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Pennant

Euro can fall to support line and try to exit from pennantHello traders, I want share with you my opinion about Euro. Looking at the chart, we can see how the price some days ago started to rise in an upward channel, where it first reached the support line and then rebounded up to the 1.0670 support level, which coincided with the buyer zone. Later Euro broke this level and reached the resistance line of the channel, but in a short time price corrected to the 1.0670 level. Next, the price rebounded from this level and rose to the resistance level, which coincided with the seller zone, but at once it bounced down and some time rising below it. A few moments ago Euro entered to seller zone, breaking the 1.0965 level, but soon price around down and made a downward impulse, thereby breaking the resistance level again and exiting from the upward channel. After this, the price entered to pennant, where it tried to break the resistance level again, but a not long time ago Euro fell back and now it trades near the resistance line of the upward pennant. So, in my mind, the Euro can reach the resistance line and then rebound down the lower support line, thereby exiting from the pennant. Also, I think the price can continue to fall, therefore I set up my target at the 1.0775 level. Please share this idea with your friends and click Boost 🚀
Short
by LegionQ8
7
EURO - Price can exit of pennant and then fall to support levelHi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊 A not long time ago price bounced from resistance level, which coincided with resistance area, and started to decline in falling channel. In channel, EUR fell to $1.0780 support level, which coincided with support area and even declined lower there to support line. But soon, price bounced from support line of channel and in a short time rose back and also soon exited from channel. After channel, Euro started to rise in pennant, where reached $1.0980 level and tried to break it, but failed. Price fell to support line of pennant, thereby making fake breakout and now it trades near this line. Possibly Euro can break this line, exit from pennant, and then decline to $1.0780 support level. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Short
by WalterMoon
5
Bitcoin can correct to support line and then make upward impulseHello traders, I want share with you my opinion about Bitcoin. Observing the chart, we can see that the price some time ago reached the 36800 support level, which coincided with the buyer zone and in a short time broke it. Then BTC rose a little more, but soon it made a correction back, after which it entered to upward pennant. In pennant, the price at once rebounded from the support line and made a strong impulse up to the current support level, which is located in the support area. Later BTC broke this level too and continued to move up to the resistance line of the pennant. After it reached this line, the price around down and in a short time declined to the support line, breaking the 41600 level, but a not long time ago it backed up. As well recently, Bitcoin reached the resistance line of a pennant, after which it rebounded to the support area. And now BTC continues to trades near this area and in my mind Bitcoin can correct to support line of pennant and then make an upward impulse, thereby exiting from this pattern. For this case, I set up my target at the 44100 level. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
3
Swiss Franc can leave pennant and continue to grow to 0.8760Hello traders, I want share with you my opinion about Swiss Franc. Looking at the chart, we can see how the price a few days ago rebounded from the seller zone, which coincided with the 0.8760 resistance level and declined until the support level. After this, the price rebounded and started to rise in an upward channel, where it rose to the resistance line, thereby breaking the 0.8760 level, but later it bounced from this line and fell to the support line. A few time later Swiss Franc tried to rise higher than the seller zone, but failed and declined to the support level, which coincided with the buyer zone and even fell lower than this zone. Also, the price exited from the channel and entered to the pennant, in which CHF rebounded from the support line and rose to the resistance line, breaking the 0.8670 level. At the moment price continued to trades near the resistance line and I think that price can fall to the support line and then rebound up higher than the resistance line, thereby exiting from the pennant. After this, the Swiss Franc can continue to move up to the 0.8760 resistance level, so I set my target at this level. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
2
Ripple can exit from pennant, and then start to growHello traders, I want share with you my opinion about Ripple. Observing the chart, we can see that the price a few days ago price entered to upward channel, where it first declined to the support line, breaking the 0.5930 level, but soon rebounded back. After this, XRP reached the resistance line of the channel and then corrected, after which the price continued to move up to the 0.6400 resistance level, which coincided with the seller zone. But soon, Ripple rebounded from this level and fell to the support line of the channel, and then the price rebounded and made a strong upward impulse, higher than the 0.6400 level. Also, the price exited from the upward channel and later entered to the downward pennant, where it reached the resistance line and in a short time declined to the support level, which coincided with the support line of the pennant, breaking the 0.6400 level. Next, Ripple rebounded from this level and rose to the resistance level and tried to break it, but a not long time ago price rolled down to the support line. So, I think that Ripple can break the support line, thereby exiting from the pennant and falling a little more. After this, the price can start to move up to the resistance level. For this case, I set up my target at this level - 0.6400. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
