Bearish pennant ~> $1 targetBearish pennant: flagpole = target.
Fibonacci -0.61 = target.
Both of these technicals show us we are going to the $0.98 area shortly :) daily chart 50ema/200ema show we are also in downward momentum. Enjoy!
Pennantbreakout
Bull Pennant on the 4HRBull Pennant on the 4HR.. With the Fed rate decision looming, good news could spark the fuse on this.
Ethereum (ETH) Bullish Pennant AlertEthereum continues to show a bullish setup with a long-term bullish pennant pattern forming on the chart. Based on Fibonacci extension levels, we can project both conservative and aggressive price targets, with the potential for a blow-off top around $20,000, aligning with the 200% Fibonacci retracement level.
Key Technical Highlights:
Pattern: Bullish Pennant (Continuation Pattern)
Current Price: ~$2.2k-$2.3k
Fibonacci Extension Levels:
1.272 Extension: $7-$7.5k
1.414 Extension: $7.5-$9.3k
1.618 Extension: $10k- GETTEX:13K
200% Retracement: $20,000 (Potential blow-off top target)
Why this setup is promising:
Bullish Pennant: Ethereum’s price consolidation within this pattern suggests a bullish continuation, with Fibonacci levels offering reliable price targets.
Strong Fundamentals: Increasing on-chain activity, network upgrades, and growing institutional interest support the potential for higher price action.
Volume Contraction: Volume has been contracting during the consolidation, a common precursor to a breakout.
Strategy:
Entry: Consider entering on a confirmed breakout above $2.7k with strong volume.
Stop Loss: Below $2k for risk management.
Disclaimer: This is not financial advice. Always conduct your own research before making investment decisions.
BTC - FINALLY - Bullish BREAKOUT? For the last few months, I've been preaching patience as we saw a multi-month correction play out, all as a part of the bigger-picture Elliot Wave playout.
The charts are looking positive after some bullish action started showing up from yesterday.
I'd be ready to say the corrective phase is finally over and we're starting the new impulse wave up IF Bitcoin can keep above this support level highlighted on the chart, around $63k.
This would validate a successful Flag-Breakout / Pennant breakout pattern.
However, if we close a daily UNDER this key support zone - it's likely that we're not there just yet. I'm still of the opinion we'll be on our way towards a new ATH close to December, as BTC loves Decembers historically.
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BINANCE:BTCUSDT
Sell AUDCAD Pennant BreakoutThe AUD/CAD pair on the M30 timeframe presents a potential selling opportunity due to a recent downward breakout from a well-defined Bearish Pennant pattern. This suggests a shift in momentum towards the downside in the coming Hours.
Key Points:
Sell Entry: Consider entering a short position around the current price of 0.9200, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum.
Target Levels:
1st Support – 0.9172
2nd Support – 0.9152
Stop-Loss: To manage risk, place a stop-loss order above 0.9230. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards.
Thank you.
|| SOLUSD || $200 INCOMMING FOR SOL!! ||Good day all.
the current market structure for sol is preping itself for a break out of the above level of key resistance (displayed in yellow). I will be discussing a series of confluences in the following points below to strengthen my case.
Sol has been in a consolidation phase roughly since April, creating a healthy level of support and resistance for future market structure, considering the consolidation being so close to ATH ($260) is remarkable and normally a great indication of further continuation into price discovery.
Bullish pennant: market structure for the past couple months have formed a bullish pennant. Price has reached a pivotal point of a potential break resulting in a target of $227 which is roughly a 43% increase in value, however, there is still some way to go as price is sitting right under a key level of resistance expressed between the prices, 173 and 178.
If price is able to break this key level and hold strongly above preferably on the daily chart, bullish sentiment will be high. I do feel price will break and briefly retrace off the level of resistance only to build up stronger support resulting in a push up and most probably through. This price action will be the healthiest and the most likely, as referenced from multiple market structures in a similar situation.
MA: My preferred averages consist of a 18 and 100 EMA, my averages position is currently crossing from bearish to bullish as my averages have converged (18 crossing 100). this convergence is normally a bullish signal when compiled with other bullish confluences.
