Bullish Pennant
Bullish Pennat spotted! All sail ahead!Gold had make a strong upward movement last 2 weeks, giving us the flag pole. however, the pattern is not a flag pattern but a bullish pennant! It is currently testing the new support line (previous resistance line). If the support holds, going LONG is a good idea.
This Idea is solely my personal opinion and it is not a entry signal. Trading leveraged assets also are very risky!
New beginners view of BULLISH pennant forming on XAUUSDMy updated view on XAUUSD until US GDP this friday.
My personal entry point is on the stop hunt that I've indicated on the chart, I will be looking at indicators and volume to confirm my long during the time frame of the grey stop hunt box I've placed.
If this chart helped at all, leave a like.
I would love any feedback/advice about my chart to correct any of my mistakes and learn more about TA.
DISCLAIMER: Not a financial advisor, I don't suggest using my ideas for your own as I am a complete amateur for TA.
Good luck to everyone!
Potential BULLISH PENNANT formation on XAUUSD I am still very bullish on gold since USD was really strong last week and gold was barely affected. DXY also seems to be doing a double top soon on the H1-H4 time frame which could fuel a stronger bullish momentum for gold this week.
My personal entry point is on the stop hunt that I've shown on the chart.
If this chart helped at all, leave a like.
I would love any feedback/advice about my chart to correct any of my mistakes and learn more about TA.
DISCLAIMER: Not a financial advisor, I don't suggest using my ideas for your own as I am a complete amateur for TA.
Good luck to everyone!
AION/BTC Bull Pennant! [35% profit potential]- Big bull pennant
- RSI knocking on the door already
- ATH on volume
Bullish Pennant on XAU/USD @ H4A bullish pennant has formed on XAU/USD @ H4 and offers an upside breakout trading opportunity. The pennant and its pole are marked with the yellow lines. My potential entry level is marked with the cyan line. My potential take-profit level is marked with the green line. I will set the stop-loss to the low of the breakout candle (not shown).
Golden Bull?Gold is formed a bullish pennant that might get broken during the coming up FED Powell Speech!
Bulls looking to take control?
Is this the moment to buy and hold Gold for what could be an economic recession?
Best of luck!
Bitcoin: We're gonna ri-ri-ri-ri-rise til we fall!Bitcoin is in a bullish pennant and we have RSI hidden bullish divergence on the 4 hour chart. BTC has found support at $6560 (0.618 fib) and we will probably have some sideways action until we have a breakout to the upside within the next day. Volume has been dropping steadily so expecting capitulation once we get closer to our pennant support. The break out should coincide with a break above the Daily MA50 and the break above the pennant resistance should take BTCUSD above the Daily MA100 at around $6750.
We can expect strong buying pressure once we break through the blue trend line which connects the peaks on 24 July, 4 September and 28 September. Price should then carry enough momentum to break the heavy $6800 resistance and should then reach $7026 at 1.272 fib with an extension to $7127 at 1.414 fib. $7127 also coincides with the large yellow trend line resistance which connects the peaks at 05 May and 24 July. A close above this yellow trend line above $7272 at 1.618 fib should spark a short term rally, however this will be a strong level of resistance given its fib positioning and price could turn from there for a retest of $6800 support. This yellow trend line also serves as resistance for the large bearish descending triangle playing out on the weekly chart.
Remember the bear market is not over until BTC is over the daily MA200 so take caution when everyone starts piling in to the 4th quarter ''bull run".
Good luck and happy trading!
Previous analysis:
Close to Breakout of Bullish Pennant for BitcoinAlmost breaking out of the descending wedge will take us straight up to new levels of support, matching trend lines AND fibonacci extensions. Moving average bullish cross in next couple of days. Breakout VERY LIKELY.
Potential Long for Bulls on Bitcoin/USDBased on trends and a breakout scenario from the descending wedge AKA bullish pennant, we see the levels of resistance, along with a rough idea of what another bullish run would look like.
Ripple | Round Two Coming Up? Potential Breakout [XRPBTC]Like I mentioned in my earlier analysis, it seemed like the RSI needed to cool off a little before Ripple could make another move.
We had two days of consolidation now and created a nice bull pennant, which often results in continuation to the upside.
A Long trade would have a pretty good Risk/Reward ratio right now.
First target could be the next resistance level around 55000 Satoshis (8% gain), second one around 61500 Satoshis (20% gain).
A Stop could be right under the pennant.
Have a nice day!
Bullish Pennant on GBP/CHF @ D1This bullish pennant formed on the GBP/CHF @ D1 offers a bullish breakout opportunity. The pennant and its pole are marked with the yellow lines. My potential entry level is the cyan line. My potential take-profit level is the green line. I will set the stop-loss to the low of the breakout candle (not shown).
Bitcoin | Consolidation [Bull Pennant / Bear Flag]Bitcoin is further consolidating in a tight range today.
The immediate pattern it draws is a bull pennant, but the entire structure can also be seen as a another bear flag.