Binance Coin can rebound up from upward pennant to 260 levelHello traders, I want share with you my opinion about Binance Coin. By observing the chart, we can see that the price a few days ago started to rise in an upward channel, where it first broke the 228 support level, which coincided with the buyer zone. Some time ago, BNB made a correction to the support line of the channel and then bounced to the resistance line. After this, the price rebounded and fell to the 228 support level, which coincided with the support line of the pennant, thereby exiting from the channel. Next, the price rebounded from this line and made a strong upward impulse to the resistance line of the pennant, breaking the 245 level. Also then, BNB corrected to the support area and a not long time ago continued to rise near the support line of the pennant. And now, I think that Binance Coin can rebound from the support line and rise to the resistance line of the pennant. After this, BNB can break this line, thereby exiting from the pennant and then continuing to move up. For this case, I set up my target at the 260 level. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
ETHEREUM - Price can fall to support line of pennantHi guys, this is my overview for ETHUSDT, feel free to check it and write your feedback in comments👊 When price declined below support area, it soon bounced up and rose to resistance line, thereby breaking $1935 level. After this, price declined to this level, which coincided with support line of pennant, and later bounced up. Ethereum broke resistance line and then corrected to support line of pennant, after which it bounced and continued to grow. Later price rose to resistance line of pennant, breaking $2200 level, which coincided with support area. Then it corrected, after which price bounced up and now ETH trades near resistance line of pennant. Possibly, Ethereum can bounce from resistance line to $2175 support line of pennant, breaking support level. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Short
by WalterMoon
2
Sonic's Crypto Spin - 5x in the making. Go Blue!Brace yourselves, crypto sorcerers, as we're about to witness a breakout more ferocious than Sonic the Hedgehog's legendary spin attack in the realm of "Harry Potter Sonic Obama 10 Inu Coin." Get ready for a technical analysis that's as wild as a hippogriff ride and as thrilling as a showdown in the Forbidden Forest. In the cryptic tapestry of charts, a pennant formation is emerging, and the breakout is set to be as ferocious as Sonic's spin attack. Imagine the coin channeling the very essence of Sonic's speed, turning market barriers into a blur as it charges towards a magical horizon. Technically speaking, we've unraveled a measured move from the pennant, foretelling a 5x rise from the breakout point. It's like Sonic revving up for a spin dash, ready to break through resistance like a hedgehog breaking the sound barrier. Hold onto your wizard hats because this crypto journey doesn't end there. The coin's trajectory takes aim at the -1.618 Fibonacci extension, akin to Sonic's spin attack colliding with a swarm of rings. Breaking through this fib barrier is a quest worthy of a true crypto adventurer. So, dust off your running shoes, secure your golden rings, and prepare for a breakout as ferocious as Sonic's spin attack, blended with the enchanting magic of Harry Potter and the charismatic flair of Obama. This crypto adventure is more thrilling than a Triwizard Tournament and promises rewards that even Gringotts would envy. Accio profits, and may the crypto spin be ever in your favor!
UNISWAP3ETH:BITCOINWETH_0C3006.USDLong
by TheTraderAndy
What do you do when your trading plan fails? Yesterday I wrote about a beautiful chart pattern that was forming on the Bitcoin daily time frame that ended up failing not long after I wrote the post. That kind of thing will shake a trader to their core, especially if they thought it was going to play out, but ended up losing their shirt. This is why it is important to set stop losses, so that if the trade does go the other way, you will be out of the trade before it gets too bad. This is simply called risk management, and is one of the biggest things that any trader, especially new traders need to master. Trading is a business of statistics and probabilities. Just because something has worked for you in the past, doesn't mean it is going to work for you every time. So when something like a bullish pattern that you have traded many times fails, you have to reassess and move on to the next trade. Out of 100 trades, that pattern may only work 6 or 7 times which gives you a 60-70% chance of it working in your favor. That's how it works, nothing is ever 100% in this game. So you always have to be ready for things to not work out the way you think they should. If they don't work out, don't freak out! Just learn from your mistakes, readjust your plan, and move along to the next trade! Hopefully things like this will help you better understand the importance of a good risk management plan. Be safe out there everyone and trade logically!
