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Pennant

EURO - Price can bounce up from support line to $1.1070Hi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊 A few time ago price bounced from support area, which coincide with $1.0850 support level, and rose to resistance line. After this movement, Euro started to fall near this line and declined to $1.0850 level. Then price made strong upward impulse to resistance line of pennant, thereby breaking $1.1120 resistance level. Later price started to decline to $1.1120 level, which is located inside resistance zone, and then continue to fall to support line. Also then Euro reached support line a few time ago rose resistance line, but at once fell back and now trades near support line. Possibly Euro can rise to resistance line again, break it, exiting from pennant, and continue to rise to $1.1070 If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
16
Trade Execution Setup Aug 4I have possibly captured all inputs for the trades taken. Please feel free to comment for any clarifications/suggestions. 1 & 2 in chart indicates 2 trading opportunities with their analysis. Trade Opportunity 1 - The market gap-up happened. so as per the trade plan, I was looking to short at the marked levels in the Trade Plan, but as there was no entry signal as per my trade setup, I ignored, and waited. Observed a beautiful price compression breakout. Entered an ATM strike price at the compression breakout, but small SL was taken as the price did not move as expected. Waited for the next trade opportunity. Trade Opportunity 2 - The market showed continuous signs of fatigue which were evident through the price action in 15 min,5 min, and 75 min. 1)15 min Candles were all Hammers, Shooting stars for about 1H+. 2)75 min showed rejection at 50% Fib level of Previous swing high. 5 min TF 3) 5 min showed a triple top sort of formation. Hence eyed a PE ATM strike and entered a quick scalp based on 1 min Price compression/Triangle pattern breakout, 1:1.5 RR. So was able to end the day at 5% ROI.
NSE:NIFTY
by Rugminik
Bitcoin will go UP(Short term)🚀After news of a stock sale by MicroStrategy to buy more Bitcoin, we saw a 🐻Bear Trap🐻 on the Bitcoin chart. But Bitcoin started to fall again from the 🔴 resistance zone($29,850-$29,480) 🔴. 💡If we look carefully at the Bitcoin chart, we will notice the Symmetrical Triangle Pattern . 💡Also, we can see Regular Divergence(RD+) between two consecutive valleys. 🔔I expect Bitcoin will go up at least to 🎯 target 🎯 that I specified in my chart. -------------------------------------------------------------------------------- 🌐➕ Positive News ➕🌐: MicroStrategy's Saylor Wants to Buy as Much Bitcoin as Possible.(Saylor’s MicroStrategy plans $750M stock sale, possibly buying more Bitcoin). Economist Alex Krüger Says He’s ‘Betting On Up’ When It Comes to Bitcoin As Under-the-Radar Indicator Flashes. India makes suggestions for G20 crypto roadmap. Dubai expands crypto licenses, granting approval to Nomura. 🌐➖ Negative News ➖🌐: Binance Could Face U.S. Fraud Charges, but Prosecutors Worry About Risk of Bank Run. Binance Suffers $870B Trade Volume Drop in 2023. Pressure on Cryptocurrency Exchanges from Ukraine! 48% Of All Bitcoin Lightning Network Nodes Run On Amazon And Google Cloud -------------------------------------------------------------------------------- Bitcoin Analyze ( BTCUSDT ), 1-hour time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy, this is just my Idea, and I will be glad to see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Long
by pejman_zwin
55
GOLD - Price can bounce of support line and started to riseHi 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 $1945 level and rose to $1970 point, but at once started to decline. Price fell below $1945 level, and then bounced up again, and started to decline inside falling channel. In channel, Gold broke two levels and when price declined below $1915 level, it bounced up and exited from channel. Next, price fell to support line and made upward impulse higher of $1975 resistance level, but soon fell to $1945 support level. Also, Gold formed pennant pattern, in which continues to trade to this day and I think that price can fall to support line. Then price can bounce up to $1975 resistance level, exiting from penant. If this post is useful to you, you can support me with like/boost and advice in comments❤️
OANDA:XAUUSDLong
by WalterMoon
24
Bullish Continuation Pattern on EURUSD - Potential Long TradeIntroduction: EURUSD is showing signs of a bullish continuation pattern on the H1 chart. A sharp move down was followed by a pullback, breaking above the latest fractal bar down. The subsequent price action formed a flag pole and a pennant, indicating a potential bullish breakout. This analysis outlines the setup, entry, exit strategy, and target for this trade. Entry and Target: We plan to enter a long trade after a confirmed breakout above the pennant's upper trendline. Our target is set at 0.1140, based on the height of the preceding flag pole projected upward from the breakout point. Stop Loss: For risk management, we will set the stop loss at 0.9870, just below the recent low of the pennant. Note: This analysis is for informational purposes only and not financial advice. Remember to conduct your own analysis and risk assessment before making any trading decisions.
