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Pennant

EURO - Price can exit from pennant and drop to $1.0650 pointsHi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊 Some time ago price made strong upward impulse and broke several resistance levels on its way to the top. Then it started to consolidate and formed a pennant pattern with a series of lower highs and higher lows. Price touched upper boundary of the pattern and bounced down, showing weakness near resistance zone. Recently Euro broke through the pennant support and tested $1.0790 level from above with no strength. Now it trades slightly above the breakout point and stays below key trendline and local resistance area. In my opinion, Euro can continue to decline and reach $1.0650 support level, exiting from pennant in the coming days. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Short
by WalterMoon
5
GOLD - Price can bounce up from pennant to $3100 pointsHi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊 Price sometimes declined inside the falling channel, where it broke support level and fell to the channel's support line. Then it turned around and rose to support area, some time traded near and later continued to move up. Gold broke $2935 level again and soon exited from channel also, after which continued to grow in pennant. In pennant, price reached $3055 level, which coincides with resistance area and tried to break it, but failed. After this, price corrected to support line of pennant and then started to grow, and now it trades near $3055 level. In my mind, Gold can bounce up from support line of pennant to $3100, breaking resistance level. If this post is useful to you, you can support me with like/boost and advice in comments❤️
OANDA:XAUUSDLong
by WalterMoon
10
Gold Spot (XAU/USD) Analysis: Bullish Pennant Breakout to Target1. Overview of the Chart This 4-hour chart of Gold Spot (XAU/USD) presents a bullish pennant pattern, which is a strong continuation formation, indicating that the price is likely to continue its upward trajectory. The price action has followed a clear trend structure, and we can identify key support and resistance levels, breakout points, and potential profit targets. This analysis provides a comprehensive breakdown of the chart setup, including: The technical pattern formation Key support and resistance zones Trade setup with an ideal entry, stop loss, and profit target Risk management considerations Market conditions and external factors to monitor 2. Breakdown of the Chart Pattern: Bullish Pennant Formation Understanding the Bullish Pennant Pattern A bullish pennant is a continuation pattern that occurs after a strong upward movement (known as the "flagpole"). The market then consolidates within a small triangular shape, forming the pennant. This consolidation is seen as a temporary pause before the next bullish move. Key Characteristics of the Pennant in this Chart Flagpole Formation: The steep rally before the pennant formed represents a strong bullish impulse, driven by increased buying pressure. This rapid price increase set the foundation for the pennant pattern. Consolidation (Pennant Formation): Price action moved within converging trendlines, forming a symmetrical triangular pattern. The market temporarily paused, as some traders took profits while others awaited further momentum. This type of consolidation is common before the price resumes its trend. Breakout from the Pennant: The bullish breakout above the upper trendline of the pennant confirms the continuation of the uptrend. A strong breakout suggests renewed buying interest, likely pushing prices toward the next resistance level. 3. Key Technical Levels on the Chart A. Resistance Level (Potential Selling Zone) A critical resistance zone is marked between $3,100 - $3,125, where selling pressure could emerge. If the price faces rejection in this zone, a temporary retracement could occur before another push higher. A breakout above this resistance level would further strengthen the bullish case, possibly pushing gold toward the $3,175 - $3,200 range. B. Support Level (Demand Zone) The support zone is around $3,025 - $3,017, which is the last significant swing low. This level represents a strong buying area where traders may look for re-entry on a pullback. A break below this support could invalidate the bullish setup, signaling a shift in market sentiment. C. Trendline Support (Dynamic Support) The dashed black trendline represents an uptrend support. If price retraces toward this level and holds, it may offer another buying opportunity before resuming its uptrend. A break below this trendline would be a warning signal, suggesting a weakening of bullish momentum. 