereby breaking resistance line and $1.1135 resistance level. Soon price bounced below $1.1135 level and then tried to back up, but it failed and started to fall near resistance line of pennant. Euro fell below $1.0850 level to support line of pennant, and recently bounced up and now trades in resistance area near this level. I think that price can make a small movement up and then bounce down to $1.0735, thereby exiting from pennant. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Short
by WalterMoon
16
After exiting from pennant, Binance Coin can continue to growHello traders, I want share with you my opinion about Binance Coin. Observing the chart, we can see that the price a few days ago traded inside a big range, in which it some time declined to the 238 resistance level, which coincided with the resistance area, but at once rebounded to the top part of the range. After this BNB bounced and started to decline to the resistance level again, but this time price broke the 238 level and made a strong downward impulse below the 215 support level, thereby exiting from the range too. Then Binance Coin rolled up and tried to rise, but failed and declined lower to support line of pennant. Later, the price rebounded from the support line and rose to the resistance line, thereby breaking the support level, which coincide with the buyer zone. As well recently BNB exited from pennant and now trades near. Probably Binance Coin can decline to the support level, and then it can rebound from this level and continue to move up. For this reason, I set up my target at the 225 level. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
8
GNS Consolidated and Resting from Big Move LONGOn the 30-minute chart, I see GNS as a Bullish Pennant on a high flag pole in the big move yesterday with consolidation now. It is high in the VWAP bands and so at risk for a reversal to the mean. Pennants more often than not continue upside. To hedge, I have set two lines. If the price goes over the green line a buy stop long will trigger into a market price. If the price drops below the pennant height, a sell stop will trigger the short trade. One trade is on the other will not execute. Ask if you want my suggestion as to stop losses and targets. (EDIT - On the chart it is a flagpole not a flap pole !)
GLong
by AwesomeAvani
Dr Copper ~ Snapshot TA / Contraction x Expansion = InflectionIt ain't easy being DR CAPITALCOM:COPPER Peaked in March 2022, only to crash -38% & bottomed-out in July 2022. Since then it has fluctuated between Contraction (will Global Economy collapse?) versus Expansion (will Global Economy recover?), while also contending with outlook of China's Economy, yeesh lol. Copper's price action has also been compressing, as descending trend-line squeezes current Trading Range against ascending Parallel Channel. This suggests momentum will eventually need to "pop" in either direction...but it could also continue trading sideways a little longer while more data is disseminated by Market Makers to make a confident decision, TBC. Tick tock, time is running out for the Doctor.. Boost/Follow appreciated, cheers :) AMEX:COPX AMEX:CPER COMEX:HG1! COMEX:HG2!
CAPITALCOM:COPPER
by BlueHatInvestor
Bitcoin can break resistance line of pennant and continue growHello traders, I want share with you my opinion about Bitcoin. Observing the chart, we can see that the price rebounded from the support line and started to rise to the resistance line, thereby breaking the 30000 resistance level, which coincides with the seller zone. After the price reached this line it bounced down and in a short time fell back to the support line, breaking the 30000 level again. Next BTC some time traded below and even later tried to rise back, but the price only reached the resistance level and then made a strong downward impulse until below the 25800 support level, thereby breaking resistance and support lines. Also, BTC entered to the pennant, where it soon bounced from the support line and rose higher of the 25800 support level. And now the price continues to trade inside the pennant close to the resistance line. Probably Bitcoin can break the resistance line, thereby exiting from pennatn, and then continue to rise. For this reason, I set up two targets, the first target at the 27500 and the second - at 28500 levels. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
17
Silver ~ Snapshot TA / Bullish ConsolidationTVC:SILVER rallying to the upside & revealing its Bullish inclinations ahead of key Global Economic events. Fibonacci Extension doing a great job identifying key Demand/Supply zones to watch for smaller-timeframe trend rejection/continuations. Dashed horizontal lines (~25.26/~22.21) highlight key Make or Break levels for longer duration Swing Trades. Golden Pocket/Gap Fill confluence presents interesting Stink Bid opportunity if Silver price action turns to disaster. Boost/Follow appreciated, cheers :) OANDA:XAGUSD COMEX:SI1! COMEX:SI2!
TVC:SILVERLong
by BlueHatInvestor