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Pennant

Euro can exit from penannt and break resistance levelHello traders, I want share with you my opinion about Euro. Observing the chart, we can see how price bounced up from 1.0790 level and made upward impulse to seller zone, thereby breaking one more resistance level. Later, Euro started to decline, bouncing from seller zone and making strong downward impulse below support area to support line. Also, price entered to pennant, in which Euro continues trade close resistance area now. After this pattern, I think Euro can break current resistance level and then make retest. But also, I think maybe price can don't make retest, after breakout, it can at once continue to grow. For this case, I set my target at the 1.0880 level. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
14
BITCOIN - Price can bounce of support line and exit from pennantHi guys, this is my overview for BTCUSDT, feel free to check it and write your feedback in comments👊 A few days ago price bounced down below $26830 level, but soon started to grow inside from rising channel. In channel, BTC broke resistance level again and even made fake breakout, but later started to fall. When Bitcoin fell to support level, thereby exiting from channel, price entered to flat. Then price broke $26830 level and bounced down to next level which coincided with support area. And at once price made upward impulse to resistance line, but soon fell back, and now trades close support line in pennant. In my mind Bitcoin can make correction to support line and then bounce up to $26415, thereby exiting of pennant. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
20
OPHR.CA: Bullish Pennant, not confirmer (75.84%)Bullish pennant for OPHR on TSX. Not confirmed yet. Gold company, mining industry. Pros: 1- PPS above 50MA and 200MA 2- RS above 0 but barely 3- R/R ratio above 5 4- 250RSI above 50 5- 50MA above 200MA 6- Both 50MA and 200MA ascending 7- Golden cross circled in blue 8- Post formed with volume 9- Descending volume during pennant forming Cons: 1- Figure is not confirmed 2- No break out yet 3- ATR flat If confirmed, target price is 0,73$ Again, stay humble, have fun, make money! MAAX!
TSXV:OPHRLong
by LeLaf
RML.CA: Bullish pennant, not confirmed (88%)Bullish pennant for RML on TSX. Not confirmed yet. Mining industry has been on an uptrend for some time now. Pros: 1- PPS above 50MA and 200MA 2- RS above 0 and climbing 3- R/R ratio above 5 4- 5- 50MA above 200MA 6- Both 50MA and 200MA ascending 7- Golden cross circled in may 2023 8- ATR climbing, more volatility 9- Post formed with volume 10- Descending volume during pennant forming Cons: 1- Figure is not confirmed 2- No break out yet 3- 250RSI No data yet. Young stock. If confirmed, target price is 0,34$ Again, stay humble, have fun, make money! MAAX!
TSXV:RMLLong
by LeLaf
2
NILI.CA: Bullish Pennant, not confirmed (78%)Bullish pennant for NILI on TSX. Not confirmed yet but metal for batteries is a hot topic right now. 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- ATR climbing 9- Post formed with volume 10- Descending volume during pennant forming Cons: 1- Figure is not confirmed 2- No break out yet Target price is 1,13$ Again, stay humble, have fun, make money! MAAX!
TSXV:NILILong
by LeLaf
EURO - Price can make correction and then bounce upHi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊 Bounced up from support area, price start to rise close support line and reached $1.1095 point. Also, Euro entered to pennant, but price started to decline and soon fell to area, thereby exiting from pennant. Later price broke support level and fell to support line, close to which Euro started to decline. Price even made fake breakout, but soon continue to fall and a few time later Euro declined below $1.0710 level. But recently Euro entered to rising channel and rose higher of this level. Now price continues to trade inside channel and in my mind, Euro can make a little correction and then bounce up to $1.0830 point. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
18
RIPPLE - Price can break resistance level and make retestHi guys, this is my overview for XRPUSDT, feel free to check it and write your feedback in comments👊 A few days ago price trades close suppot area $0.4190 - $0.4135 and later bounced up to resistance level. Also, Ripple entered to pennant, where it broke resistance level and then made correction to this level. Later price bounced up from support level and entered to rising channel. In channel, price broke next level and even make fake breakout, but at once fell and continue to grow inside channel. After channel, price started trading in triangle, where it reached $0.5400 point and made downward impulse below support level. At the moment Ripple trades close to this level and possibly price can break it, make retest, and continue to grow to $0.5170 If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
6
RUM - Two Technical Patterns Warrant AttentionLarger Pattern - Triangle and Upside Risk NASDAQ:RUM In the making now for 5-6 months. Projects to ~$14.50 on a bullish resolution but would need to give it up to 6 months to achieve that level. Assuming this target is achieved then the overall downtrend line originating from the all-time high becomes the next technical target which is above $15 and declining at the current time. Smaller Pattern - Pennant and Upside Risk In the making for approximately a month. Projects to ~$11.80 on bullish resolution in 3 - 5 weeks. Confirmation Look for a close and a sustained move above $10.30 on higher volume. This area represents the upper resistance for essentially both patterns at roughly this point in time and a move above this area would represent a bullish resolution to both patterns. Targets noted assume bullish resolution in the short-term. Downside Risk Failure of smaller pattern points to the lower trendline of the larger pattern. Failure of the smaller pattern can also indicate an enlargement of the pennant but would arguably weaken the potential. At prima facie a break below the pennant would be bearish. Below that look for support areas indicated. Failure of the smaller pattern would reduce the bullishness overall but could have the larger pattern remain in play as a potential.
