Solusdt forming a pennant pattern which is considered as bullish pattern as well as bearish pattern it's depends upon which side the pattern breaks upside or downside. Now we can see sol is sitting at good buying price (trend line support)in short timeframe with proper stoploss. Because there are 30-50% chances of breakdown. (Tight stoploss necessary) . not a...
IOTAUSDThad a false breakout from its daily resistance level and is currently consolidating below it. The market is creating a pennant, which is a common technical chart pattern that can indicate a potential continuation or reversal of the current trend. Traders who follow technical analysis may be watching for a breakout from the pennant pattern to signal the...
GRTUSDT is creating a pennant below the 4-hour resistance level, following a previous bull run. A pennant is a technical chart pattern that is formed when the price moves within converging trendlines, forming a symmetrical triangle shape. The pattern is characterized by a sharp price move in either direction, followed by a consolidation phase where the price...
As per the previous idea, ETHUSDT had a nice impulse, indicating a potential uptrend in the market. Currently, the price is creating a pennant on a weekly key level, which is a significant level for traders to watch out for. A pennant is a technical chart pattern that is formed when there is a sharp price movement, followed by a consolidation phase and then a...
Breakdown & retest of massive pennant Start of stage 4 decline
In the chart above I have provided an analysis for the pennant formation seen in the four hour time frame for QQQ along with channel confirmation. 1. 270 is crucial point for QQQ to hold in order to avoid being pulled into a demand zone on the fibonacci. 2. Spike on the 13th of December confirmed rally top. 3. BREAK OF 270 BEYOND AT THIS POINT WOULD CONFIRM A...
Algo has been forming a bullish pennant structure on the 4H time frame. Depending on how it breaks the structure, we might see strong price action. Right now it seems to be breaking the bullish trendline on the downside. Remain cautious and operate with tight stop loss
This inverse ETF allows you to short bitcoin. Bitcoin is breaking down from weekly pennant. You don't need to know what's going to happen next to make money ~Mark Douglas Lose like a pro and keep trading, or lose like a novice and quit ~Mark Ritchie
Hi! $CRWD displays a fantastic symmetrical H&S top formation. This is accompanied by a bear pennant formation forming at the neck line breakdown area of $169. The entire formation is bearish. Nothing about this stock appears friendly. PE is 167 and trading at 43X price to book, (which is very expensive).
I'm not really trading off of patterns, but this seems like a bearish pennant to me. We'll most likely break lower in the next days /weeks and head down to the low from 6/17 or even lower support zones. I'm hedged as off now with expirations in August and September.
The price is in the accumulation phase between two daily structures, 1$ and 1.4$. On the 4h timeframe, the price is creating a pennant and had the market had a false breakout from the channel on 1.5$, it got the liquidity in order to retest the support. How to approach it? The price needs to create a new breakout from the daily resistance and 4h resistance. it...
With BTC in a similar bearish pennant formation, both remain in danger of forming a lower low and moving to the next significant level of support.
The price is creating a pennant above the Weekly support of 0.51$, in that area, the market created a demand zone (0.48$) so the price could grab new liquidity from it. How to approach? IF the price is going to lose the 4h support on 0.54$, According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly...
The price is creating a pennant on the key level after a clear rejection from the 8.8$ area. and retested the 0.618 Fibonacci level as new resistance How to approach? IF the price is going to have a breakout from the pennant and retest the key level as new resistance, According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple...
The price is creating a pennant on the 4h timeframe. The market is creating higher low higher high, it means that the we are in consolidation phase. Usually Pennant is a continuation pattern. How to approach it? We are monitoring the 19.5 support where the price created a equal lows. so if the price is going to have a breakout and retest this support as new...
It seems bitcoin is forming a bearish pennant pattern in 4h timeframe. If so, we should expect a breakdown.
The market got a rejection exactly from the weekly resistance of 0.29$ and the price is going to create a pennant on the daily timeframe. On the 4h timeframe, the price is going to retest the 0.25$ resistance on the M's neckline. As you can see on the 4h timeframe (the lower one) the price created a double top of 0.29$. How to approach? We could see a pullback...
The price is creating a pennant on weekly support of 44200$ after a rejection from 47k, where the market has a supply zone. on the daily timeframe, the price is testing the previous resistance as new support. How to approach? The price is creating a pennant and retesting the lower trendline. The price needs a new breakout from it and flip the 47k resistance into...