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Pennant

Pennant - AJHere on the Daily Chart I have AUD/JPY showing signs of a Pennant pattern! Lower Highs into Higher Lows until a "Pinch Point" where price will need to break Bullish or Bearish. Pennants can break either way but the direction of the Market usually has an influence on where price will go after the break. Price has tested the Falling Resistance and Rising Support twice already, so I am waiting to see what the Third test of either Trendline will bring! Price currently is on its way up so I suspect we will get a third test of the Falling Resistance shortly! *Chart patterns are known to fail 1/3 of the time so BEWARE OF FALSE BREAKS!
by Novi_Fibonacci
6
UPL IS SOON TO CRASH DUE TO THIS PATTERN...TECHNICAL INDICATORS - SYMMETRICAL TRIANGLE BREAKDOWN - UPL had formed a very strong symmetrical triangle (with almost 8 CONTACT POINTS) recently and broke it down recently indicating a strong downmove to come in near future REVERSAL FROM 50D & 100D SMA - On daily timeframe, it had recently reversed from these two sma simultaneously again indicating downside pressure REVERSAL FROM STRONG SUPPORT-RESISTANCE LEVEL - It had also tested and reversed from an old and time tested level which earlier had acted as support and now working as resistance level PROFIT TARGET - Its profit target is 544.95 FUNDAMENTAL INDICATORS - LOWER SALES & PROFIT MARGIN COMPARED TO PEERS - On the last quarter (jan-mar), UPL had delivered a lacklustre sales and profit margin comapred to its peers Tata Chemicals, Vishnu Chemicals, Tanfac. All its peers delivered positive growth whereas it has posted profit growth in negative (-4.06%). It is also creating downside pressure on the stock
NSE:UPLShort
by peace_lover
Insmed Incorporated (INSM: NASDAQ)Insmed Incorporated (INSM), a biopharmaceutical company, is showing positive developments in its product portfolio. The company reiterated its 2023 guidance, expecting revenue between $295-305 million, with strategic plans to expand the use of its ARIKAYCE product. Encouraging Phase 2 data for its TPIP drug, used in pulmonary hypertension treatment, highlights its commitment to developing effective therapies. Investors are eagerly awaiting the Phase 3 ASPEN Trial results for Brensocatib in Q2 2024, which could significantly boost the company's growth. Market sentiment is bullish on INSM, particularly if the stock stays above the $22.50-$23.00 range, with an upside target set between $32.00 and $33.00.
NASDAQ:INSMLong
by Richtv_official
What is a Bearish Pennant Patterns?Imagine a rollercoaster: first, a steep drop (downtrend), then a brief pause (consolidation) before another drop. 💜 If you appreciate our charts, give us a quick 💜 This pause creates a symmetrical triangle of highs and lows, indicating market uncertainty. When prices break out below this triangle, it signals a likely continuation of the downtrend. 1️⃣ The Downward Journey: A clear, steep downtrend sets the stage, indicating prices are likely to fall. Think of it as the initial dive on the rollercoaster. 2️⃣ The Pennant Pause: Consolidation forms a triangle, showing market indecision. This is akin to the rollercoaster momentarily leveling out before the next plunge. 3️⃣ The Breakout Moment: A swift breakout below the triangle confirms the downtrend. It's like the rollercoaster taking a sudden, sharp drop. 🚀 How to Ride the Bearish Pennant: Step 1: Spotting the Pattern Look for a well-defined downtrend followed by consolidation forming a triangle. The triangle's upper line is resistance; the lower one is support. Step 2: Timing the Breakout Be patient; wait for a rapid breakout below the triangle. High trading volume confirms the breakout's strength. Step 3: Making Your Move Enter a short position right after the breakout or when the breakout candle closes. This aligns your trade with the downtrend momentum. Step 4: Planning Your Exit Set a profit target based on your risk tolerance. Implement a stop loss above the breakout candle's highs to guard against false breakouts. Pro Tips for Success: ✅ Stay in the Downtrend Lane: Only trade bearish pennants within a downtrend. Avoid it during uptrends or sideways markets for optimal results. ✅ Don't Jump the Gun: Wait for the breakout confirmation to avoid falling for false signals. Patience pays off! ✅ Volume: Your Secret Weapon: Strong breakouts occur with high volume. More participation means stronger market conviction. ✅ Plan Your Exit: Have a clear exit strategy. Acknowledge that breakouts might fail, and be ready to exit if the trade goes south. Mastering the bearish pennant pattern requires a blend of technical expertise, patience, and disciplined execution. Think of it as your guide to mastering market dips and making strategic moves. Happy trading!