Long
by getmohsin.py
2
Bitcoin can rise to resistance level and try to break itHello traders, I want share with you my opinion about Bitcoin. Observing the chart, we can see that price a few time ago broke the 31000 resistance level and fell to the 29700 current resistance level. next, BTC bounced up to the resistance line, thereby breaking the 31000 resistance level again and even the seller zone. But soon it started to decline near the resistance line and in a short time, the price firstly fell to the 29700 resistance level, and later fell lower ot the support line, breaking this level too and forming a downward pennant pattern. Then the price tried to rise, but after it reached the resistance area, it fell back to the support line. But a few time ago, BTC rebounded up and break the resistance line, thereby exiting from the pennant and even recently made a retest of this line. At the moment I think that Bitcoin can fall to the support line again and then bounce up to the 29700 resistance level, which coincides with the resistance area. Next, the price can make a small movement down and continue to rise, thereby breaking the resistance level. For this reason, I set up two targets, the first target at the 29700 resistance level and the second - at the 30100 level. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
10
BITCOIN - Price can rise to resistance line and try to break itHi guys, this is my overview for BTCUSDT, feel free to check it and write your feedback in comments👊 A few days ago price bounced from $31100 level, which coincide with resistance area, and fell to next $29900 level. Later price bounced from this level to resistance line, thereby breaking $31100 After price reached resistance line, it started to fal land in a short time BTC declined lower $29900 level to support line, making pennant pattern. Also recently, price bounced from support line and started to rise, and at the moment Bitcoin trades near support line. In my mind, Bitcoin can bounce to resistance line and try to break this line and if price breaks resistance line it can make retest. As well, price can exit from pennant and then continuing to move up to $29900 resistance level. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
13
Bitcoin can break resistance line and bounce up to 30350Hello traders, I want share with you my opinion about Bitcoin. Observing the chart, we can see how the price some time ago fell to the support line, which coincided with the 29500 support level, and soon the price bounced up to the 31200 resistance level, thereby breaking the current resistance level. But in a short time BTC started to decline and a few time later it fell back to the support line. Next, the price rose firstly to the resistance area and then made impulse up to the seller zone and even grew higher of it. But soon it rolled down to the 29500 support level, breaking two resistance levels and the support line. After this movement, BTC rose to 30350 current resistance level, which coincide with the resistance line, and then made a downward impulse below the support level to support the line of the pennant. And recently Bitcoin grew back and now trades very close resistance line and support level. Possibly price can break the resistance line, thereby exiting from the pennant and then continuing to move up to the resistance level. For this case, I set up two targets, the first target at the 29900 and the second - at the 30350. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
18
XRP versus Bitcoin - How to play one off the other XRP / BTC – Weekly Performance Time Analysis A stark realization looking at this chart is just how long bear periods are for the XRP/BTC pair suggesting that you are better to hold BTC until a buy trigger event occurs for XRP. The POC is a vital area to watch (explained in the chart). If we find support above/on it, we have room for major upside as there is little to no price volume above it. If these two points above is all you take from this chart, GREAT! More below… Buy into XRP Trigger Events: - Test of lower diagonal trend lines - Break above and retest of POC as support - Bear periods lasting longer than 23 weeks means start paying attention for buy opportunities - Break above 20 week SMA (means pay attention also) Sell into BTC Trigger Events - Test of upper diagonal trend lines with rejection - Hitting the POC resistance would be a sell event for me, it will very likely be stiff resistance. You can always re-enter once we find support above it and you can always leave something small on the table to keep you interested. - Bull periods lasting longer than 7 - 10 weeks be cautious (take some profits). We are here now. - Break below the 20 week SMA has not been good for XRP most the time, also if it acts as resistance or if price oscillates around it when is downward sloping, the outcome is typically not great. Bull and Bear Time Frame Determination: I have done my best to use any >15% candle close above the 20 week SMA as a bull period. I have also tried to use common sense to try and determine downward or upward price structure…so some of this chart is my interpretation of bullish versus bear price action. However I think the general trend(s) are there to see. You can make your own interpretations also. The chart after all is only to provide some assistance in your trade, maybe help reach a decision, one way or the other.
