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Pennant

Ethereum can rise to resistance line and try to break itHello traders, I want share with you my opinion about Ethereum. Observing the chart, we can see how the price some time ago bounced from the support line and made a strong impulse higher of the 1845 support level, thereby breaking it. After this price made a correction to the support area, and then rebounded up to the 1965 resistance level, which coincided with the seller zone. Then ETH rolled back to the support level, but at once bounced and rose to the resistance line, breaking the resistance level. after this movement, prices started to decline and soon fell below the 1965 resistance level to the support level, thereby making a fake breakout and forming a pennant pattern. Also, ETH declined more to support area, which is coincide with the support line, but in a short time back up and now trades near the 1845 support level. In my mind, Ethereum can decline to the support line again and then bounce to the resistance line. Then price and break this line and make a retest, or it at once continues to move up without retest. Therefore I set up my target at the 1910 level. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
9
4hr bull pennant on xrpusdI normally don’t put too much faith in 4 hour timeframe chart patterns, however should this 4 hour chart bull pennant hold up the bullish breakout target is around $1.10 . As of now it does look like it’s about to break upward, however being a smaller time frame like the 4hr chart there is still a chance this could be a fakeout and the real chart pattern is much bigger and needs to be charted on a higher timeframe. For now at least this looks good. *not financial advice*
BITSTAMP:XRPUSD
by DrDovetail
Bullish Pennant on USD/JPY @ H4This chart shows a bullish pennant on the daily chart of the USD/JPY currency pair. It can be used as a trend continuation pattern in case of the price closing above the upper border of the pennant part. The pennant and its pole are shown with the yellow lines. My potential stop-loss level is marked with the red line (141.208), it is placed at the low of the pennant area. My potential take-profit level is marked with the green line (143.411), it is placed at the pole's length above the SL. I will wait for the price to close significantly above the upper border of the pennant area to execute a buy trade here.
Long
by AndriyMoraru
After exited from pennant, Binance Coin can rise to 245Hello traders, I want share with you my opinion about Binance Coin. Observing the chart, we can see how the price recently bounced down and fell to the support line, thereby breaking the 235 support level, which coincides with the buyer zone. After this BNB at once bounced of the support line and rose to the resistance level, breaking the support level again, but when the price reached the 250 level, it rolled down to the buyer zone, which coincide this time with the support line. Next, BNB rose to the resistance level again, then made a little correction and continue to move up to the resistance line, thereby breaking the seller zone and resistance level. But after this, the price bounced down and fell below to support line, forming upward pennant pattern. Also a not long time ago Binance Coin broke the support line, thereby exiting from pennant and now trades below. I think that price can continue to rise to the support line and after BNB reached it, the price can make a little correction and then bounce up. For this case, I set up my target at the 245 level. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
6
Gold AnalysisMy Analysis on Gold: 1) Reach a monthly high 2) Retraced on a FIB ratio between 50% and 61.8% 3) Had a breakout from a bullish pennant and also made a retracement NB: These confirms our bullish sentiment on Gold. FOR ENTRY: AN AGGRESSIVE TRADER can enter with a good candle pattern from a lower timeframe (1H, 4H) and volume confirmation. A CONSERVATIVE TRADER Can wait for a breakout from the resistance zone with a high volume confirmation before entry in a lower timeframe (1H, 4H).
PEPPERSTONE:XAUUSDLong
by chisommarvell
EURO - Price can make a little correction and then start to riseHi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊 A few time ago price moved inside falling channel, in which it traded between mirror level and support area. And after Euro declined fell to support line, which coincides with support line of falling channel, it made upward impulse. Euro rose to $1.1120 level, broke it, and even later rise higher of resistance area to resistance line, thereby forming pennant pattern. But recently, price declined back to resistance area, exiting from pennant, and now trades very close to $1.1120 support level. I think that Euro can fall to support level, bounce and then start to move up to $1.1200 If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
16
AVGO: Bullish Pennant, confirmed (29,16%)(10/1000)(10/1000) Confirmed Bullish Pennant pattern for AVGO. 29.16% possible gains. Pros: 1- PPS above 50MA and 200MA 2- RS above 0 and climbing 3- R/R ratio above 5 4- 250RSI above 50 and climbing 5- 50MA above 200MA 6- Both 50MA and 200MA ascending 7- Golden cross circled in blue 8- Descending volume during flag forming 9- Volume during post forming 10- Break out with volume Cons: 1- ATR descending, less volatile Target price is 1048,47$ Stay humble, have fun, make money! MAAX
NASDAQ:AVGOLong
by LeLaf
BITCOIN - Price can leave pennant and continue to move upHi guys, this is my overview for BTCUSDT, feel free to check it and write your feedback in comments👊 Recently price declined to support line, thereby breaking support level with support area inside falling channel. After this, BTC bounced from support line and made strong upward impulse to current support level, which coincide with support area. As well, price left a falling channel too, and after impulse Bitcoin some time traded near $29850 level. Also later, price reached resistance line, thereby forming pennant pattern, and fell to support level, where it continues to trade to this day. In my mind, Bitcoin can break resistance line and rise a little, after which make retest to support level. And then, I think that price can continue to grow to $31100 level. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
13
Bitcoin - Huge pump is ready! + Bullish pennant Bitcoin is forming this bullish pennant on the daily chart. The price has been inside this pattern for a month, and it's time for a massive breakout! The next stop is around 34k because of the 0.618 FIB extension from Wave (1) to Wave (2) and we can hit this target next week. After it, a pullback is likely, but continuation of the uptrend to 39k is in place as per my previous analysis. Then I expect a crash to 21k! This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I share my trades transparently and post trade setups privately. Bitcoin has been consolidating for 1 month with a complex Elliott Wave correction wave (WXY) - Triple three. Before this correction, there is a strong impulse wave (12345). Now we should see a 3rd impulse wave followed by a triangle (ABCDE) or a ZigZag (ABC) and a final diagonal wedge pattern. Usually, when one of the corrective waves of a major impulse wave is complex, the second one should be a triangle or a zigzag pattern. XRP is pumping, and I hope you bought some cheap coins as I recommended! 1.3 is a strong resistance for XRP, so check out my previous idea in the related section down below. Also watch SPX and NDQ, if it his a new all time high, a major crash could happen also on BTC! Bitcoin is unfortunately pretty weak compared to other assets this year. I feel an alt season in the air, at least for a couple of weeks. I already have full bags of altcoins, so I don't know about you, but I am prepared! Thank you, and for more ideas, hit "Like" and "Follow"!