4. Trade Setup and Execution Strategy A. Entry Strategy The ideal entry point was upon the confirmed breakout above the pennant, around $3,075 - $3,085. Aggressive traders may have entered at the breakout itself. Conservative traders may wait for a pullback to retest the breakout zone before entering, ensuring confirmation. B. Stop Loss Placement (Risk Management) A stop loss is placed below the support zone at $3,017 to minimize downside risk. This placement protects against false breakouts or unexpected market reversals. Keeping a tight stop loss allows for a higher risk-to-reward ratio while maintaining a disciplined approach. C. Profit Target Projection (Expected Price Movement) The target price is determined using the measured move approach, where the height of the flagpole is added to the breakout point. The expected profit target is in the range of $3,175 - $3,200, offering a potential upside of 4.29% from the breakout level. If price maintains its bullish momentum, further gains could be expected beyond the target zone. 5. Risk Management & Considerations A. Risk-to-Reward Ratio (RRR) This trade setup provides a favorable risk-to-reward ratio (RRR). With an entry near $3,085, a stop loss at $3,017, and a target around $3,175, the trade offers a reward-to-risk ratio of approximately 3:1. This ensures that even if the trade does not succeed, the risk is controlled while allowing significant upside potential. B. Factors That Could Invalidate the Setup Failure to sustain the breakout: If price falls back below the pennant, the setup may be invalid. Break below the support zone ($3,017): This would signal a possible trend reversal. Weak volume on breakout: A lack of volume could indicate a false breakout, leading to price retracement. C. Alternative Trade Scenarios Scenario 1: Retest & Continuation: If price pulls back to retest the breakout zone ($3,075 - $3,085) and holds, traders can look for another buying opportunity. Scenario 2: False Breakout & Reversal: If price falls below the support level ($3,017), traders should exit long positions and re-evaluate market conditions. 6. Market Conditions & External Factors to Monitor A. Gold’s Correlation with USD & Interest Rates Stronger USD → Downward Pressure on Gold Weaker USD → Bullish Gold Trend Interest rate decisions from the U.S. Federal Reserve play a significant role in gold prices. B. Economic Events & News Impact Inflation Reports: Higher inflation often supports gold prices. Geopolitical Tensions: Political instability can lead to increased demand for gold as a safe-haven asset. Stock Market Movements: A weaker stock market can drive capital into gold. 7. Conclusion: Bullish Outlook with Cautious Optimism Key Takeaways: ✔ Bullish pennant breakout confirmed – strong continuation signal. ✔ Price is above key support & trendline – maintaining bullish structure. ✔ Clear trade plan with entry, stop loss, and target levels. Trading Plan Summary: Entry Stop Loss Target Risk-Reward Ratio $3,075 - $3,085 $3,017 $3,175 - $3,200 3:1 📌 Final Recommendation: Maintain a bullish bias as long as price holds above the support zone ($3,017). Watch for volume confirmation to ensure the breakout is valid. Adjust stop loss or secure profits if price reaches key resistance levels ($3,100 - $3,125). If you need further clarification or alternative trade scenarios, let me know! 🚀
OANDA:XAUUSDLong
by GoldMasterTrades
B&M European Stock Quote | Chart & Forecast SummaryKey Indicators On Trade Set Up In General 1. Push Set Up 2. Range Set up 3. Break & Retest Set Up Notes On Session # B&M European Stock Quote - Double Formation * A+ Set Up)) | Completed Survey * 012345 Wave Set Up | Channel & Retest Area | Subdivision 1 - Triple Formation * (Downtrend Argument)) | Short Set Up | Subdivision 2 * (TP1) | Subdivision 3 * Daily Time Frame | Trend Settings Condition - (Hypothesis On Entry Bias)) | Logarithmic Settings - Position On A 1.5RR * Stop Loss At 281 GBP * Entry At 265 GBP * Take Profit At 238 GBP * (Downtrend Argument)) & Pattern Confirmation * Ongoing Entry & (Neutral Area)) Active Sessions On Relevant Range & Elemented Probabilities; European-Session(Upwards) - East Coast-Session(Downwards) - Asian-Session(Ranging) Conclusion | Trade Plan Execution & Risk Management On Demand; Overall Consensus | Sell
PEPPERSTONE:BME.GBShort
by TradePolitics
Euro can exit from pennant and rebound up from support areaHello traders, I want share with you my opinion about Euro. The price was previously trading inside an upward channel, where it consistently rebounded from the support line and moved toward the resistance line. After a final bounce from the lower boundary, EUR made a strong breakout and exited the channel, triggering a powerful bullish impulse. This move brought the price directly to the current support level at 1.0745, which overlaps with the support area. After reaching the local high, the price turned around and entered a correction phase, forming an upward pennant pattern. Inside this structure, we can see how EUR respected both the resistance line and the rising support line of the pennant. Recently, the price rebounded from the support line again, showing signs of strength near the support area, and is now consolidating at the edge of the pennant. This setup often signals an upcoming breakout. I expect the price to break above the resistance line of the pennant and continue its bullish move toward TP1, which is set at 1.0950 points. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