Although my predictions for the medium term is bullish, there is absolutely a possibility that price can retrace back down to the key level of support resulting in a further strengthening of the current formation and overall heath of the market and future structure, however, I feel the break to the bulls is inevitable based on the overall bullish sentiment across the whole board of crypto assets.
I do not offer financial advice and this position should not be used as your only means of placing a trade, however, rather as an extension of your preexisitng ideas to place a trade.
Thank you for putting time in to read my Sol prediction. Make sure to let me know what you think whether you agree or not, constructive criticism will be appreciated!
Sell CAD/JPY Breakout PatternThe CAD/JPY pair on the M30 timeframe presents a Potential Selling Opportunity due to a recent breakout from a Bearish Pennant Pattern. This suggests a shift in momentum towards the downside in the coming hours.
Possible Short Trade:
Entry: Consider Entering A Short Position Below the Broken Trendline Of The Pattern After Confirmation. Ideally, This Would Be Around 115.70
Target Levels:
1st Support – 114.65
2nd Support – 114.12
Stop-Loss: To manage risk, place a stop-loss order above 116.10. This helps limit potential losses if the price falls back unexpectedly.
Thank you.
XAUUSD | GOLDSPOT | New perspective | follow-up detail [8 - 12]The gold price just hit a one-month high, and the Fed's next move is on everyone's mind!
The June US Nonfarm Payrolls (NFP) report showed a stronger-than-expected jobs gain, but revisions to previous months hinted at a cooling labor market. 📉
While average hourly earnings stayed flat month-over-month, they declined year-over-year, adding to concerns about economic growth.
All eyes are on the Fed: The recent string of weak economic data has increased expectations for an interest rate cut by September. The CME FedWatch tool shows the probability of a rate cut has jumped to 72%! 🚀
But it's not just the US economy driving gold's gains: The ongoing conflicts in the Middle East and Ukraine, along with the BRICS bloc's push for de-dollarization, are boosting demand for gold as a safe haven asset. 🛡️
This video breaks down the key market forces shaping gold's price, and how I'm using historical data on the charts and the economic calendar to plan my trading strategy this week. This analysis is crucial for understanding the current market trends and making informed decisions.
XAUUSD Technical Overview:
In this video, we take a detailed look at the XAUUSD chart, combining both technical and fundamental perspectives.
Our attention is still fixed on the key level at $2,350 for the upcoming week, historically significant and poised to steer trading dynamics. A sustained momentum above this mark could fuel further buying interest, potentially paving the way for fresh highs. Conversely, a bearish tilt below $2,350 might signal a resurgence of bearish sentiment.
Join me as we break down these factors and explore potential trading opportunities in the gold market. Don't forget to like, subscribe, and hit the notification bell to stay updated with my latest analysis and insights.
#Gold #GoldPrice #Fed #InterestRates #MarketAnalysis #Trading #EconomicCalendar #Geopolitics #BRICS #DeDollarization📺🔔💼
Disclaimer Notice:
Trading in the foreign exchange market and other instruments carries high risk and may not be suitable for all investors. The content provided here is for educational purposes only. Evaluate your financial situation and consult with a financial advisor before making any investment decisions. Past performance is not indicative of future results.
XAUUSD CONSOLIDATION BREAKPair: XAUUSD
Timeframe: 1H
Analysis: Round number level, trend line, volume profile , support and resistance, pennant pattern, consolidation
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Key Takeaway: For a full day we have seen the pair consolidate between 2332.8-2326.5 and we havent managed to break either levels. When the pair does we are either looking for a short or long trade depending on the confirmation of breakout (bullish or bearish). Once it does break out either way, we will look to take profits toward the top pennent resistance or bottom pennant pattern support trend line.
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Level needed: need a close above 2332.8 or a close below 2326.5
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Trade: NEUTRAL
RISK:REWARD 1:6
SL: —
TP: —
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DO NOT ENTER OUR SETUPS WITHOUT CONFIRMATION
XAUUSD Going to Wave 5XAUUSD now on wave 3 to wave 4 and make a pennant pattern. Gold often makes a pennant pattern from wave 3 to 4 to continuation on wave 5, now just waiting the pattern is completed and following the price rally to wave 5
Sell USD/CHF Bearish PennantThe USD/CHF pair on the M30 timeframe presents a potential selling opportunity due to a recent downward breakout from a well-defined Bearish Pennant pattern. This suggests a shift in momentum towards the downside in the coming Hours.
