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Pennantpattern

1INCHUSDT is ready for the moon 🌝🦐$INCH.X is inside a pennant, and the price already tested 1d resistance. IF the price will have a breakout and flip the current daily resistance into new support According to Plancton's strategy (check our Academy), we can set a nice order ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis, please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Long
by InkyGrip
18
NANO/USD Bull PennantBull Pennant has formed on NANO... Following a bounce off the bottom of the pennant I am anticipating a run up back to the top resistance line and another attempt at a breakout...If a breakout does occur there will be some really nice quick upside to $5+... If a breakout is rejected it will be very important to watch price action closely as a break through of the bottom support line could bring some major downside to the $1.00-$1.50 level
KRAKEN:NANOUSDLong
by LivermoreGrahamDisciple
4
YFIBTC is inside a bullish pennant 🦐$YFI.X is testing the daily resistance. IF the price will have a breakout and turn the current resistance into new support, According to Plancton's strategy (check our Academy), we can set a nice order ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis, please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Long
by InkyGrip
4
EURGBP - What Is a Pennant?What Is a Pennant? In technical analysis, a pennant is a type of continuation pattern formed when there is a large movement in a security, known as the flagpole, followed by a consolidation period with converging trend lines—the pennant—followed by a breakout movement in the same direction as the initial large movement, which represents the second half of the flagpole. Pennants are continuation patterns where a period of consolidation is followed by a breakout used in technical analysis. It's important to look at the volume in a pennant—the period of consolidation should have lower volume and the breakouts should occur on higher volume. Most traders use pennants in conjunction with other forms of technical analysis that act as confirmation. Understanding Pennants Pennants, which are similar to flags in terms of structure, have converging trend lines during their consolidation period and last from one to three weeks. The volume at each period of the pennant is also important. The initial move must be met with large volume while the pennant should have weakening volume, followed by a large increase in volume during the breakout. Here's an example of what a pennant looks like:
Education
by Yuriy_Bishko
5
NEA - Bullish Pennant in Formation I believe that there is a great buying opportunity in NEA, as it has been forming a clear Bullish Pennant since the end of August. It is clearly a continuation pattern and has been consolidating within this pennant. If Price Breaks this pennant with High Volume, this may be a sign that Price may continue pumping up with force and reach the (Resistance 2 - Zone) nearly $3.10 with a potential gain of nearly 32%. Price may even hit the Strong Resistance Zone of nearly $3.90, which may provide a gain of 62%. I believe this is a great medium term buying buying opportunity. Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
NLong
by AsimMirzaTrader
2
GBPJPY, 4hr tf, pennant / flag pattern to materializedHello my friends, Today was such a good day, my trade managed to hit TP for 4.4R and i banked 8.8% profit. I started to get my edge back and i am going to post more positions for everyone to trade. My first setup for today is GBPJPY. To me, the recent sideways movement looks like a pennant / flag pattern and today i finally see price retest those broken support. We could expect price to continue decline on GBPJPY as the measured objective of this pattern is 275 pips. Nearest support is arond 136.30 area so we will try to sell GBPJPY and see if price could touch this support. Sell GBPJPY 137.80 Stop loss 138.30 Take profit 136.30 (3R) RR Ratio 1 : 3 Use only 1-2% profit Good luck
Short
by HayatoDragonFX
1
KAVABTC is creating a bearish pennant 🦐KAVABTC is creating a bearish pennant after the price bounced on the 0.5 Fibonacci level. IF the price will have a breakout from weekly support and flip into weekly resistance According to Plancton's strategy (check our Academy), we can set a nice order ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis, please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Short
by InkyGrip
UNI: Long setupHere is a setup i have worked on for a long position. It is well detailed for better understanding. So these are possible scenarios that might happen. If bitcoin remains bullish the next few days, the scenario with the green line as drawn on the chart will most likely happen (from my P.O.V). I have a long position on this crypto and i might keep holding unless it starts showing bearish signs. Orange square is the buy area Red line is SL. Good luck. Like and follow to support me.
Long
by MarketSniping
LINKBTC is creating an inverse head and shoulder 🦐LINKBTC is creating an inverse head and shoulder after the price bounced on weekly support. Now the price is forming a bullish pennant and it's testing 0.618 Fibonacci retracements. IF the price will have a breakout upward According to Plancton's strategy, we can set a nice order ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis, please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Long
by InkyGrip
12
BTCUSDT is creating a bullish pennant 🦐BTCUSDT is creating a bullish pennant below the weekly structure. IF the price will have a breakout upwards and retest the pennant, According to Plancton's strategy, we can set a nice order Daily Weekly Monthly ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis, please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Long
by InkyGrip
4