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Bullish Pennant

XRP Entry level Reward to risk 2.5:1XRP is forming a possible bull pennant. A pending order can be placed right above the top slope of the triangle @ .81ish. First target is an area of possible consolidation or reversal. This would be about 10% profit, which is a great place to prune risk by selling 1/3 of the original stake and raising the stop loss to the buy in price. At that point I'll lock in 3% profit no matter what happens. Note: if you made 3% each day, with compounding interest you'd double your money every month. If you average 3% per day for a year, each $1K stake would compound to $2.5 million. Second target is the psychological level just below $1. A great place to once again prune risk, as the chance of consolidation or reversal is pretty high here. The final target is the first fib extension. However, it is so close to the $1, I'm skeptical well get there before another flag forms and another entry is possible.
Long
by Tmoran
BTC possibly breaking all-time high again and more!BTC has bounced on the yellow support that has been followed since mid-September and also on the 61.8% Fib. retracement after following a clear head-and-shoulders formation, one week ago. Now it is back on a higher parallel support and it is showing to build a bullish pennant pattern. Also, the RSI doesn't seem to show any divergence. If the price breaks out of the pennant upwards, the price might surpass the previous ATH and go towards the 7200€ zone (around 8400$). On the other hand, if the price breaks below the support, BTC might fall again to retest the 71.6% Fib. retracement at about 5850€ (around 6900$).
Long
by Andratos95
GJ Potential LongI see a bullish pennant forming on GJ, I think we'll see some more consolidation over the next week or two and then a strong bullish push that will slow down around 160.00. I've been long for about a month on GJ with an entry at 148.046. At one point I was up 350+ pips but decided to hold (currently up about 70 pips). This trade was more of psychological test for myself to hold a swing trade like this. I think the overall trend is bullish based on the weekly time frame which is why I took this position. My TP for my trade is at 158.00 due to the different levels of resistance at 160.00. We have a 50% FIB off of the weekly bullish move and a FIB full extension that lines up with the 50%.
Long
by CasMinor
1
Bullish Pennant forming in NEOA bullish pennant appears to be very near completion. A break from this wedge will be coming soon regardless of direction. This is generally a bullish symbol though, and NEO appears to have a lot of momentum still behind it. Also, NEO has retraced completely to the 61.8% Fibonacci line from it's most recent rally. The 50-61.8% lines tend to be the full retracement necessary for continuations on bullish rallies, especially in cryptocurrency. The first profit target is near the recent swing high. We will almost certainly see a retracement from there if it goes that direction. With the right conditions from there I'll be looking to the Fibonacci extensions labeled above it along with previous pivot points in this range. A break below the bright blue line at the low of the pennant will invalidate this trade setup. It is entirely possible to see a "fakeout" back towards that low before moving higher if this doesn't break straight up. If you're not already in it, please keep this in mind and don't ride it below the pennant low.
Long
by HughGRection
3
Ripple and the next 3 daysBITSTAMP:XRPUSD Hi all, This is an updated analysis from my piece nearly about a month ago (). In the article I have mentioned that having patience will pay off (everything moved 2 times slower than I had anticipated). Our patience may now be paying off as, from a technical analysis perspective, price has just broken from the bullish pennant accompanied by over twice the moving average in volume. Furthermore, the break-out has occurred over 80% of the width of the pennant (start to apex = 109/136). I find that break-outs above this length are very powerful. On to a more fundamental analysis, there has been very strong rumours of the potential interesting partnerships Ripple may have with chinese companies (Alibaba was the subject of one of the rumours found here: www.xrpchat.com however it was debunked that they were running a validator node). The idea still stands that Ripple is very interested in expanding into China (which is confirmed: www.coindesk.com). Add this to the fact, that the break-out coincides with Ripple's teaser post on twitter that the next 3 days will be heavy loaded with announcements (twitter.com), supports the break-out. There is a very high possibility that specific expansion plans into China may be announced. On the subject of China, the amount of cross-border payments in the country has seen remarkable increase, in 2015, the " B2B ecommerce sector ... attracted over 5 billion yuan in 2015; a year-on-year increase of about 699%." (www.thepaypers.com). If Ripple can obtain some market share into such a rapidly growing market, it would no doubt be beneficial to Ripple as a company and their token XRP which further reduces costs in payments. Things to look out for over the next 3 days (Ordered to what I think is most to least important): . Expansion plans into China . Any expansions into other regions of the world (Miguel Vias has stated that we: "will see some very interesting developments with respect to our partnership in payments, with respect to XRP in particular" this quarter). . Escrow - Lockup date . SBI live tests date . More bank partnerships . Extension of Ripple's use into not just between banks but between businesses . Ripple beginning to take some market share (through partnerships with banks) in the forex market. The forex market turned over "$5.1 trillion per day in April 2016 (www.bis.org). If Ripple can take some of this market share, it would be an undeniable win for the company. This may be a bit further on or a stretch, but Ripple has been working amazingly fast given they are negotiating with institutions. Overall, the break-out we have seen is fuelled by technical, fundamental and news related aspects. This reassures me that it may not be a bad idea to buy into XRP at this moment. I reiterate my conservative $0.52 target and look forward to what Ripple has to offer over the next 3 days of "mind-blowing #content and #speakers"! Thanks for reading, feel free to leave any comments if you would like to add something or see something you disagree with. Feedback is always welcome!
BITSTAMP:XRPUSDLong
by TheTraderJ
17
LTC stepping over long term resistance?Continuation of Bull Pennant uptrend that began the start of August. This Pennant is different than the previous two in that it consolidates at long term resistance marked with yellow horizontal line, hence the tighter pattern. Confirmation of RSI over 70 and bullish divergence in MACD along with similar Bollinger Band consolidation and breakout could indicate further upward momentum and a bull candle resembling previous flag poles. Very promising pattern, especially considering LTR was breached in formation of flag pole. Historically, further resistance has been at 52 and 55, so seeing how this reacts at those values will be interesting. I am bullish long term on Litecoin. Interested in other's thoughts. Happy & Profitable Trading!
BITFINEX:LTCUSDLong
by evandja