Education
by Vestinda
BluetonaFX - GBPUSD Bear Pennant PatternHi Traders! GBPUSD is in a bear pennant pattern and is heading for the 4-week low at 1.20372 in anticipation of the FOMC press conference later today.   Price Action 📊 The market is currently in the bear pennant pattern and is showing bearish signals with lower highs and lower lows; additionally, there has been a break and a close under the 20 EMA. We are now looking for a momentum break to break and close below the support trendline to target the four-week low at 1.20372. Fundamental Analysis 📰 The US economy expanded at a 4.9% annual rate from July through September as Americans defied higher prices and rising interest rates. Economists have also said the US economy expanded last quarter at the fastest pace in nearly two years—more than twice the 2.1% annual rate of the previous quarter. The FOMC press conference is later today, so traders are eagerly waiting to hear what their statements are on the current US economic improvements. Support 📉 1.20943: TRENDLINE SUPPORT 1.20372: FOUR-WEEK LOW Resistance 📈 1.21836: 20 EMA 1.22008: PREVIOUS DAY'S HIGH Risk ⚠️ No more than 2% of your capital. Reward 💰 At least 4% of your capital. Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
Short
by BluetonaFX
BNB: Manipulative Moves in TriangleBNB has become the focal point of attention lately, caught within the confines of a significant triangle. What makes this setup intriguing is the consistent formation of equal lows at the bottom, an enticing prospect for market makers. These stable lows create an ideal opportunity for market makers to trigger stop losses hidden beneath these levels and propel the price higher. The Art of Manipulative Moves: Cryptocurrency markets are rife with manipulation, and BNB is no exception. Its current state, stuck within a giant triangle, provides an ideal playground for manipulative actions. Market makers can exploit this pattern by creating false impressions, triggering stop losses, and generating volatile price movements. Exploiting the Imbalances: Moreover, on the weekly chart, there are lingering open imbalances waiting to be addressed. Market manipulators might seize this opportunity to rectify these imbalances, a move that could potentially fuel further upward momentum. Trading Strategy: Caution and Vigilance: In an environment marked by manipulation, caution and vigilance are your best allies. Stay alert to sudden price movements and be prepared for unexpected volatility. Solidify Your Strategy: Reinforce your trading strategy, incorporating robust risk management practices and stop-loss orders to protect your positions. Stay Informed: Keep a keen eye on the market and stay informed about news and events that could influence BNB's price. Conclusion: BNB's current situation within the giant triangle is a testament to the complexities of the crypto market. While patterns and setups offer valuable insights, it's crucial to acknowledge the presence of manipulative forces. As a trader, your ability to adapt, remain vigilant, and navigate these manipulative maneuvers will be your strongest asset. Remember, in the crypto world, knowledge is power. Stay informed, trade wisely, and may your journey in this dynamic market be filled with success. ❗️Get my 3 crypto trading indicators for FREE❗️ Link below🔑
by AlexWhale
1
TOTAL2 is About to Explode!The crypto market is abuzz with a significant phenomenon - the shrinking of the total market capitalization, excluding Bitcoin (BTC). Contrary to what one might expect, this contraction often precedes a major pump in the world of cryptocurrencies, signifying the potential for exciting price movements. 