by PukaCharts
Ethereum can rise to resistance line and try to break itHello traders, I want share with you my opinion about Ethereum. Observing the chart, we can see how the price some time ago bounced from the support line and made a strong impulse higher of the 1845 support level, thereby breaking it. After this price made a correction to the support area, and then rebounded up to the 1965 resistance level, which coincided with the seller zone. Then ETH rolled back to the support level, but at once bounced and rose to the resistance line, breaking the resistance level. after this movement, prices started to decline and soon fell below the 1965 resistance level to the support level, thereby making a fake breakout and forming a pennant pattern. Also, ETH declined more to support area, which is coincide with the support line, but in a short time back up and now trades near the 1845 support level. In my mind, Ethereum can decline to the support line again and then bounce to the resistance line. Then price and break this line and make a retest, or it at once continues to move up without retest. Therefore I set up my target at the 1910 level. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
9
4hr bull pennant on xrpusdI normally don’t put too much faith in 4 hour timeframe chart patterns, however should this 4 hour chart bull pennant hold up the bullish breakout target is around $1.10 . As of now it does look like it’s about to break upward, however being a smaller time frame like the 4hr chart there is still a chance this could be a fakeout and the real chart pattern is much bigger and needs to be charted on a higher timeframe. For now at least this looks good. *not financial advice*
BITSTAMP:XRPUSD
by DrDovetail
Bullish Pennant on USD/JPY @ H4This chart shows a bullish pennant on the daily chart of the USD/JPY currency pair. It can be used as a trend continuation pattern in case of the price closing above the upper border of the pennant part. The pennant and its pole are shown with the yellow lines. My potential stop-loss level is marked with the red line (141.208), it is placed at the low of the pennant area. My potential take-profit level is marked with the green line (143.411), it is placed at the pole's length above the SL. I will wait for the price to close significantly above the upper border of the pennant area to execute a buy trade here.
Long
by AndriyMoraru
After exited from pennant, Binance Coin can rise to 245Hello traders, I want share with you my opinion about Binance Coin. Observing the chart, we can see how the price recently bounced down and fell to the support line, thereby breaking the 235 support level, which coincides with the buyer zone. After this BNB at once bounced of the support line and rose to the resistance level, breaking the support level again, but when the price reached the 250 level, it rolled down to the buyer zone, which coincide this time with the support line. Next, BNB rose to the resistance level again, then made a little correction and continue to move up to the resistance line, thereby breaking the seller zone and resistance level. But after this, the price bounced down and fell below to support line, forming upward pennant pattern. Also a not long time ago Binance Coin broke the support line, thereby exiting from pennant and now trades below. I think that price can continue to rise to the support line and after BNB reached it, the price can make a little correction and then bounce up. For this case, I set up my target at the 245 level. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
6
Gold AnalysisMy Analysis on Gold: 1) Reach a monthly high 2) Retraced on a FIB ratio between 50% and 61.8% 3) Had a breakout from a bullish pennant and also made a retracement NB: These confirms our bullish sentiment on Gold. FOR ENTRY: AN AGGRESSIVE TRADER can enter with a good candle pattern from a lower timeframe (1H, 4H) and volume confirmation. A CONSERVATIVE TRADER Can wait for a breakout from the resistance zone with a high volume confirmation before entry in a lower timeframe (1H, 4H).
PEPPERSTONE:XAUUSDLong
by chisommarvell
EURO - Price can make a little correction and then start to riseHi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊 A few time ago price moved inside falling channel, in which it traded between mirror level and support area. And after Euro declined fell to support line, which coincides with support line of falling channel, it made upward impulse. Euro rose to $1.1120 level, broke it, and even later rise higher of resistance area to resistance line, thereby forming pennant pattern. But recently, price declined back to resistance area, exiting from pennant, and now trades very close to $1.1120 support level. I think that Euro can fall to support level, bounce and then start to move up to $1.1200 If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
16
AVGO: Bullish Pennant, confirmed (29,16%)(10/1000)(10/1000) Confirmed Bullish Pennant pattern for AVGO. 29.16% possible gains. Pros: 1- PPS above 50MA and 200MA 2- RS above 0 and climbing 3- R/R ratio above 5 4- 250RSI above 50 and climbing 5- 50MA above 200MA 6- Both 50MA and 200MA ascending 7- Golden cross circled in blue 8- Descending volume during flag forming 9- Volume during post forming 10- Break out with volume Cons: 1- ATR descending, less volatile Target price is 1048,47$ Stay humble, have fun, make money! MAAX
NASDAQ:AVGOLong
by LeLaf
BITCOIN - Price can leave pennant and continue to move upHi guys, this is my overview for BTCUSDT, feel free to check it and write your feedback in comments👊 Recently price declined to support line, thereby breaking support level with support area inside falling channel. After this, BTC bounced from support line and made strong upward impulse to current support level, which coincide with support area. As well, price left a falling channel too, and after impulse Bitcoin some time traded near $29850 level. Also later, price reached resistance line, thereby forming pennant pattern, and fell to support level, where it continues to trade to this day. In my mind, Bitcoin can break resistance line and rise a little, after which make retest to support level. And then, I think that price can continue to grow to $31100 level. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
13