9
Euro can drop to 1.0650 points, breaking support levelHello traders, I want share with you my opinion about Euro. Earlier, the price was moving inside a range, bouncing between the boundaries and forming a buyer zone near the lower support area. After several rebounds, EUR started to grow and eventually broke out from the range, making a strong upward impulse. The growth continued with a breakout through the support level, which later turned into a support area. From there, the price continued its bullish trend, but after touching the resistance line, it turned around and entered a correction phase. Over the last few sessions, Euro has been forming a pennant pattern, trading between the resistance line and the support line. Now the price is consolidating near the apex of the pennant, showing weak momentum. I expect a false breakout to the upside, followed by a sharp decline from the resistance line. In this scenario, the price would likely break through the current support area and move toward the 1.0650 points - this is my TP1. Given the recent price structure, the correction phase, and the weakening bullish pressure, I remain bearish and anticipate further decline. Please share this idea with your friends and click Boost 🚀
Short
by LegionQ8
17
Bitcoin may rebound up from pennant to 90K pointsHello traders, I want share with you my opinion about Bitcoin. Not long ago, BTC was trading inside a wide range, where the price moved sideways and eventually touched the resistance line, from which it turned around and began to fall. After the decline, BTC exited the range, breaking through the lower boundary and sharply dropping to the support level, which aligned with the buyer zone. From there, we saw a quick impulse up, but this movement faced strong resistance inside the seller zone, where a fake breakout occurred — price briefly moved above but then sharply reversed and began another decline. As BTC continued to decline, it formed a downward pennant pattern. Within this structure, we can clearly see how the price respected both the resistance line and the support line of the pennant, bouncing up from the lower boundary several times. The most recent bounce came again from the buyer zone, indicating that bulls are still defending this area. At the moment, BTC is consolidating near the tip of the pennant, and I believe there’s a high probability of an upcoming breakout. My base scenario assumes that we could see one more minor pullback toward the support line, followed by an upward breakout from the pennant. If that happens, the price may reach the 90000 points, which I consider as TP1. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
17
STRONG REVERSAL COMMING FROM NEW ATH ALERT!📈 Description: This is a 2-hour timeframe analysis of Gold, the market is currently consolidating between a strong support zone 📉 and a weekly high resistance level 📈. Two possible breakout scenarios can be expected: ✅ Bullish Scenario: If the price holds the strong zone at 3028 and gains momentum, it may break out above the weekly high 🚀. ❌ Bearish Scenario: If the price breaks below this strong support zone i.e 3028, it could trigger a downward move toward a lower support level 📉. 👀 Traders should watch for breakout confirmations before entering trades! 📊📉📈 follow risk management
TVC:GOLD
by ANNA_EXPERT
BTC: Capture buying opportunities accurately📍Fundamentals: From a macro perspective, with increased government endorsement, cryptocurrencies are gaining greater credibility and popularity in the market. 📍Technical Analysis:The downward momentum of BTC is showing signs of exhaustion, with multiple rebounds forming a structural bottom that provides strong support. Overall, the bullish trend remains intact. The key support zone to monitor is 83000-82000. 📌If BTC fails to break below this level in the short term, a rebound is likely, with upside potential targeting the 88000-89000 range. 🔎Trade Idea: BTCUSD: Buy at 83000-82000 Target (TP):88000-89000 Stop Loss (SL):Adjust according to risk tolerance. 📩Trading means that everything has results and everything has feedback. I have been committed to market trading and trading strategy sharing, striving to improve the winning rate of trading and maximize profits. If you want to copy trading signals to make a profit, or master independent trading skills and thinking, you can follow the channel at the bottom of the article to copy trading strategies and signals
BITSTAMP:BTCUSDLong
by Trader_Marvin
The THETA chart sure has a story to tell!*"Here is a copy of my latest THETA chart, which I recently covered. There is a lot of information to be discovered simply by looking at it and drawing the proper conclusions. This will be one to watch as we move forward into the 'April flash crash' thesis I have been widely discussing. Even if it doesn't materialize as I've theorized, there are still some interesting developments that could be coming regarding the future of this asset. Good luck, and always use a stop loss!
