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.
Pennantrising
API3 BULLISH PENNANT PATTERNThroughout this week, BINANCE:API3USDT had a gain of more than 50% in a span of two days as of this writing.
Currently, the coin is moving sideways after a major bullish move and is expected that the price will consolidate and wait for a possible bullish pattern- true enough we saw a bullish pennant.
I will update my chart analysis for API3 in the chart on the idea threads below. Happy trading!
ONMOBILE: PENNANT FORMATIONNSE:ONMOBILE Is forming Pennant. The trade should be taken only after confirmation of pattern that is after closing of candle above pattern. Target and stoploss for the same are given
GRTUSDT is inside a PennantGRTUSDT is creating a pennant below the 4-hour resistance level, following a previous bull run.
A pennant is a technical chart pattern that is formed when the price moves within converging trendlines, forming a symmetrical triangle shape. The pattern is characterized by a sharp price move in either direction, followed by a consolidation phase where the price forms lower highs and higher lows. The pennant pattern typically indicates a continuation of the previous trend, which in this case was a bullish trend.
In this scenario, the market is consolidating after a strong bullish run, which could indicate that the market is gathering new liquidity. The previous support level at the 0.15$ area could act as a source of liquidity, as traders who missed the previous bull run may be looking to buy at a lower price.
To apply Plancton's Rules in this scenario, traders should wait for the breakout from the current resistance level to be confirmed before opening a new long position. This means waiting for the price to break through the upper trendline of the pennant and establish new support.
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Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> <= 1h structure.
Follow the Shrimp 🦐
AXSUSDT is creating a pennantThe price is creating a pennant on the 4h timeframe. The market is creating higher low higher high, it means that the we are in consolidation phase.
Usually Pennant is a continuation pattern.
How to approach it?
We are monitoring the 19.5 support where the price created a equal lows. so if the price is going to have a breakout and retest this support as new resistance, According to Plancton's strategy , we can set a nice order
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Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
–––––
Follow the Shrimp 🦐
$SGLB entry PT 3.57 Target PTs 9-15-24-80 and higherSigma Labs, Inc., a software company, provides in-process quality assurance software to the additive manufacturing industry under the PrintRite3D brand. It also offers PrintRite3D Lite, which has a smaller footprint and is geared towards single-laser machines for research and development, or small production lots; PrintRite3D Pro, for single, dual and quad laser machines and for environments with less than 10 machines; PrintRite3D Enterprise for plant-wide networks; and PrintRite3D for Direct Energy Deposition is based on a laser process in which a laser beam generates a melt pool on a substrate. The company also provides PrintRite3D-enabled engineering consulting services. It serves aerospace, defense, oil and gas, bio-medical, and power generation industries. The company was formerly known as Framewaves Inc. and changed its name to Sigma Labs, Inc. in September 2010. Sigma Labs, Inc. was incorporated in 1985 and is headquartered in Santa Fe, New Mexico.
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:
Trade Ideas Educator: GBPJPY PennantAt this moment GBPJPY is at the sell zone, having that said on the 1-hourly chart(left) the market has breakout towards the upside of the consolidation pattern, the pennant which happens to be 1 of my favorite setup.
If the market breakout to the upside where is it most likely to go? The tip of the sell zone and the bearish shark entry price.
What's your trade plan on this? Comment down below.
Personally, I'm going to wait for a retracement on the 1-hourly chart(left) back into the buy zone and with for RSI Divergence for a long opportunity.
US 30 in Three Drives within Converging Pennant: ATH Soon?Had a Fib convergence on 10/08. If index holds this level expect turn to higher price leading up to FOMC. 0.25 rate cut is already baked in. Not betting on this one.
IMO index is approaching the ATH and Bear market to follow. This pennant points at 23 July next convergence. Too soon to short IMO; watch, wait, go to the beach!
Trade at your own risk. I'm out on this; watching/waiting in cash. GLTA!
BTC/USD Bearish pennant Hi guys, I am still bearish medium term but who knows for short-term, Bulls need to break 7700. well, our market cap still going down we're over 185,260,417. USDT , After that sharp drop in price, some sellers close their positions while other sellers decide to join the trend, making the price consolidate for a bit. As soon as enough sellers jump in so we’d put a short order at the bottom of the pennant with a stop loss above the pennant.
Thank you all <3
