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Pennant

Pennant - UCADHere I have USD/CAD on the Daily Chart! Price has been creating Higher Lows into Lower Highs which is outlining a Pennant Pattern! Important factors to mention: The High price created at the First Touch of the Falling Resistance was unable to stay above the Previous Highs made on Oct. 13th '22 and Mar. 10th '23 and seems to be struggling with this Resistance at 1.38621. The USD has been severely falling since last weeks news on CPI BUT could potentially find support at this 103.0 area like it did last time it was here on Aug. 31st! Fundamentally this week: USD - FOMC Meeting (Tues) Unemployment Claims (Wed) Thanksgiving* (Thur) Flash PMI (Fri) CAD - CPI (Tues) My bias on the pair at the moment is neutral due to the Heavy flow of News this week and the impact it all may have. WAIT for price to give a PROPER break of either the Falling Resistance or Rising Support! *Chart Patterns are known to fail 1/3 of the time so BEWARE OF FALSE BREAKS!!
by Novi_Fibonacci
📈 DYDX: Breaking the Charts with Precision! 💹 DYDX has emerged as a star player in the crypto charts, showcasing a compelling technical setup that has traders buzzing with excitement. The recent surge in price is not just a random move; it's a result of a clear breakout coupled with a meticulous retest of a significant accumulation zone. Let's dive into why DYDX is currently trading around the $4 mark. Chart Analysis: DYDX's Technical Brilliance DYDX's chart tells a tale of technical brilliance, featuring a decisive breakout and subsequent retest. The coin surged with purpose, breaking out from a well-defined accumulation pattern that took the form of a symmetrical triangle. Such patterns often signify a period of consolidation before a powerful move, and DYDX did not disappoint. Technical Indicators: The Precision of the Breakout The precision of DYDX's breakout is evident not only in the strength of the move itself but also in the subsequent retest. The price action confirms a clean and well-executed escape from the accumulation zone, showcasing the market's confidence in DYDX's upward trajectory. Trading Strategy: Navigating DYDX's Momentum For traders eyeing DYDX, the breakout and retest present a prime opportunity for strategic entries. Monitoring the coin's momentum and confirming the sustainability of the upward move will be crucial. A well-crafted trading strategy, considering these technical nuances, could position traders favorably in DYDX's promising journey. Conclusion: DYDX's Charting Triumph DYDX's recent price surge is more than a mere spike; it's a triumph in charting precision. The breakout from the symmetrical triangle, followed by a calculated retest, speaks volumes about the coin's technical strength. As DYDX continues to chart its course, traders are poised to ride the momentum of this well-executed move. 🚀 DYDX Analysis | 📊 Technical Breakouts | 💡 Trading Precision Are you diving into DYDX's charting triumph? Share your insights, strategies💚🌐💚 ❗See related ideas below❗
Long
by Yaroslav_Krasko
Pennant - GJHere I have GBP/JPY on the 1Hr Chart in what looks to be a Pennant Pattern!! We've had 2 tests of the Falling Resistance and 2 tests of the Rising Support! There is still room for price to play in the "Pinch Point". As of now I have a Bullish Bias on this idea because price was in a Uptrend prior to entering this pattern! Along with GBP showing strength across the board! -BUT- GBP is heavy with news this week so if news is bad, there is potential for a Bearish Break! Fundamentally: GBP -> Claimant Count Chance (Tue), CPI (Wed) and Retail Sales (Fri) JPY -> "Clear News Week" **Chart Patterns are known to fail 1/3 of the time so BEWARE OF FALSE BREAKS!!