Key Points:
Sell Entry: Consider entering a short position around the current price of 0.8915, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum.
Target Levels:
1st Support – 0.8862
2nd Support – 0.8825
Stop-Loss: To manage risk, place a stop-loss order above 0.8970. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards.
Thank you.
Centaurus Metals ready to rip?After declining by more than 80%, Centaurus Metals has broken out of its downtrend. While this may be the first step in a multiweek base-building process for the nickel mine developer, the chance of a v-shaped bottom makes Centaurus worthy of a speculative add following this seriously bullish price action.
TRENT has a pennant pattern for an upward momentum upto 10%TRENT has been seen on a pennant chart pattern and is on the verge of a good breakout on daily TF after almost a consolidation of almost 2 months.
The company has increased institutional investing, a good 50% and above increase in sales QoQ growth for the last 3 quarters and EPS growth of 40% to 100% in the last quarter.
Good for swing traders. Can hold for about 10-15 days.
Entry - INR 4080 (Kept in WL, will wait for breakout with good volume.)
SL - (Swing Low) - 5%
TSL - According to your risk profile post 10%
Disclaimer: Please be advised that the information provided is not intended as financial advice. It is imperative to conduct thorough research before making any investment or trading decisions.
Sell XAUUSD Bearish PennantThe XAU/USD pair (spot gold) on the M30 timeframe presents a potential shorting opportunity due to the presence of a bearish flag pattern following a strong downward move.
Potential Short Trade :
Entry: Consider entering a short position (selling) below the broken support trendline of the flag after confirmation. Ideally, this would be around 2330 or lower if the price continues to decline.
Target Levels:
2272: This represents the height of the flag, measured from the flagpole (initial downtrend) to the top of the flag, projected downwards from the breakout point.
2240: This is a further extension of the downside target, based on the height of the flagpole.
Stop-Loss: Once the entry point is confirmed, place a stop-loss order above the broken support line of the flag, ideally with some buffer around 2340. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards.
Thank you.
Upward momentum of 10% -15% in IOC expected on BOSIOC has seen a consolidation on DTF (bullish pennant) after almost a consolidation of more than 60 days. Confirmation to be given on break of structure.
The company has a upwards of 500% increase in EPS QoQ growth for the last 3 quarters and increase in institutional interest.
Good for swing traders. Can expect an upward momentum of a min of 10-15%. Targets plotted on the chart.
Entry - INR 175
SL - (DL)
TSL - According to your risk profile.
Disclaimer: Please be advised that the information provided is not intended as financial advice. It is imperative to conduct thorough research before making any investment or trading decisions.
BTC-USD (BITCOIN)The btc pair creates a pennant in the 1D timeframe. If the market breaks this pattern then a big move is expected, there is also an order blocker in 1d at 52500-51000 range. If the market does not give respect to the downward order block and breaks above then the market goes above 85000.
ANF showing a pennant patternNYSE:ANF Showing a pennant pattern with a ~$50 upside. Buying on the dips.
USDCAD Trend Analysis Week of April 1stWeekly= Bullish.
Daily= Bullish.
4H= Bullish.
Weekly is in consolidation (Flag Pattern). Daily in bullish parallel channel.
1H bullish pennant breakout currently. Long-term expecting price to reach top of weekly consolidation/flag pattern (1.38800) then breakout to continue bullish movement to weekly zones. 1.41000 & 1.42000
Buy GBPNZD Bullish PennantThe GBP/NZD pair on the M30 timeframe presents a potential buying opportunity due to the presence of a well-defined bullish pennant pattern. This pattern often suggests a continuation of an uptrend, potentially leading to further advances in the coming minutes or hours.
Key Point s:
Recent Price Action: The recent price action shows the price holding above the support line of the pennant, indicating continued bullish momentum.
Buy Entry: Consider entering a long position around the current price of 2.0740, positioned near the support line of the pennant. This offers an entry point close to potential buying pressure.
