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Pennat

ACT/USDT Descending Channel Breakout The chart highlights a bullish Descending Channel pattern, signaling a potential upward breakout. The price is consolidating near the upper boundary of the channel, suggesting strong momentum buildup. A 4-hour candle close above the trendline would confirm the breakout, triggering a potential rally. Key Observations A well-defined descending channel indicates a bullish reversal setup. The current price near $0.43 is poised for a breakout with strong momentum. Target for the move lies at $0.60, aligning with prior resistance levels. Strategic Implications Wait for a confirmed 4-hour candle close above the upper trendline for long entries. A retest near the $0.40 support zone could offer a favorable risk-reward entry. Utilize proper stop-loss levels to mitigate risks and avoid false breakouts.
Long
by wsaetos
XRP/USDT Bullish Pennant Formation in ProgressThe chart illustrates a textbook Bullish Pennant pattern, suggesting the potential for upward price movement. Currently, the price action is encountering resistance near the upper trendline, indicating that a breakout may require additional consolidation. Key Observations 1. The pennant formation remains structurally intact, with the price consolidating within a narrowing range. 2. A confirmed breakout above the upper trendline is essential to validate the bullish thesis and initiate a sustainable upward move. 3. Upon a successful breakout, the projected target lies between $2.80 and $3.00, aligning with historical resistance levels. Strategic Implications Patience and discipline are paramount. Monitor closely for a decisive breakout with strong volume confirmation. Until then, be prepared for further consolidation or a potential retest of the lower trendline as the market gathers momentum.
Long
by wsaetos
3
XAU/USD | Trend Reversal - Time to Buy!👋 Good day, traders! Let's delve into a couple of potential scenarios: 📉 After XAU has worked off its local lows and returned to its previous positions on D1, it's now shaping a new upward trend. Following a minor correction to $1920, a "Pennant" continuation pattern has formed. Upon breaking the resistance level at $1935.00, it's poised to continue its ascent towards target levels of $1960.00 and $1980.00. I recommend considering buys from an aggressive level of $1945.00 and a conservative level of $1938.00, with a potential profit range of 0.8% to 2.0%. Set your SL at ~$1930.00. ✅ Give a 👍 if you're keen on more insightful and profitable trading ideas❗️ ❓ I'd love to hear your thoughts. What's your take on this? DISCLAIMER: This idea is purely informational and educational. It's not a trading recommendation. Each trader should analyze and make decisions based on this information independently.
OANDA:XAUUSDLong
by Maxim_Lushnikov
XRP Bull Pennant on DailyFlags and pennants are patterns that I find are overly relied upon in crypto, and they often fail. I like this forming pennant, however, when coupled with the market sentiment. In particular, XRP has been on fire and we are testing a major psychological level at $0.50. I wouldn't long resistance - But I am already in a along position since low 40s. If I wasn't, I would not enter this trade until the price breaks out of the pennant to the upside, for confirmation. A breakout could happen here, or touch the bottom of the flag once more before going back up. I will keep a close eye on XRP for a breakout, and will have alarms set. Also my recent idea about BTC volume flow flipping in bull's favour (link below), has me thinking the market is ready to move a bit higher, and I think BTC will hold support at $20k, and move up to the next level, which will give more support to this idea. If BTC falls through $20k before this pennant breaks out, I will consider abandoning the idea altogether. The stop loss target, set at the most recent swing low is at $44.9 and sits perfectly behind another psychological level. The target is set slightly below the pole height, at $63.8. The pole reaches a bit above $0.65, but I think it will correct hard at $0.65 or even at $0.64. Keep in mind that $63.8 is an ideal scenario where the breakout shoots almost straight up with no faltering. If we have signs of trouble along the way I will not hesitate to sell, even somewhere in the mid 50s. I've been enjoying some market success, but I am a fairly inexperienced trader so don't go copying my trades. None of this is advice, just my idea.
Long
by D-Rock_Anomaly
✅COPPER BULLISH PENNAT|LONG🚀 ✅COPPER has retested an important price level And is now consolidating below it In a bullish pennant pattern I am bullish on the metal As the transition to the "Green" economy With EV's and Wind Turbines will require massive Amounts of this commodity, so I am waiting for a breakout And then will be expecting a bullish wave With the first target being the recent high But I am sure the price will go much higher still LONG🚀 ✅Like and subscribe to never miss a new idea!✅
COMEX:HG1!Long
by ProSignalsFx
10
a possible RSHS for weekly tradersFirst of all, This is a long term prediction. It may be affected by the price movements in BTC and the probability for it to happen is relatively low. The thing is that knowing the resistance and support levels/areas may help you to trade and predict price movements effectively. Regarding those possibilities, there are some BUY and SELL areas. In my opinion, The price is forming a Pennant formation whose target is the neck of Reverse Shoulder Head Shoulder formation. If it can't break those area, ( which is also possible SHORT position with at most 3% stop loss), It may fall to the peak of left shoulder. At that point, a new long position can be taken with again at most 3% stop loss. All positions should be taken regarding the price of BTC and get a confirmation. Open for any comments, ideas, critics ^^.
Long
by bahadirkisbet
Bullish patterns in tradingToday there are several popular bullish patterns on the Forex market. 1. Flag - trend continuation. Has a strong price movement (flag staff), then a correction zone (flag cloth). The correction zone can be located both horizontally and inclined to the "shaft". 2. Cup Or else "cup with handle. U-shape + corrective movement (" handle ") within 1/3 of the" cup. "Formation of the" handle "is the process of price consolidation towards the line. After the pattern is formed, the price continues to move in the direction of the cup. 3. Symmetric triangle It can be either a reversal or a continuing trend. Formed between two converging support and resistance lines. You can start trading after the breakout of the pattern (depending on the breakout, either buy or sell). 4. Diamond Reversal pattern formed at local highs and lows of the price chart. The basis is either an uptrend or a downtrend. Completion options - correction or global trend reversal. 5. Double bottom. It is based on a downward movement + two chart lows and a high point between them. Completes the formation after breaking through the base line. Further - the price growth from the base line in the volume of the figure size. 6. Pennant Continuation of the main trend. Price gaps are possible prior to the formation of the pattern. In a bullish scenario, the pattern is preceded by an uptrend. Completion of the pattern formation - a breakout in the direction of the previous trend. -------------------- Share your opinion in the comments and support the idea with likes. Thank you for your support!
Education
by DeGRAM
13
Pennant pattern is forming in ETH|USDT chart, great oportunity ! Let's see if we can make nice profit like yesterday by trading this pennant. Those who read my post yeastersay and took advantage of it, made 100% profit, lets try to repeat it today. Our set-up for this pattern will be the same as in my previous cases. As soon as green candle closes above resistance line, we will enter our trade and keep on placing trades on green candle untill we are stopped out by a red candle. If you never heard of "color options", then please follow me to learn more, or ask me in the comments. Thanks.
Long
by Candle_Trader
Ripple(XRP) How to trade next 7 days.Goodnight traders, What a week Cardano and Neo just had...with still lots of room for grow! What about XRP? Lets find out... Here we are looking at the Ripple 4h chart,we can see price is currently forming a pennant wich is breaking out soon. How to trade? 1st- We wait for breakout for buy confirmation. 2nd-Sell in your desired green targets. You can sell 50% on 1st target, and the other 50% on 2nd target. 3-If price breaks down,wait for the blue box for buying again! If you like my Trading posts be sure to leave a BIG like, or comment below! I will update when needed. Mr.TTT
BITFINEX:XRPUSDShort
by RodrigoFAC
2