🌌💥 Unpacking the Market Cap Contraction Market cap contraction is a fascinating occurrence, one that hints at the complex dynamics of the cryptocurrency market. When we talk about the total market capitalization excluding Bitcoin, we're essentially looking at the collective value of all cryptocurrencies other than the big BTC. The Compression Effect: A Precursor to a Pump Why does contraction matter? It's because, in crypto, this phenomenon frequently acts as a precursor to a "pump," a substantial increase in prices. When the total market capitalization of altcoins starts to shrink within a defined range, it often indicates that the market is preparing for a major move. Anticipating the Upward Surge For crypto traders and enthusiasts, keeping an eye on this contraction is vital. It suggests that exciting price surges could be on the horizon for the world of altcoins. Such periods of compression often lead to increased trading activity, resulting in significant price movements. Trading Strategy: Positioning for the Pump As this exciting market cap contraction unfolds, cryptocurrency traders should consider crafting trading strategies to harness the potential pump. The market dynamics may offer numerous opportunities to capitalize on these upcoming price surges. Conclusion: Crypto's Dynamic Landscape Understanding the nuances of the crypto market is crucial, and the market cap contraction phenomenon is one of its fascinating aspects. As we navigate this period of compression, let's remain vigilant, prepared, and ready to embrace the opportunities that a potential pump can bring. 🚀 Crypto Insights | 💡 Trading Strategies | 💰 Market Analysis ❗See related ideas below❗ Share your thoughts and insights 💚🌐💚
CRYPTOCAP:TOTAL2Long
by Yaroslav_Krasko
Surfing the Waves of Shiba Inu's ConsolidationShiba Inu is currently undergoing a consolidation pattern that is approaching a descent to the 50% retracement line with an approximate $0.00000745 price target. This greets the support line of what may be a several week long symmetrical pennant and an opportunity for a short-term trade that garners notable profits. Significant buy back at this level will most likely cause the asset to retrace back to the 78.6% Fibonacci level ($0.00000790). Significant resistance at this level will most likely result in a support touch at 61.8% ($0.00000763) before returning to a resistance range around $0.00000780. This completes the M pattern and places us several days from a potential breakout or breakdown around the second week of November. With a total increase in value of +24.65% during this uptrend, a high volume breakout can take Shiba Inu's price to 0.00000927 while a high volume breakdown can diminish its value to 0.00000599. COINBASE:SHIBUSD
COINBASE:SHIBUSD
by Shepherd_Investor
Descending Triangle, Hidden Pennant GUGBP/USD has been falling since July 14th and now is looking like its trapped within what looks to be a Descending Triangle or Pennant considering the current Low is higher in the Support zone then the Previous. The Descending Triangle made of Lower Highs into the Support Zone should typically give us a Bearish Break where price continues LOWER! -What makes this a special case to me is the possible presence of a Pennant! The Pennant is made up of Lower Highs into Higher Lows, consolidating into a "Pinch Point" where eventually price will break Bullish OR Bearish. -Typically the break will happen in the direction price was heading prior to entering the pattern BUT there is potential for price to play within the Pinch Point until giving a Proper Break!! **Patterns are known to fail 1/3 of the time SO BEWARE OF FALSE BREAKS!!! -Fundamentally, USD & GBP have: Employment Cost & Consumer Confidence (USD) - Tuesday ADP Non-Farm Employment, JOLT Job Openings, Federal Funds Rate & FOMC Statement and Conference (USD) - Wednesday Monetary Policy Statement, Official Bank Rate Votes, Bailey Speaking (GBP) and Unemployment Claims (USD) - Thursday Average Hourly Earnings, Non-Farm Employment Change & Unemployment Rate (USD) -Friday **With the heavy news week, ANYTHING CAN HAPPEN!! My gut is giving me BEARISH vibes with the analysis of this chart and I believe USD could be finding support after its stunning comeback later in the week last week!!
