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Pennant

BTC more likely to rise after bear trap * 4H BTC was dumped due to FUD last week. But this was a bear trap and a long squeeze. If you look at the linear chart, it's supported by an uptrend line starting at 24.8k, and it's rolled up quickly with triangular convergence. It's slowly going up, supporting the bottom of the triangular convergence and the uptrend line. On this basis, it seems more likely to rise. BTC is currently staying in the 29.5k to 31.5k box range with Triangle Convergence, but after a little more sideways, I think it will show direction sooner or later.
Long
by untoldanalysis
DON'T MISS this BTC, another rideIf you're new here check out my previous set ups on BTC and make sure you don't miss this So we have a bullish pennant that is currently been retested, however i expect that BTC will test the liquidity point at 30k/ 30100 before we can fly and create a new year high. Even though there is a strong probability that it will range from 31400 to 29700, doesn't mean we can't scalp or long for a potential break. so i will be buying at 30100/ 30090 stop loss of 29500 See you at 36k
BINANCE:BTCUSDLong
by DN_Trades
12
CRM breaking out of pennant, or wave C correction?Salesforce ( NYSE:CRM ) is making an impressive pre-market move, poised to kick off the day with a breakout from its pennant formation. By taking into account a measured move from the previous consolidation phase, coupled with a measured move from the onset of the formation, we can project a potential target range of $233-238. Interestingly, this aligns with the consensus 12-month price targets. We're looking for this to invalidate the possibility that we've just wrapped up a wave B and are now embarking on a wave C correction. If the breakout fails and we enter a wave C hypothesis the long-term target remains intact. Consequently, I've planned two a entry approach: an immediate entry and a subsequent one at the $200 mark for further accumulation. It's worth noting that both these levels have strong volume support. This dual-entry strategy provides a balanced approach to potential market volatility, ensuring we're prepared for either outcome.
NYSE:CRM
by Ben_1148x2
BITCOIN - Price can leave pennant and fall to $29700Hi guys, this is my overview for BTCUSDT, feel free to check it and write your feedback in comments👊 A not long time ago price made correction below $30350 level, which coincide with resistance area, but soon backed up. Next, BTC rose to $31110 point and then bounced down to support line, which is located below $30350 level. Then price backed up again to resistance level and then started to rise inside rising channel, after which BTC declined to resistance area. But at once price made upward impulse to resistance line, forming pennant pattern, and then started to fall to support line. Recently price tried to back up, but failed and now trades near support line and I think Bitcoin can rise to resistance line. Then price can bounce down, thereby exiting from pennant and continue to fall to $29700 If this post is useful to you, you can support me with like/boost and advice in comments❤️
Short
by WalterMoon
18
BTC UPDATE! DUMP INCOMING!!Hello everyone, if you like the idea, do not forget to support it with a like and follow. Welcome to the new BTC update. BTC is currently trading around the $30.2k level. As you see in the chart, it is forming a bearish pennant in 1hr time frame. It already breaks down this pennant and a retest is also done. According to this pattern, we might see a big sell-off today. If this pattern plays out accordingly, then we see a dump up to the FWB:29K level from here. Invalidation:- If the hourly candle closes above $30.5k then this bearish pattern will be invalidated. What do you think about this? Do you also think that we see a dump from here or do you think that we pump from here? Let me know in the comment section. If you like this idea then do support it with like and follow. Thank You!
Short
by CoreCrypto1
1
Binance Coin can exit from pennant and bounce up to 240Hello traders, I want share with you my opinion about Binance Coin. By observing the chart, we can see that price a few time ago bounced from the seller zone, which coincide with the resistance level, and made an impulse down below the buyer zone, which coincide with the support level. After these movements price tried to rise, but failed and later declined to support line, where at once it started to rise. BNB rose higher of the seller zone, breaking two levels, and soon reached the resistance line, and then the price bounced and made a strong impulse down to the support line of the downward pennant, thereby breaking past the support line and resistance level. But a not long time ago price bounced up to the resistance line, where it continues to trade to this day. In my mind, Binance Coin can fall to the support line again and then bounce up and break the resistance line. After this, the price can make a retest and then continue to move up, therefore I set my target at the 240 level. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
6
Bunge Limited ($BG) LongBunge Limited ( NYSE:BG ) is an American agribusiness and food company, incorporated in Bermuda, and headquartered in St. Louis, Missouri, United States. As well as being an international soybean exporter, it is also involved in food processing, grain trading, and fertilizer. The daily chart shows the stock exploded to the upside from $30 in 2020 to a high of $125 in 2022. The stock has been downtrending a bit, holding the $90 support level and holding above 20, 50 and 200 day moving averages. Someone thinks a move is due and selling the 10/20 $90P and buying 105/120C spreads for $2.10. Earnings 7/26/23 with a dividend in August.