BITSTAMP:BTCUSDLong
by UnknownUnicorn2537518
152
Investment Pick of the week!After consolidating for year and half BEML has finally given breakout. This chart came on my attention in Sept 22, however, the SL is hit. Now again it is showing the strength to trade under blue sky. This is a very good opportunity for an INVESTOR. BEML is Government's one of the largest Heavy machinery unit. Target mentioned here are medium term targets. Long term targets are extremally aggressive. Long term investor can also keep deep SL than 1500 on weekly closing basis. CMP - 1682 (21/7/23) T - 2100, 2800 W SL - 1500 W
NSE:BEMLLong
by AbNamjoshi
ATC.CA: Bullish Pennant, Not Confirmed (28.89%)(6/1000)(6/1000) Bullish Pennant pattern for ATH on the Canadian market. Not confirmed yet. Pros: 1- PPS above 50MA and 200MA 2- RS above 0, but just a little 3- R/R ratio above 5 4- 250RSI above 50 but flat 5- 50MA above 200MA 6- Both 50MA and 200MA ascending 7- Golden cross circled in blue 8- Descending volume during flag forming 9- Volume during post forming 10- ATR ascending, more volatility Cons: 1- Flag not confirmed yet 2- No break out yet Target price is 4,33$ Stay humble, have fun, make money! MAAX
TSX:ATHLong
by LeLaf
1
UBER Bullish Pennants for ContinuationUBER on the 15-minute chart this week has printed a small bullish pennant pattern then continued into another larger print of the same pattern. The Price Volume Trend Oscillator went red to green as the initiation of this trend over the past two days. Trading volumes have pushed prices and are in the range of double the moving average. The zero-lag MACD indicator shows a pattern of bullish momentum in the mornings followed by fades at lunch and afternoons. I believe that this 5-6% trend up has another 1-2 days to go before a profit-taking session to close out the trading week.
NYSE:UBERLong
by AwesomeAvani
Binance Coin can grow to resistance line and try to break itHello traders, I want share with you my opinion about Binance Coin. By observing the chart, we can see that price bounced from the resistance level, which is located in the seller zone, and fell firstly to the support level, but soon Binance Coin declined lower to the buyer zone. A few time later price declined more to the support line, but at once rolled up and rose to the resistance level, where it at once too bounced back to the support line. After these movements, BNB made a strong upward impulse higher of the seller zone to the resistance line, thereby forming an upward pennant pattern. Then the price fell to the support line, which coincide with the support level, and a not long time ago bounced up and rose to the resistance line. At the moment Binance Coin trades near the support line and probably it can decline to the support line, and then bounce up to the resistance line. Also, I think, the price can break this line and make a retest, after which BNB can continue to move up, Therefore I set up my target at the 250 level. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
5
BITCOIN - Price can bounce up, thereby leaving pennantHi guys, this is my overview for BTCUSDT, feel free to check it and write your feedback in comments👊 A few days ago price declined below of resistance level, but at once bounced up and made a fake breakout. After this movement, Bitcoin fell to support level, which coincided with support area and also entered to rising channel. In channel price reached resistance level again, and even rose higher to resistance line, but soon made downward impulse to support line. Thereby price formed pennant pattern, in which Bitcoin continues to trade to this day. In my mind, price can decline to support line and then rise to $30500 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
14
After strong impulse up, Euro can decline to support levelHello traders, I want share with you my opinion about Euro. Observing the chart, we can see how the price some time ago bounced from the support level, which coincides with the support area, and started to decline inside the downward channel. Inside channel price declined until to support line, and also broke the last support level. After Euro reached the support line, it bounced up to the resistance line, exiting from the channel and backing up higher of support level. As well, the price formed an upward pennant pattern, in which Euro declined to the support level, which coincide with the support line, and then made a strong impulse up to the support area with the level. Thereby price left the pennant and in a short time broke the current support level and continue to rise. At the moment, I think Euro can fall to 1.1090 support level, where is located my target. Please share this idea with your friends and click Boost 🚀
Short
by LegionQ8
26