Short
by Novi_Fibonacci
2
Bullish Pennant PatternIn this guide, we unveil the secrets of Bullish Pennant pattern, exploring its psychology, identification, and trading strategies. If you appreciate our charts, give us a quick 💜💜 Understanding the Bullish Pennant Pattern: The bullish pennant emerges post an uptrend, forming a small symmetrical triangle (the pennant) during consolidation. This pattern signifies a battle between bulls and bears, ultimately leading to a breakout, usually upward, signifying the continuation of the uptrend. Components of the Bullish Pennant Pattern: An Uptrend: A prerequisite for this pattern, characterized by higher highs and higher lows. A Pennant: A small symmetrical triangle forming after the uptrend, indicating consolidation. A Breakout: The essential phase, marking the continuation of the uptrend, often occurring upwards. Trading the Bullish Pennant Pattern: Psychology Behind Bullish Pennant: A reflection of market consolidation after bullish momentum, highlighting the buyers' dominance. Bullish Pennant vs. Bearish Pennant: Bullish pennants signal uptrend continuations, while bearish pennants suggest downtrend extensions. Bullish Pennant vs. Bull Flag: Bull flags form after sharp rallies, while bullish pennants appear after extended uptrends, marked by converging trendlines. Stop Loss Placement: Consider placing your stop loss at the pennant's resistance line for risk management. Profit Target Setting: Customize your profit target, aligning with the pattern's flagpole height or a conservative approach, harmonizing with your risk management strategy. Trade Wisely! Follow us for expert trading tips and strategies!
Education
by Vestinda
Pennant - AJAUD/JPY price action has outlined what looks to be a Pennant Pattern shown here on the 4Hr chart. Pennant patterns are made up of a Lower Highs and Higher Lows into a "Pinch Point". These patterns, given the right circumstances, break Bullish OR Bearish so its important to monitor price while its in "No Mans Land" and WAIT FOR THE PROPER BREAK so the market shows its hands and direction! Fundamentally, AUD has a heavy news day with CPI and Gov Bullock speaking on Tuesday along with JPY having its Tokyo Core CPI on Thursday! *BEWARE OF FALSE BREAKS!!!
by Novi_Fibonacci
1
XRPETH falling wedge/bull pennantWe can see that price action is reaching the apex of the white wedge/pennant and that the orange 50ma has now entered the pennant. Looking at where the stoch rsi currently is, odds are good that price can maintain support on the 50ma and that it could help lift or bounce price up out of the pennant and send it heading towards the breakout target. I have only posted the pennant breakout target here, the target for the wedge on its own will be a lower than this one, however I see that the pennant target share bullish confluence with the double bottom target so I feel that increases the odds that the breakout could result in it hitting the full pennant target instead of just the wedge target. Of course until a breakout is confirmed there’s still a chance it could go below the pennant and break downward instead although much less probable…it could also always do the classic fake like it’s breaking down when its really just pullling bad the slingshot before rocketing back upward and out of the pennant. We will likely see soon enough before September seems likely. *not financial advice*
by DrDovetail
2
XAU/USD | Trend Reversal - Time to Buy!👋 Good day, traders! Let's delve into a couple of potential scenarios: 📉 After XAU has worked off its local lows and returned to its previous positions on D1, it's now shaping a new upward trend. Following a minor correction to $1920, a "Pennant" continuation pattern has formed. Upon breaking the resistance level at $1935.00, it's poised to continue its ascent towards target levels of $1960.00 and $1980.00. I recommend considering buys from an aggressive level of $1945.00 and a conservative level of $1938.00, with a potential profit range of 0.8% to 2.0%. Set your SL at ~$1930.00. ✅ Give a 👍 if you're keen on more insightful and profitable trading ideas❗️ ❓ I'd love to hear your thoughts. What's your take on this? DISCLAIMER: This idea is purely informational and educational. It's not a trading recommendation. Each trader should analyze and make decisions based on this information independently.
OANDA:XAUUSDLong
by Maxim_Lushnikov