Target Levels: Initial bullish targets lie at the following levels:
2.0900: This represents the height of the pennant, measured from the top to the bottom of the pennant, projected upwards from the breakout point.
2.1000: This is achieved by adding the height of the pennant to the breakout point (which coincides with the support line in this case). These targets act as potential resistance zones that could see buying pressure.
Stop-Loss: To manage risk, place a stop-loss order below the broken resistance line of the pennant, ideally around 2.0660. This helps limit potential losses if the price breaks down and invalidates the bullish pattern.
Thank you
Watching to see if we break the up side of a long term triangleNASDAQ:EA The daily chart shows a pennant forming, which has been broken by closing above the top of the pennant @ $140.
In the weekly view (shown here), there's a triangle pattern. Top of the triangle is ~$151 and was established in 2018 and tested in 2021. If the top of the triangle is tested and broken (closing above $151 for the week), then this has a lot of upside.
If $151 is tested and rejected, then we're heading back down to test the lower edge of the triangle.
Good Luck!
DDOG Ready to Make Another RunDDOG looking really attractive here. Came back down to test the support/resistance flip (blue area) and has been tightening in a pennant. Now resting on the 50 and 20 EMAs on the 65min. RSI right at 50 and looking to hold that and maintain strength.
Follow-Up Analysis on FSL: Confirmation of Pennant BreakoutBuilding upon the analysis conducted yesterday, it is observed that NSE:FSL stock has successfully experienced a breakout upside from the Pennant pattern. Today's price action has confirmed the Pennant pattern breakout, signaling a continuation of the prevailing uptrend. The breakout is characterized by a decisive move above the upper trendline of the Pennant, validating the technical analysis shared in the previous report.
Target Projection:
The target for this trade can be estimated by measuring the height of the pole formed before the Pennant pattern. The pole is the strong, vertical price movement that precedes the consolidation phase. To calculate the target, this measured distance is then added to the breakout point.
To protect against adverse price movements, a strict stop-loss order should be implemented. The stop-loss level is determined based on the characteristics of the Pennant pattern and should be placed just below the lower trendline of the pattern.
BALKRISIND - Pennant Breakout: A Promising Signal for Traders📝 In this educational technical analysis, I would like to discuss BALKRISIND. Understanding key technical terms and patterns, such as pennants and ascending triangles, can help new traders identify potential trade setups. Remember, I am not a SEBI registered analyst, and this analysis is solely for educational purposes.
BALKRISIND experienced a bull run from March 2020, starting at 650 INR and peaking at 2075 INR in September 2021. This move represents an impressive 314% increase.
After the bull run, a pennant pattern formed. Pennant patterns typically occur after a strong price movement and signify a brief consolidation before the trend resumes.
Pennant Breakout and Retest:
📈 On May 23, 2023, BALKRISIND witnessed a pennant breakout with good volume. However, what followed was an interesting development—a retest of the breakout level with strong volume. Retests are not commonly observed after pennant breakouts. Moreover, during this retest, an ascending triangle pattern formed on the 30-minute time frame, indicating a potential trend continuation.
🔎 Technical Term Explanation:
Pennant Pattern : A pennant pattern is a continuation pattern that occurs after a strong price movement. It is characterized by converging trendlines, resembling a small symmetrical triangle, and represents a temporary pause before the trend continues.
Ascending Triangle Pattern : An ascending triangle pattern is a bullish continuation pattern formed by a horizontal resistance line and an upward sloping support line. It suggests an ongoing uptrend and often leads to further price advances.
Potential Trade Opportunity:
🎯 Traders can plan their entry upon the breakout of the ascending triangle pattern, as it indicates a high probability of trend continuation to the upside. Monitoring the price action and volume closely during the breakout will help confirm the strength of the upward move.
Conclusion:
I appreciate your support and encourage you to like this analysis if you found it helpful. Feel free to share your observations and comments. Your feedback keeps me motivated to consistently provide valuable insights. If you want to stay updated with more technical analysis articles and trade setups, follow me on TradingView through the link: in.tradingview.com
💪 Remember, successful trading requires continuous learning and adapting to market conditions. As the saying goes, "The only way to do great work is to love what you do." Keep exploring and growing in the exciting world of trading! Happy trading! 📈💰
