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Pennantpattern

Will Gold Hit New Heights?Current Price: 2653.84 Multi-Timeframe Analysis: • 4H Chart: Symmetrical Triangle (Bullish Continuation) • 1D Chart: Pennant (Bullish Continuation) • 1D Chart: Long-Legged Doji (Indecision) Given the bullish signals from both the symmetrical triangle and the pennant patterns, along with the long-legged doji indicating indecision, the market is likely to be bullish. Watch for a breakout above the upper trendlines in both patterns, confirmed by strong volume, to capitalize on potential upward momentum. Price Target Break Out: 2685 | 2728 | 2750 Price Target Break Down: 2627 | 2575 Happy Trading!
OANDA:XAUUSDLong
by SpicyPips
Will the Price Bounce or Break?1H Timeframe Analysis Current Price: 0.67940 Bearish Outlook: 1. 1W Chart: Bearish Engulfing (Reversal) 2. 1D Chart: Shooting Star (Reversal) 3. 4H Chart: Rising Wedge (Reversal) 4. 1H Chart: Pennant (Continuation) The price is currently at the lower trendline of the Rising Wedge. With the Pennant pattern in play, we expect a drop to 0.67755. If strong support is found here, the price may bounce back to the major resistance at 0.68350. Due to this resistance, a reversal could push the price down to 0.67444, with potential bounces at support levels before aiming for ultimate support. Bullish Target: 0.68350 Bearish Targets: 0.67755 0.67444 0.67139 Good luck, traders!
Short
by SpicyPips
KPIGREEN : PENNANT FORMATIONNSE:KPIGREEN has recently experienced a significant bullish run, pushing its stock prices to new highs. Following this surge, the stock appears to be forming a classic pennant pattern, which is a continuation pattern often indicating that the prior trend will resume after a period of consolidation. Breakout Potential: If NSE:KPIGREEN breaks above the upper trendline of the pennant with increased volume, it could signal the continuation of the bullish trend. Traders might look for a breakout above the resistance level as a buy signal. Target Price: The height of the initial flagpole (the previous uptrend before consolidation) can be projected from the breakout point to estimate the potential upside target. Stop Loss: To manage risk, consider placing a stop-loss order just below the lower trendline of the pennant. This helps protect against downside risk if the pattern fails and the price breaks below support. As always, proper risk management and due diligence are essential when trading pattern formations.
NSE:KPIGREENLong
by VanshikaUdeshi
Sell GBPAUD UK Interest Ratethe GBP/AUD pair on the M30 timeframe presents a potential shorting opportunity due to the presence of a bearish pennant pattern. Potential Short Trade : Entry: Consider entering a short position (selling) below the broken support trendline of the pennant after confirmation. Ideally, this would be around 1.9000 or lower if the price continues to decline. Target Levels: 1.8871: This target is achieved by measuring the height of the flagpole (initial downtrend before the pennant) and projecting it downwards from the breakout point. 1.8807: This is a further extension of the downside target, based on roughly twice the height of the flagpole. Stop-Loss: Once the entry point is confirmed, place a stop-loss order above the broken support line of the pennant, ideally with some buffer around 1.9042. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards. Thank you
Short
by KABHI_TA_TRADING
9
BTC's Situation: What Shall we ExpectHi. BINANCE:BTCUSDT Today, I want to analyze BITCOIN for you in a 1D time frame so that we can have a MID-term view of BITCOIN regarding the technical analysis. (Please ✌️respectfully✌️share if you have a different opinion from me or other analysts). ➡️ BITCOIN is in a Bullish Flag Pattern.The Price is gonna Increase soon,The break out needed for increasing further has not happened but it should happen pretty soon. ✅ Due to the Ascending structure of the chart... 🟢 BITCOIN has been Bullish Recently! 🟢BITCOIN is in a Bullish Flag 🟢(AB=CD) 🟢Price is gonna Reach GETTEX:92K Stay awesome my friends. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ ✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟! ⚠️Things can change... The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
Long
by CobraVanguard
Buy EURGBP Bullish PennantThe EUR/GBP pair on the M30 timeframe presents a potential buying opportunity due to the presence of a well-defined bullish pennant pattern. This pattern often suggests a continuation of the prior uptrend after a brief consolidation phase. Key Points: Buy Entry: Consider entering a long position (buying) around the current price of 0.8576, positioned near the support line of the pennant. This offers an entry point close to the perceived continuation of the uptrend. Target Levels: Initial bullish targets lie at the following levels: 0.8616: This represents the height of the pennant, measured from the top trendline to the bottom trendline, projected upwards from the breakout point. 0.8640: This is a further extension of the upside target, based on the height of the previous price movement before the pennant formation. Stop-Loss: To manage risk, place a stop-loss order below the support line of the pennant, ideally around 0.8560. This helps limit potential losses if the price breaks down from the pennant pattern. Thank you