COINBASE:BTCUSDEducation
by thelogicaldude
Look At That Textbook Bull Pennant On The Bitcoin Daily ChartWould you just look at that beautiful, textbook bull pennant on the Bitcoin daily chart! You can't get much more textbook than that. What I am thinking based on this chart is that Bitcoin will make at least one more big rally this week up to that big supply zone between $47K-49K. How this move happens has yet to be seen. We know that none of us have a crystal ball as much as we may think we do, and we need to take the data one candle at a time, but this is looking pretty bullish to me for the week. Now, I fully expect Bitcoin to have a pretty major correction once we get to that supply zone. That bearish order block was formed at a pretty strong level so I fully expect for people to take profits in this area and looking for Bitcoin to make a correction, or at least some good consolidation so that we have a chance to repack our bags for the next moon shot. We are still a few months off from the mining rewards being cut in half and anticipation is building. The ETF talk has got the markets all stirred up, so I am just taking it one day at a time. Be safe out there in the crazy crypto markets! Nothing is set in stone and this is only my somewhat educated guess on what I see happening this week! Trade Logically!
COINBASE:BTCUSDLong
by thelogicaldude
2
BITCOIN - Price can exit from pennant and bounce up to $45600Hi guys, this is my overview for BTCUSDT, feel free to check it and write your feedback in comments👊 When price started to trades in rising channel, it first fell to support line, breaking $37000 level, which coincided with support area. Then BTC repeated this movement two time and later finally rose higher than $37000 level, but then made correction. After this, price bounced from support level and made strong upward impulse to $42850 level, thereby exiting from channel. As well then, Bitcoin formed a pennant pattern, in which price broke $42850 level and now trades near support line. In my mind, price can break support line, thereby exiting from the pennant, fall to support area, and then bounce to $45600 If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
1
Anglo American Worth a TradeAnglo American has closed above the green line and the 10 week moving average, price is now seeking a cycle low defined by the blue upslopping line. Price going below this line signifies a daily cycle low. The challenge is that the line is rather flat so we must look out for price going lower than R471.64, this would reset the weekly low. A close above the pink downward slopping line means we leave behind a cycle low, if we do this without breaching R471.64 we can expect a powerful move upwards of at least 10%. Since we are anticipating a recession, we must be alert to the weekly cycle failing early.
JSE:AGLLong
by runyamhere
British Pound can exit from pennant and then around up to 1.2700Hello traders, I want share with you my opinion about British Pound. By observing the chart, we can see that the price a few days ago started to rise in an upward channel, where it first declined to the buyer zone, which coincided with the 1.2125 support level. After this, GBP bounced from this zone and rose to the resistance line of the channel, and after it reached this line it rebounded and fell to the 1.2125 level. Price some time traded near this level fell to the buyer zone and then made impulse up to the resistance line of the channel. Then GBP made a little correction to support line of the pennant and then started to rise. British Pound in a short time rose to the current support level, which coincided with the support area, thereby exiting from the channel. Then the price a little corrected and rose until to resistance line of the pennant, breaking the 1.2500 level. But a not long time ago it fell to the support line, where it continues to trade now. For this reason, I think that the British Pound can break the support line, thereby exiting from the pennant. Next, the price fall to the support area and then starts to rise. Therefore I set my target at 1.2700. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
5
Alephium breakout on weekly pennantAlephium broke out of the resistance line last month or so, it's been consolidating and forming a new base at the 50 cent mark. The increase in volume on this recent breakout run adds validation to the bull case. I see an upside breakout here and aiming for a $3 level to be tapped. Long term, this project is goes at a minimum to double digit, circa about $500 million to $1 billion in market cap. Market cap right now is $39 million at 65 cents. At a $500 million market cap, this places price at $8.33 with current circulating supply of of 59 million coins. This is a conservative estimate as well, peak bull mania cycle this thing goes to $5 billion dollars easily ($83 per ALPH coin). Don't miss it, alot of KASPA money and OGs have rotated into ALPH.
Long
by PontusTrader