Get started

Pennant

British Pound can make correction movement and then bounce upHello traders, I want share with you my opinion about British Pound. Looking at the chart, we can see how the price bounced from the buyer zone and made impulse up to the resistance level, which is located inside the seller zone. But soon price bounce down and made correction below the support level with the buyer zone to support line. After these movements, British Pound made a strong impulse up to the resistance line, thereby reaching past the target, which is located at 1.2615 level, and rose higher of the seller zone with the resistance level and forming upward pennant pattern. Later price bounced of the resistance line and declined below the seller zone with the resistance level to the support line, but recently British Pound bounced up and now trades in the seller zone. Maybe the price can make a little move down and then bounce up. As well possibly British Pound can break the resistance level, make a retest, and continue to move up to the resistance line. If the price can break the resistance line, it can exit from the pennant and continues to move up, therefore I set up my next target at the 1.2780 level. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
8
Euro can leave pennant, make retest, and continue to growHello traders, I want share with you my opinion about Euro. Looking at the chart, we can see that a few days ago price bounced up from buyer zone and rose to resistance line. After this movement, Euro made correction to support line, which coincide with past support level. Then price bounced up and started to rise between resistance line and support line and a few time later, it bounced from support line and made upward impulse higher of current support level, thereby breaking it. Next, Euro made correction to resistance area, but soon bounced up to resistance line and after this move it started to decline to support line, thereby forming pennant. When price fell to support line, it broke support level, but a not long time ago Euro backed up and now trades inside resistance area, which coincides with resistance line. I expect that price can bounce up, thereby exiting from the pennant and the resistance area and then make a retest. After these movements, Euro maybe can continue to grow, therefore I set my target at 1.0970 level. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
28
Swiss Franc can break support line and start to fall to 0.8900Hello traders, I want share with you my opinion about Swiss Franc. Observing the chart, we can see how the price bounced up from support line and start to move up. When price rising to the seller zone, it broke two levels - 0.8900 and 0.9000, but after the Swiss Franc reached seller zone, it bounced down and started to decline. Also later price broke support line and made a correction below the 0.9000 level, and at once made an upward impulse to seller zone again. But soon Swiss franc bounced down lower 0.9000 level again to the support area, which coincide with the support level. After these movements, price started to grow inside pennant, where it continues trades to this day. In my mind price can make a little rise, then bounce down and start to decline. Also Swiss Franc can break saupport line and maybe fall to support level. For this case, I set two targets, first - 0.8945 and second - at 0.8900 support level. Please share this idea with your friends and click Boost 🚀
Short
by LegionQ8
5
USDJPY What will happen in the near future?🌟The USDJPY is in a Bullish phase by ⤵️⤵️ 🌟 Bullish signals are: - Bullish Cup & Handle - Bullish Pennant - Dynamic Support zone - Pivot R1 monthly - Ascending Triangle - moving EMA 20 50 ✅TARGETS: 142,148 ⭐ Note if the PRZ is broken downwards with the strength of Bearish candles from bottom Of the PRZ zone , this analysis of ours will be failed. ⏮️Previous Analysis⏮️ ✅If this post was useful for you, like it ❤️ and if you think it is useful for your friends, be sure to send it to them. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 🌍Thank you for seeing idea . Have a nice day and Good luck.
Long
by CobraVanguard
7
Euro can exit from penannt and break resistance levelHello traders, I want share with you my opinion about Euro. Observing the chart, we can see how price bounced up from 1.0790 level and made upward impulse to seller zone, thereby breaking one more resistance level. Later, Euro started to decline, bouncing from seller zone and making strong downward impulse below support area to support line. Also, price entered to pennant, in which Euro continues trade close resistance area now. After this pattern, I think Euro can break current resistance level and then make retest. But also, I think maybe price can don't make retest, after breakout, it can at once continue to grow. For this case, I set my target at the 1.0880 level. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
14
OPHR.CA: Bullish Pennant, not confirmer (75.84%)Bullish pennant for OPHR on TSX. Not confirmed yet. Gold company, mining industry. Pros: 1- PPS above 50MA and 200MA 2- RS above 0 but barely 3- R/R ratio above 5 4- 250RSI above 50 5- 50MA above 200MA 6- Both 50MA and 200MA ascending 7- Golden cross circled in blue 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 0,73$ Again, stay humble, have fun, make money! MAAX!
