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Pennant

Examining pennant & flat correction possibility In the previous ideas, we examined bearish possibilities. BTC 1H Short-trading idea Going to form a Bearish Flat? BTC in compression Where is the top of the Inverse H&S-like structure? Although arguably BTC is in compression, the bearish movement will likely resume - let's check this hypothesis. I laid out a tapering pennant to measure the price conversatio. This analysis is coherent with the above scenarios. So we may have a short position from around 17390, or we could make entry at 17200, 17400-17650, while recommended SL is over 17800 (manage your own risk). (i) Corrective Wave of Elliott wave theory Although there are a variety of corrective waves in EW theory, the bearish expanded flat would fit most appropriately for our presupposition. A flat correction wave comprises three waves, having 3, 3, and 5 minor wave structures, respectively. Wave A was a triangle that corrected to the upside, and wave B was a typical zigzag with a steep decline. Then wave C. We have seen substantially equalized two waves, implying a subsequent similar movement to form a triangle with five minor waves. (ii) Examining the current formation Let's look at the chart. Waves B and C shaped a beautiful Anti-Gartley. If this holds, the upside is limited; around 17200 would be the ceiling. This is convenient for triangles that often exhibit "failure" in Elliott's sense, which means failure to establish HH at the end of the fifth wave. On the other side, pennants see fakeouts, not unusually. If this is the case, a new high of 17400-17650 would be marked. A bearish flat setup as above is complete if the price turns around at either high. Flat correction (in Elliott's sense) is a robust directional movement often comparable with progressive waves.
Short
by jackrabbitrage
TWT: Bullish Pennant Breakout!Trade setup : After massive gains (>100%), price briefly consolidated in a Bullish Pennant pattern. Now price appears to have broken above the Pennant resistance (bullish) line to resume uptrend with upside to $2.75 resistance zone. Pattern : Bullish Pennant - forms typically following a sharp advance, followed by a brief triangular shaped consolidation in price (a small change in direction), before the previous uptrend (bullish) typically resumes. The period of consolidation should have lower volume and the breakouts should occur on higher volume. Trend : Uptrend across all time horizons (Short- Medium- and Long-Term). Momentum is Mixed as MACD Line is below MACD Signal Line (Bearish) but RSI > 55 (Bullish). MACD Histogram bars are rising, which suggests that momentum could be nearing another upswing. Support and Resistance : Nearest Support Zone is $1.80, then $1.25. The nearest Resistance Zone is $2.75.
Long
by altFINS
Bitcoin Analyze (Short Term, Timeframe 1H,11/27/2022)!!!Bitcoin was able to make a Bullish 🏁Pennant🏁 Pattern. I expect Bitcoin will go up at least until the trend lines after breaking the resistance line. Bitcoin Analyze ( BTCUSDT ), Timeframe 1H⏰. Do not forget to put Stop loss for your positions (For every position that you want to open). Please follow your strategy, this is just my Idea, and I will be glad to see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Long
by pejman_zwin
12
AUDCAD > What Is He best Place for A Buy!!Analysis of #AUDCAD Hi traders, today we will have a look at #AUDCAD The AUDCAD also broke out of its resistance structure level as you can see, and the perfect way of trading now is to look for a trend continuation pattern such as a Flag pattern, or wedge pattern, Triangle pattern, or wait for the market to come and test the previous structure support now becomes a resistance level I hope you guys found this helpful, if you are new here click on follow, to get these ideas delivered straight to your email inbox, I will see you guys at the next one Thanks for your continued support!
Long
by TheTradersAvenue
22
CHZ: Bullish Pullback in UptrendTrade setup : Price got rejected 4x at $0.27 resistance zone. Pullback near $0.15 support (also 200-day moving average) could be a swing entry in Uptrend with upside potential back to $0.27. Chiliz is a digital currency for sports and entertainment, powering the world’s first blockchain-based fan engagement & rewards platform Socios.com. Recently, there’s been some big news announcements with Barcelona FC. Trend : Downtrend on Short- and Medium-Term basis and Uptrend on Long-Term basis. Momentum is Bearish (MACD Line is below MACD Signal Line, and RSI is below 45). Support and Resistance : Nearest Support Zone is $0.15, then $0.12. The nearest Resistance Zone is $0.18 (previous support), then $0.27.
Long
by altFINS
2
TWT Trust Wallet - The pump is over, buy at these levels! TWT is a great token, but it looks like the price is too high at this moment, which is why I recommend buying the dip at lower levels! As you can see, the chart is printing a descending triangle at the top of the uptrend. This is definitely not a good sign at all. Descending triangles have a higher probability of breaking down. I made a descending parallel channel projection on the LOG scale, which can be very useful in the future. Usually, triangles turn into channels. The impulse wave has been completed, and we are looking for a retracement. I will give you the two most important levels where you can place buy orders. 1.46 USDT and 1.22 USDT are great levels to buy TWT. If you missed the pump, it's not a problem at all. I will trade this altcoin once it reaches my levels for short-term gains! The first level on the log scale is the 0.618 FIB, which is, of course, a very strong support. We should see a lot of buyers at this particular level. The second level is based on price action. We have an unfilled gap from the previous uptrend that can be filled in the short term. On a higher time frame, it is also a breakout level of the previous market structure. The platform was acquired by Binance in July 2018. So there is a huge expectation for the Trust Wallet token. Binance is currently the most reliable crypto exchange in the world. A 26–40% correction is possible. I will take this opportunity once the price reaches my targets. For more ideas, hit "Like" and "Follow"!
Short
by UnknownUnicorn2537518
41
Bitcoin - The bears will crash BTC again! (Great opportunity) From November 21 to November 24, we had a pretty nice uptrend. It lasted only 3 days, and the structure of the uptrend is bearish. As per my Elliott Wave analysis, it was an ABC correction because I can see only 7 waves, which is a typical correction with an extended wave A. Bitcoin is the most bearish asset, and it's absolutely a pleasure to short Bitcoin or Ethereum! A new week started, and Bitcoin broke out of the symmetrical triangle pretty hard. October and November are extremely bullish months for Bitcoin, but this time we dumped, and Bitcoin continues in free fall. The right question is now: When will we reach 10,000? not if we reach 10,000. After we reach 10K, I think we will have a massive bounce back to 15K or so. Make sure to follow me so you do not miss important information on this expected bounce! If you want to trade bitcoin, the best strategy is "short only." So wait for pullbacks and shorts. I expect the ultimate bottom for Bitcoin to be between 6500 and 10300 USD. I am very happy to provide you with these analyses; stay strong!
Short
by UnknownUnicorn2537518
64