Long
by Novi_Fibonacci
The August 2023 Deja Vu? Fractals🔄🔄🔄 The crypto market often takes us on a rollercoaster ride, and it's during moments of similarity that we can draw valuable lessons. The current situation in the crypto space is strikingly reminiscent of August 2023 when Bitcoin (BTC) traded within a range but only made local highs without attempting to revisit the lows. This eventually led to a local dump. Today's chart seems to echo the past, and it's essential to be prepared for various scenarios – both upward and downward. Let's delve into the similarities and potential outcomes. 📈📉 The 2023 Recap: In August 2023, Bitcoin found itself in a range-bound situation. It repeatedly marked local highs but showed reluctance to retest the lows. This pattern created a sense of complacency that the price would only continue to rise. The Present Resemblance: Fast forward to the present, and the chart appears eerily similar to that of August 2023. Bitcoin is once again caught within a range, and it's been marking local highs without revisiting the lows. This scenario is fueling both bullish and bearish sentiments. The Dual Scenarios: As history has taught us, it's essential to be prepared for both scenarios. In this situation, there are two possibilities: Upward Movement: The price could eventually break out of this range and embark on an upward journey. Local highs might turn into strong support, leading to a bullish rally. Downward Correction: Conversely, a failure to revisit the range's lows could lead to a local dump, where the price corrects to more attractive levels. Trading Strategy: Vigilance: Keep a watchful eye on Bitcoin's price action and how it interacts with the range boundaries. Risk Management: Implement strong risk management practices, especially given the market's volatility. Stay Informed: Be aware of the fundamentals and any news that could impact Bitcoin's price. Conclusion: The crypto market is a realm of repeating patterns and unexpected twists. As you navigate the current situation, remember the lessons from the past and prepare for both bullish and bearish scenarios. The key to successful crypto trading lies in vigilance and adaptability. Stay informed, trade wisely, and may your strategies lead to success. ❗️Get my 3 crypto trading indicators for FREE! Link below🔑
by AlexWhale
ETH Flag Pattern: Quick Short then $2KHi Traders, Investors and Speculators of Charts📈📉 As you know, we're trading in the opening moments of a new bullish cycle. Often when quick increases happen, pullbacks and corrections are sure to follow, even during a bull market this is natural. ETH formed a flag, and this gives the opportunity to take either a long or a short. Watch the video for a quick setup with conditions and an easy to understand explanation. Remember, support and resistance zones are great to watch for possible long and short opportunities during brief pullbacks! _______________________ 📢Follow us here on TradingView for daily updates📢 👍Hit like & Follow 👍 We thank you for your support ! CryptoCheck BINANCE:ETHUSDT
Short
by Crypto-Check-
17
Pennant - AJHere on the Daily Chart I have AUD/JPY showing signs of a Pennant pattern! Lower Highs into Higher Lows until a "Pinch Point" where price will need to break Bullish or Bearish. Pennants can break either way but the direction of the Market usually has an influence on where price will go after the break. Price has tested the Falling Resistance and Rising Support twice already, so I am waiting to see what the Third test of either Trendline will bring! Price currently is on its way up so I suspect we will get a third test of the Falling Resistance shortly! *Chart patterns are known to fail 1/3 of the time so BEWARE OF FALSE BREAKS!
by Novi_Fibonacci
6
UPL IS SOON TO CRASH DUE TO THIS PATTERN...TECHNICAL INDICATORS - SYMMETRICAL TRIANGLE BREAKDOWN - UPL had formed a very strong symmetrical triangle (with almost 8 CONTACT POINTS) recently and broke it down recently indicating a strong downmove to come in near future REVERSAL FROM 50D & 100D SMA - On daily timeframe, it had recently reversed from these two sma simultaneously again indicating downside pressure REVERSAL FROM STRONG SUPPORT-RESISTANCE LEVEL - It had also tested and reversed from an old and time tested level which earlier had acted as support and now working as resistance level PROFIT TARGET - Its profit target is 544.95 FUNDAMENTAL INDICATORS - LOWER SALES & PROFIT MARGIN COMPARED TO PEERS - On the last quarter (jan-mar), UPL had delivered a lacklustre sales and profit margin comapred to its peers Tata Chemicals, Vishnu Chemicals, Tanfac. All its peers delivered positive growth whereas it has posted profit growth in negative (-4.06%). It is also creating downside pressure on the stock
NSE:UPLShort
by peace_lover
Insmed Incorporated (INSM: NASDAQ)Insmed Incorporated (INSM), a biopharmaceutical company, is showing positive developments in its product portfolio. The company reiterated its 2023 guidance, expecting revenue between $295-305 million, with strategic plans to expand the use of its ARIKAYCE product. Encouraging Phase 2 data for its TPIP drug, used in pulmonary hypertension treatment, highlights its commitment to developing effective therapies. Investors are eagerly awaiting the Phase 3 ASPEN Trial results for Brensocatib in Q2 2024, which could significantly boost the company's growth. Market sentiment is bullish on INSM, particularly if the stock stays above the $22.50-$23.00 range, with an upside target set between $32.00 and $33.00.