TSXV:OPHRLong
by LeLaf
RML.CA: Bullish pennant, not confirmed (88%)Bullish pennant for RML on TSX. Not confirmed yet. Mining industry has been on an uptrend for some time now. Pros: 1- PPS above 50MA and 200MA 2- RS above 0 and climbing 3- R/R ratio above 5 4- 5- 50MA above 200MA 6- Both 50MA and 200MA ascending 7- Golden cross circled in may 2023 8- ATR climbing, more volatility 9- Post formed with volume 10- Descending volume during pennant forming Cons: 1- Figure is not confirmed 2- No break out yet 3- 250RSI No data yet. Young stock. If confirmed, target price is 0,34$ Again, stay humble, have fun, make money! MAAX!
TSXV:RMLLong
by LeLaf
2
NILI.CA: Bullish Pennant, not confirmed (78%)Bullish pennant for NILI on TSX. Not confirmed yet but metal for batteries is a hot topic right now. 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- ATR climbing 9- Post formed with volume 10- Descending volume during pennant forming Cons: 1- Figure is not confirmed 2- No break out yet Target price is 1,13$ Again, stay humble, have fun, make money! MAAX!
TSXV:NILILong
by LeLaf
RUM - Two Technical Patterns Warrant AttentionLarger Pattern - Triangle and Upside Risk NASDAQ:RUM In the making now for 5-6 months. Projects to ~$14.50 on a bullish resolution but would need to give it up to 6 months to achieve that level. Assuming this target is achieved then the overall downtrend line originating from the all-time high becomes the next technical target which is above $15 and declining at the current time. Smaller Pattern - Pennant and Upside Risk In the making for approximately a month. Projects to ~$11.80 on bullish resolution in 3 - 5 weeks. Confirmation Look for a close and a sustained move above $10.30 on higher volume. This area represents the upper resistance for essentially both patterns at roughly this point in time and a move above this area would represent a bullish resolution to both patterns. Targets noted assume bullish resolution in the short-term. Downside Risk Failure of smaller pattern points to the lower trendline of the larger pattern. Failure of the smaller pattern can also indicate an enlargement of the pennant but would arguably weaken the potential. At prima facie a break below the pennant would be bearish. Below that look for support areas indicated. Failure of the smaller pattern would reduce the bullishness overall but could have the larger pattern remain in play as a potential.
NASDAQ:RUM
by Mr_Anderson_007
1
Gold pennant potentialTrade Idea: Buying Gold Reasoning: • Weekly – Potentially forming a Morning Doji Formation (Bullish) • Daily – Bullish engulfing candle yesterday (Bullish) • 4hr - Price action above downward trend resistance and Ichimoku cloud (Bullish) • 1hr – Forming Bullish Pennant (Bullish) Entry Level: 1964.745 Take Profit Level: 1983.725 Stop Loss: 1959.139 Risk/Reward: 3.39:1 Disclaimer – Signal Centre. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis, like all indicators, strategies, columns, articles and other features accessible on/though this site is for informational purposes only and should not be construed as investment advice by you. Your use of the technical analysis, as would also your use of all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features.
OANDA:XAUUSDLong
by Signal_Centre
1
Techno-Funda pickHero Motor is consolidating since Feb 21 and now it has given a Pennant / Bullish wedge breakout with good Volume. Hero is a market leader and consistently showed great growth on YOY basis. Still there is a significant upside left for the stock so in my opinion, one can do SIP in this stock without being worried for Stop loss simply because it has a great fundamentals. Buy it in instalments or on each dips and there will be few resistances before it tests its all time high ie 4000. CMP - 2892 W (6/3/23) T - 3100, 3500 W SL - 2700 W
NSE:HEROMOTOCOLong
by AbNamjoshi
FINNIFTY Expiry Day Trade Setup (30-May-2023)This will be my personal trade Setup, This is not an advice of any kind to initiate trade according to this setup. This is for only for my learning purpose and maintaining my trading journal. So with gap up today and from days price action forming like pennant or bull flag. Breaking this pattern could give good move if price opens flat only. For trade setup: 1.) If open flat will look for break of this pattern on either side if breaks on upside target will be Today's High (19615) then 19630. On Break of downside target will be 19431 then 19392. 2.) If opens gap up then will wait for price action to form and will trade only if it forms some pattern or if there is good setup. 3.) If open gap down setup will be same as point 2. As on expiry due to theta decay and because of some gamma moves premium values erode fast and they won't gain. so will only trade solid setup with small stop. Hit like to keep me motivated for keeping my trading journal as it only take less then few seconds to hit like but it gives me motivation for preparing for my session. Also one can comment on how I can make this trade journal better any improvements I need in it :) .
NSE:CNXFINANCE
by TradeInsights