A daily close above the bull pennant structure would be considered bullish, a daily close below 6.4k would be considered bearish.
The red rectangles are areas of major resistance. I assume that the prices wouldn't break above these levels without further consolidation.
Same thing goes for the support levels around 6.2k. The entire 6k area has held throughout the whole year, and I don't think that it'll break today.
The only thing that the RSI reveals is that it's a no trade zone for me.
The weekly SRSI just crossed under, so my gutfeeling is slightly bearish.
LULU Bullish Flag formation near completion.LULULEMON is currently in the controlled profit taking stage of the flag for the current bull flag formation. The previous advance since an earnings surprise is used as the length of the flagpole and also the measuring objective of the next advance. If we see some significant volume on the breakout then we could be set up for some nice quick profit. If volume diverges from an increase or does not increase at all this is Bearish and therefore no entry should be taken. Could see some more controlled profit taking before an advance, watch for volume.
EURUSD BUY As we can all see, this a bullish pennant potentially forming. Price is currently at a very strong Support Line, so we'll be looking for bulls to be taking charge very soon.
You can drop down to the 1H/2H or even the 4H for a strong Confirmation to be buying (INTRADAY TRADES). However, if you're like me.... You'll also enter at the break and retouch of the bearish trendline for this will be a very high probability trade.
As nothing is promised. If price does decide to break bullish . We'll be looking for a retest and looking to be selling. However as price is still over the 20EMA on the monthly timeframe I'll be expecting a bullish break.
ICX possible Bullish pennant forming. ICX is forming a possible bullish pennant on the hourly charts (1-4.) RSI is turning up and has plenty of room to run, and the MACD on the 4-hour is looking like it will cross over (bullish cross over.) The Stochastic indicator is also turning up. Target 1 is along the pennant near 1350. If it is rejected here, it will most likely retest the bottom part of the pennant near 1260-1270. If 1260-1270 cannot hold, there is a shallow support at 1150-1160, but the next real support is the long-term sideways trend line around 1090. If it breaks above 1350, the next target is the prior resistance at 1450-1460. I don't expect it to immediately move a lot higher than target 2 if it breaks up. I'd like it to move slightly above 1450ish, and then test that 1450 area as a new support. Do watch Bitcoin as well. If it starts to drop then we can expect the alts to follow. If BTC starts to rise, hopefully our pattern along with Bitcoin's upward movement will give us some nice gains.
-Not professional financial advice. Always do your own research before purchasing. I am not liable for any loses incurred.
(ONT/USDT) Big Bull Pennant forming.Entry 2.135
Stoploss 2.010(-5.85%)
Target 3.171 (+48.52%)
Risk Reward 8.29
Disclaimer, my post are my own ideas, not financial advice.
BTCUSD Confluence of Support Bounce Probable??????? We have a huge confluence of support right here. We are testing the trendline from the December High. It also is right were the current upward trend from June is along with price resistance/support lines. If you look at the daily chart there is currently at a huge confluence of support and it is likely that we will see an bounce or a reversal of this downward move. When we broke out of the resistence from december we never tested it as support therefore the price needed to come down and test that same trendline that was resistance for so long. So there is a high probability of a bounce. I hope we reverse on this bounce and continue up. I am not sure which way we will go, but if we go down below 6k I believe we will follow this trendline from the December high down. This trendline is the thin orange line that is extending from the green pennant trendline from december high. I am not saying this will happen but if it does I am putting a target between 2.9K and 4K. But until we break below are current trendline I am expecting a bounce in the short-term which could be wave 2 or 4 of an upward impulse meaning the move can't be over. Others think this is a correction from the downward, but with this impulse reaching 8400 it should have invalidated most of those bearish counts. So whats next move????? There is one other count where we just move sideway with lower highs
BTCUSD Bulll pennant???? Btc has been in a long term bull run as you can see in the chart. It has formed what appears to be a bull pennant. The question is where does the flag pole begin??? My chart also indicates if we turn bearish from here where I think the lowest plausable target would be and has all the supports list between where we are and the low. I am not saying thats what going to happen but I still have thought about the possibilities. Happy trading and don't use my chart for trading this is my opinion and not to be used as trading advice. Do so at your own risk
GNTBTC BOTTOM IN??????? Weekly 9 on TDSEQUENTIALHey everyone I believe that we have a BOTTOM In or close to being in. Check out the weekly, Daily, and 4hr TD sequential all hitting on ending 9's today or in the past few days. The daily is on an 8. These are good signs not to mention the bull pennant on the 4 hour chart. Hopefully the bottom is in
XLU - Bullish pennant getting ready to breakout for big run up!A bullish pennant forming with a potential for a large breakout to the upside. See chart for pattern and price targets.
Bullish Pennant on CAD/JPY @ D1The bullish pennant on the daily chart of CAD/JPY can be used for trading an upside breakout. The pennant and its pole are marked with the yellow lines. My potential entry level is a the cyan line. My potential take-profit level is at the green line. I will set the stop-loss to the low of the breakout candle (not shown).