NASDAQ:INSMLong
by Richtv_official
What is a Bearish Pennant Patterns?Imagine a rollercoaster: first, a steep drop (downtrend), then a brief pause (consolidation) before another drop. 💜 If you appreciate our charts, give us a quick 💜 This pause creates a symmetrical triangle of highs and lows, indicating market uncertainty. When prices break out below this triangle, it signals a likely continuation of the downtrend. 1️⃣ The Downward Journey: A clear, steep downtrend sets the stage, indicating prices are likely to fall. Think of it as the initial dive on the rollercoaster. 2️⃣ The Pennant Pause: Consolidation forms a triangle, showing market indecision. This is akin to the rollercoaster momentarily leveling out before the next plunge. 3️⃣ The Breakout Moment: A swift breakout below the triangle confirms the downtrend. It's like the rollercoaster taking a sudden, sharp drop. 🚀 How to Ride the Bearish Pennant: Step 1: Spotting the Pattern Look for a well-defined downtrend followed by consolidation forming a triangle. The triangle's upper line is resistance; the lower one is support. Step 2: Timing the Breakout Be patient; wait for a rapid breakout below the triangle. High trading volume confirms the breakout's strength. Step 3: Making Your Move Enter a short position right after the breakout or when the breakout candle closes. This aligns your trade with the downtrend momentum. Step 4: Planning Your Exit Set a profit target based on your risk tolerance. Implement a stop loss above the breakout candle's highs to guard against false breakouts. Pro Tips for Success: ✅ Stay in the Downtrend Lane: Only trade bearish pennants within a downtrend. Avoid it during uptrends or sideways markets for optimal results. ✅ Don't Jump the Gun: Wait for the breakout confirmation to avoid falling for false signals. Patience pays off! ✅ Volume: Your Secret Weapon: Strong breakouts occur with high volume. More participation means stronger market conviction. ✅ Plan Your Exit: Have a clear exit strategy. Acknowledge that breakouts might fail, and be ready to exit if the trade goes south. Mastering the bearish pennant pattern requires a blend of technical expertise, patience, and disciplined execution. Think of it as your guide to mastering market dips and making strategic moves. Happy trading!
Education
by Vestinda
BluetonaFX - GBPUSD Bear Pennant PatternHi Traders! GBPUSD is in a bear pennant pattern and is heading for the 4-week low at 1.20372 in anticipation of the FOMC press conference later today.   Price Action 📊 The market is currently in the bear pennant pattern and is showing bearish signals with lower highs and lower lows; additionally, there has been a break and a close under the 20 EMA. We are now looking for a momentum break to break and close below the support trendline to target the four-week low at 1.20372. Fundamental Analysis 📰 The US economy expanded at a 4.9% annual rate from July through September as Americans defied higher prices and rising interest rates. Economists have also said the US economy expanded last quarter at the fastest pace in nearly two years—more than twice the 2.1% annual rate of the previous quarter. The FOMC press conference is later today, so traders are eagerly waiting to hear what their statements are on the current US economic improvements. Support 📉 1.20943: TRENDLINE SUPPORT 1.20372: FOUR-WEEK LOW Resistance 📈 1.21836: 20 EMA 1.22008: PREVIOUS DAY'S HIGH Risk ⚠️ No more than 2% of your capital. Reward 💰 At least 4% of your capital. Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
Short
by BluetonaFX
BNB: Manipulative Moves in TriangleBNB has become the focal point of attention lately, caught within the confines of a significant triangle. What makes this setup intriguing is the consistent formation of equal lows at the bottom, an enticing prospect for market makers. These stable lows create an ideal opportunity for market makers to trigger stop losses hidden beneath these levels and propel the price higher. The Art of Manipulative Moves: Cryptocurrency markets are rife with manipulation, and BNB is no exception. Its current state, stuck within a giant triangle, provides an ideal playground for manipulative actions. Market makers can exploit this pattern by creating false impressions, triggering stop losses, and generating volatile price movements. Exploiting the Imbalances: Moreover, on the weekly chart, there are lingering open imbalances waiting to be addressed. Market manipulators might seize this opportunity to rectify these imbalances, a move that could potentially fuel further upward momentum. Trading Strategy: Caution and Vigilance: In an environment marked by manipulation, caution and vigilance are your best allies. Stay alert to sudden price movements and be prepared for unexpected volatility. Solidify Your Strategy: Reinforce your trading strategy, incorporating robust risk management practices and stop-loss orders to protect your positions. Stay Informed: Keep a keen eye on the market and stay informed about news and events that could influence BNB's price. Conclusion: BNB's current situation within the giant triangle is a testament to the complexities of the crypto market. While patterns and setups offer valuable insights, it's crucial to acknowledge the presence of manipulative forces. As a trader, your ability to adapt, remain vigilant, and navigate these manipulative maneuvers will be your strongest asset. Remember, in the crypto world, knowledge is power. Stay informed, trade wisely, and may your journey in this dynamic market be filled with success. ❗️Get my 3 crypto trading indicators for FREE❗️ Link below🔑
by AlexWhale
1