Long
by KABHI_TA_TRADING
1
Follow-Up Analysis on FSL: Confirmation of Pennant BreakoutBuilding upon the analysis conducted yesterday, it is observed that NSE:FSL stock has successfully experienced a breakout upside from the Pennant pattern. Today's price action has confirmed the Pennant pattern breakout, signaling a continuation of the prevailing uptrend. The breakout is characterized by a decisive move above the upper trendline of the Pennant, validating the technical analysis shared in the previous report. Target Projection: The target for this trade can be estimated by measuring the height of the pole formed before the Pennant pattern. The pole is the strong, vertical price movement that precedes the consolidation phase. To calculate the target, this measured distance is then added to the breakout point. To protect against adverse price movements, a strict stop-loss order should be implemented. The stop-loss level is determined based on the characteristics of the Pennant pattern and should be placed just below the lower trendline of the pattern.
NSE:FSLLong
by VanshikaUdeshi
2
FSL : PENNANT FORMATIONUptrend Observation: The first notable aspect of NSE:FSL stock is the sustained uptrend it has displayed over a significant period. This bullish movement is characterized by higher highs and higher lows, indicating a strong buying interest in the market. Identification of Pennant Pattern: A Pennant is a technical analysis pattern that resembles a small symmetrical triangle, often forming after a strong price movement. The Pennant is typically considered a continuation pattern, suggesting that after a brief consolidation period, the prevailing uptrend is likely to resume. Key Characteristics of a Pennant: Symmetrical Triangle: The Pennant pattern is characterized by converging trendlines, forming a symmetrical triangle. This indicates a temporary balance between buyers and sellers. Decreasing Volume: During the formation of the Pennant, there is often a decline in trading volume. This reflects a contraction in market activity as the stock consolidates. Duration: Pennants are generally short-term patterns, with the consolidation phase lasting anywhere from a few days to a few weeks. Traders and investors who recognize the Pennant pattern in NSE:FSL stock may consider implementing a trading strategy based on a breakout. The breakout occurs when the stock price breaches either the upper or lower trendline of the Pennant pattern. Long Position: A trader might take a long position if the stock breaks out above the upper trendline, signifying a potential continuation of the uptrend. Short Position: Conversely, a short position could be considered if the stock breaks below the lower trendline, suggesting a possible reversal or downtrend. Regardless of the chosen direction, implementing a sound risk management strategy is crucial. Setting a stop-loss order just outside the boundaries of the Pennant pattern can help mitigate potential losses in case the breakout does not follow through as expected.
NSE:FSL
by VanshikaUdeshi
XRP Long Term Bullish OutlookCRYPTO:XRPUSD long term is very bullish. I measured that we will hit the target profit $27 around early to mid 2025 based on the previous 1 year pole. You can see the formation of rally-consolidation-rally with a bullish pennant consolidation. RSI is looking good too, i'm certain it will close with a crossing but you can wait until december closing to make sure. Also outside of technical analysis, xrp or ripple is very good fundamentally and narratively. The narrative of CBDC will be major if the world government implement this globally, i think it will be implemented in 2024 or 2025. It's best to buy XRP now.
CRYPTO:XRPUSDLong
by UnknownUnicorn25768508
20
🚧ADAUSDT is Bullish now🚧 & many Traders don't see it 👀!!!Hi every one ➡️ADA has done a Impressive Movement recently but the odds of another bullish Movement is Pretty high because the pattern which ADA is in, Is a Bullish Pennant Pattern! Since The break out has not happened, there is no confirmation of a Bullish Movement But If It happens, we Can Expect a Bullish Movement as much as the Measured Price movement (Pennant pole) to happen! 🟡Summery: -ADA has been Bullish Recently! -The odds of another Bullish Movement is High! -Bullish Pennant is Visible on The chart! -No break out yet! 🤑Stay awesome my friends. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ ✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟! ⚠️Things can change... The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
Long
by CobraVanguard
5
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
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