CRYPTO:THETAUSDLong
by MetaShackle
Falling Wedge/Pennant on BitcoinThe full wedge extends all the way into August. I certainly hope we break up from it well before then. I place the measured move line around where I think we old break upward from if we can flip the 200ma back to solidified support. It of course could actually take much longer to break up from the wedge but even if it did the lowest price of the wedge is really not that terrifying in my opinion and would instead just be a phenomenal buying opportunity if we were allowed to accumulate mote that cheap. Because of other major supports not shown here however going below 70k for anything but an extremely brief wick seems an incredibly low probability. *not financial advice*
BITSTAMP:BTCUSD
by DrDovetail
XAUUSD still hoping for retracementThis is an update to my related chart (see link below) Update: Gold is rising quickly. I am still hoping for a retracement. I have updated my entry positions to: First Entry: 3023.365 which is in the middle of a new support level on the 1hour chart. Using Fib on the Bullish Pennant target, this entry is at the 0.5 level. Second Entry: 3012.392 which is within a support area as well. Using Fib on the Triangle target, this entry is just below 0.618 level.
OANDA:XAUUSDLong
by varietyjones
XAUUSD small retracement then longI see two outstanding targets from a previous Triangle and a Bullish Pennant on the 1hour chart. Right now Gold keeps hitting a soft resistance block. First Entry at 3,009.388 near 0.5 Fib Second Entry at 2,998.41 between 0.618 and 0.786 Fib Risk to Reward: 3.15 Gold remains bullish. In support: Name Simple Exponential MA5 3020.87 Buy 3020.99 Buy MA10 3015.91 Buy 3016.22 Buy MA20 3007.51 Buy 3009.40 Buy MA50 2996.65 Buy 2995.01 Buy MA100 2972.48 Buy 2977.08 Buy MA200 2941.12 Buy 2953.95 Buy Market Trading is risky. The above is just my idea and you should do your own analysis before comparing it with mine. Never risk more than you can afford to loose. Good Luck!
OANDA:XAUUSDLong
by varietyjones
#1000CHEEMSUSDT is setting up for a breakout Long BINANCE:1000CHEEMSUSDT.P from $0,0014000 🛡 Stop loss $0,0013740 1h Timeframe ⚡ Plan: ➡️ POC is 0,0013254 ➡️ Waiting for consolidation near resistance and increased buying activity before the breakout. ➡️ Expecting an impulsive upward move as buy orders accumulate. 🎯 TP Targets: 💎 TP 1: $0.0014380 💎 TP 2: $0.0014700 🚀 BINANCE:1000CHEEMSUSDT.P is setting up for a breakout—preparing for an upward move!
BINANCE:1000CHEEMSUSDT.PLong
by MoriartyTrading
Gold (XAU/USD) Chart Analysis**Gold (XAU/USD) Chart Analysis** 📌 **Current Price:** $3,014.41 📊 **Chart Pattern:** Uptrend with Higher Highs & Higher Lows 🎯 **Short-Term Target:** $3,020 **🔹 Key Levels:** - **Support:** - $3,012 (7 EMA) - $3,008 (21 EMA) - $3,003 (50 EMA) - **Resistance:** - $3,015 (Immediate) - $3,020 (Psychological Level) **✅ Trade Setup (Scalping Strategy):** - **Entry:** On retracement near $3,012 (7 EMA) - **Stop-Loss:** Below $3,008 - **Take Profit:** $3,020 📢 **Gold is in a strong uptrend. Bullish momentum remains intact unless price drops below $3,008!** 🚀
OANDA:XAUUSDLong
by elitetrader9090