NASDAQ:RUM
by Mr_Anderson_007
1
Gold pennant potentialTrade Idea: Buying Gold Reasoning: • Weekly – Potentially forming a Morning Doji Formation (Bullish) • Daily – Bullish engulfing candle yesterday (Bullish) • 4hr - Price action above downward trend resistance and Ichimoku cloud (Bullish) • 1hr – Forming Bullish Pennant (Bullish) Entry Level: 1964.745 Take Profit Level: 1983.725 Stop Loss: 1959.139 Risk/Reward: 3.39:1 Disclaimer – Signal Centre. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis, like all indicators, strategies, columns, articles and other features accessible on/though this site is for informational purposes only and should not be construed as investment advice by you. Your use of the technical analysis, as would also your use of all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features.
OANDA:XAUUSDLong
by Signal_Centre
1
GBPUSD - Price can bounce from resistance line and start to fallHi guys, this is my overview for GBPUSD, feel free to check it and write your feedback in comments👊 When price broke support level and area, it declined to $1.2465 point and then bounced up to area. Next British Pound continued to decline inside from falling channel, where it broke $1.2395 level and fell to support line. But at once, price bounced up, made strong upward impulse to resistance area, thereby leaving channel and breaking $1.2395 level again. Also, British Pound entered into pennant, in which firstly price fell to support line, but recently backed up. At the moment price trades close resistance line and maybe it can bounce down from this line. After this British Pound can start to decline to $1.2385 support line. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Short
by WalterMoon
2
BITCOIN - After exiting from pennant, price can continue to growHi guys, this is my overview for BTCUSDT, feel free to check it and write your feedback in comments👊 After price bounced down from resistance area, it entered to flat, where BTC declined below support level. Later, price tried to back up, but failed and made strong downward impulse to support line, thereby exiting from flat. Then BTC started to rise near support line and a few times later bounced up higher of resistance area and level. Next, price made correction to area bounced up, and entered to pennant, where it fell below support level. But recently, price bounced up of support line, exited from pennant, and now trades close support line. In my mind, Bitcoin can bounce up of support line and start to grow to $27760 If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
19
USDCHF - Price can start to decline and break support levelHi guys, this is my overview for USDCHF, feel free to check it and write your feedback in comments👊 Inside from rising channel price bounced from resistance level and fell to support line. Then Swiss Franc made upward impulse to resistance area, thereby breaking resistance level, and exited from channel. Next, price bounced down of resistance area, which coincided with $0.9060 level and declined to past level. Also, price entered to pennant, where it rose higher of resistance area and level. After this Swiss Franc made correction to support line, but recently backed up and now trades close to resistance line. In my mind, price can bounce down of this line and fall to $0.9020, thereby breaking support level and exiting from pennant. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Short
by WalterMoon
1
Techno-Funda pickHero Motor is consolidating since Feb 21 and now it has given a Pennant / Bullish wedge breakout with good Volume. Hero is a market leader and consistently showed great growth on YOY basis. Still there is a significant upside left for the stock so in my opinion, one can do SIP in this stock without being worried for Stop loss simply because it has a great fundamentals. Buy it in instalments or on each dips and there will be few resistances before it tests its all time high ie 4000. CMP - 2892 W (6/3/23) T - 3100, 3500 W SL - 2700 W
NSE:HEROMOTOCOLong
by AbNamjoshi
FINNIFTY Expiry Day Trade Setup (30-May-2023)This will be my personal trade Setup, This is not an advice of any kind to initiate trade according to this setup. This is for only for my learning purpose and maintaining my trading journal. So with gap up today and from days price action forming like pennant or bull flag. Breaking this pattern could give good move if price opens flat only. For trade setup: 1.) If open flat will look for break of this pattern on either side if breaks on upside target will be Today's High (19615) then 19630. On Break of downside target will be 19431 then 19392. 2.) If opens gap up then will wait for price action to form and will trade only if it forms some pattern or if there is good setup. 3.) If open gap down setup will be same as point 2. As on expiry due to theta decay and because of some gamma moves premium values erode fast and they won't gain. so will only trade solid setup with small stop. Hit like to keep me motivated for keeping my trading journal as it only take less then few seconds to hit like but it gives me motivation for preparing for my session. Also one can comment on how I can make this trade journal better any improvements I need in it :) .
NSE:CNXFINANCE
by TradeInsights
RIPPLE - Price can break resistance level and continue to growHi guys, this is my overview for XAUUSDT, feel free to check it and write your feedback in comments👊 When price bounced from resistance area which coincide with resistance level, it made downward impulse. Next, Ripple fell below two support levels and also entered to flat. After flat, price started to trade inside from pennant, where it reached resistance area. But soon, Ripple exited of pennant, entered to falling channel, and fell lower $0.4510 level. And recently price made upward impulse to resistance area, which coincide with resistance level. At the moment Ripple trades near resistance level inside this resistance area and possibly price can break this level and make retest. As well later, price can continue to grow to $0.4840 level. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
1
RIPPLE - Price can bounce up of support level and start to growHi guys, this is my overview for XRPUSDT, feel free to check it and write your feedback in comments👊 A few days ago price bounced from support line to resistance line, thereby breaking resistance level. After this Ripple made correction to support level and later backed up to resistance line again. Then price bounced down and made strong downward impulse, thereby breaking support level and line. Next price started trading inside from flat, and after flat, Ripple entered to pennant. In pennant, price broke resistance level and now trades very close to this level. In my mind, Ripple can make correction to support level and then bounce up to $0.4700 Thereby price exits from the pennant as well. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
8