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Targets

How to detemine Targets for Pennant BreakoutsThe target for a pennant breakout should be determined by the height of the pennant In this example the height was 165 pips. The price reached broke out and reached 161 pips. Of course, it's not always perfect but it's close enough. A similar example can be seen in last weeks pennant break out on EURUSD. However, on the EURUSD example, when price broke out it did a retest and then continued to the target. Retest do occur, so be weary of moving your stop too early and then missing the main move Thanks for reading.
Education
by jannatul96
IOTA For obvious reasons with the crypto market i would wait for more of a signal until entering a trade but my prediction for iota. would wait for a decent cross of the 50ema before making a trade unless you have just bought iota on the low then watch for some resistance at the 50 ema to see if you want to take profit at TP1, if we see a break though next targets i think are possible over the rest of the month. will be keeping my Stop Loss close. could possibly see another heavy sudden cliff drop again in cryptos (Bitcoin) but staying optimistic is usually more fun. I will be more worried by a subtle decline. targets TP1 8389 TP2 9435 (these targets may take longer) TP3 10260 TP4 11101 TP5 12296 TP6 13796 Stop Loss SL1 6948 SL2 6735
Long
by timmytg
3
BTC/USD: Now where was I? Let's pick up where we left off..Weak volume and RSI still a bit too high. Notice green dots on chart. Almost there. However, clear uptrend based on multi year line. Lower highs seem to be converging with higher lows overall on the macro level. Much more consolidation within an increasingly tighter range is likely (e.g. 6100-6400) for the next few months or so, until buy volume pushes us out of this micro down trend. *Premise of this analysis: 5800 is well supported. If that is broken, this trading paradigm is invalidated. 1. 6500 was clearly rejected today with decent resistance. But yet still not safe enough to short, unless scalping or day trading vigilantly. 2. I'm not gonna fight for scraps at 5800, and would rather layer in some longs a little higher around 5880, with a SL at 5799. This way I can sleep at night! 3. Target 6800. Needs to break this key level with volume in order to push further to 7500, and beyond. Might consider closing long at 6800 or taking profit, whatever suits your strategy best. If 68 fails, might be a nice short, but too early to tell for a newb charter like me :-) I learn something from everyone, so please share your take on this. ****Good luck...we're all counting on you!
BITMEX:XBTLong
by NoFomo489
It's been a long time. GBP/USD Has established a bit of upside momentum and we are now ready to put in some trades. We are going long and are ready to buy the pound inside 1.31700-1.31820 area. This trade has a good conviction rate and even better risk reward ratio, like we always try. Drumroll please.... 5:1 Ratio for the risk/reward. Unless we get some negative fundamental update from brexit, we should be hitting those targets before the end of this week. Happy trading, Go #WOLFPACK !!
Long
by FXAN