NYSE:BGLong
by airborne99
GBPUSD - Price can leave pennant and rise to resistance levelHi guys, this is my overview for GBPUSD, feel free to check it and write your feedback in comments👊 A not long time ago price bounced from $1.2545 point to support line, which is located below support area. But soon British Pound rolled up and made strong upward impulse higher of resistance area, which coincided with resistance level. Thereby price broke two levels, but later, it made correction below resistance level and then bounced up again to resistance line. Also, price formed pennant pattern, in which British Pound declined to current support level, which coincide with support line. Recently price bounced up and now trades very close resistance line, and I think British Pound can fall a little. Then price can bounce up to 1.2775 resistance level, exiting from pennant. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
8
Axsome Therapeutics building momentum Axsome Therapeutics Inc (AXSM) I have been in this spot trade since $50.77. We are now at $72.93. I have much higher targets as you can see from the chart. This is a long term trade looking to hold for 12 – 24 months however feel that something is going to happen within 6 – 12 months based on the chart. - Forming pennant on chart and RSI. Potential for breakout. - Steadily increasing OBV (On Balance Volume) demonstrating continued interested in the trade. - Stochastic Momentum indicator (not included on chart is driving upwards on the weekly). - You can see the orange boxes which act as accumulation zones with double bottoms before the larger move occurs. - We are above the 200 week and using it as support and we are above the 200 day also using it as support so we have limited downside with strong support. This purchase has been helped me recognized that Pharma appear to companies perform much better when the general market is in decline. They appear to be inverse risk on but also make small advances during risk on periods. It’s a market that I am becoming increasingly interested in as a diversifier and value lock. Obviously this is a smaller pharma company with higher risk in the trade, however if I was Regeneron or Johnson and Johnson and I see Axsome’s patents, drug offerings and the general population they are targeting with depression, Alzheimer’s and fibromyalgia, seems like a no brainer to buy them out. Fundamentals: AXSM are a Small Bio-Pharma company with market cap of $3.17 Billon. In August 2022 Auvelity Anti-Depressants was FDA approved & is the only rapid-acting oral medicine for MDD with labelling describing statistically significant antidepressant efficacy by one week. AXSM received Breakthrough Therapy designation from the FDA for an Alzheimer's disease drug development and are at the NDA phase for developing a drug for acute treatment of migraine. AXSM are also developing a treatment for narcolepsy and separately for fibromyalgia. All in, AXSM's offerings are building momentum. They have developed the fastest acting anti-depressant drug and are bringing it to market, and have a four other drugs in development, all of which have a large patient base. The company would be ripe for a buyout.
NASDAQ:AXSMLong
by PukaCharts
In my mind Euro can bounce to resistance level, exiting pennantHello traders, I want share with you my opinion about Euro.By observing the chart, we can see how the price a few days ago declined from the support level, which coincide with the buyer zone to the support line, after which it bounced and made a strong impulse up to the resistance line, breaking the seller zone, which coincides with resistance level. Also, the price formed an upward pennant and soon it made a correction below the resistance level. After this movement, Euro try to rise back, but failed and fell to the support line, after which recently the price bounced up to the resistance level. And now the price trades close to this level, and maybe Euro can decline a little and then bounce up to the resistance level, thereby exiting from the pennant. As well price can break this level, make a retest, or at once continue to move up, without retest, Therefore I set up my target at the 1.0975 level. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
23
Gold can rebound of resistance line and start to fallHello traders, I want share with you my opinion about Gold. Looking at the chart, we can see that price a few time ago declined below the resistance area, which coincide with the resistance level, but soon backed up and even rose higher them. Next, the price repeated this movement and then made a correction to the seller zone, which coincides with the current resistance level, and at once bounced back. But soon, Gold roll down and fell to the seller zone again, thereby making a fake breakout. Later price tried to rise, but after it touched the resistance level, Gold made a correction below the seller zone and at a short time bounced to the resistance line, where it started to decline. Price declined to support line, forming a downward pennant, in which Gold broke the 1930 level. Next price bounced from the support liner to the resistance line, but recently it bounced of the resistance line too. And now Gold trades near the resistance line and I think it can rise to the resistance line and then start to fall to the support line. Possibly, Gold can break the support line and continue to fall, therefore I set my target at 1905. Please share this idea with your friends and click Boost 🚀
FOREXCOM:XAUUSDShort
by LegionQ8
19
PSTG: Bullish Pennant, Not confirmed (46.35%)Bullish pennant for PSTG on the Weekly chart. Not confirmed. Pros: 1- PPS above 50MA and 200MA 2- RS above 0 but barely 3- R/R ratio above 5 4- 250RSI above 50 and climbing 5- 50MA above 200MA 6- Both 50MA and 200MA ascending 7- Golden cross circled in Marth 2021 8- Post formed with volume 9- Descending volume during pennant forming Cons: 1- Figure is not confirmed 2- No break out yet 3- ATR flat If confirmed, target price is 53,52$ Again, stay humble, have fun, make money! MAAX!
NYSE:PSTGLong
by LeLaf
Chart of the week.This is one of my favorite simply because of its fundamentals. Larson and Tourbro is not a new name in NSE. L&T is a market leader in construction and defense. This week it has given a Fibonacci breakout. As one can see from the chart, I have recommended this share since May 21, when it was trading around 1450. This is the stock an Investor should buy and forget. An Investor should not use this SL and buy it on each dip. CMP - 2475 (30-6-23) T - 2950, 3500 W SL - 2190 W
NSE:LTLong
by AbNamjoshi