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Pennantbreakout

COMP/USDT : Moving into a pennantBINANCE:COMPUSDT Hello everyone 😃 Before we start to discuss, I'll be so glad if you share your opinion on this post's comment section and hit the like button if you enjoyed it! $COMP is moving into a bullish pennant and so, As you know bullish pennant target is calculated by the flag's pole. Currently, We didn't experience the breakout yet and it has caused two scenarios for us : - Take Long at the bottom of the pennant with an SL at $41 as active stop-loss on 4H TF. - Take Long after a proper break above the marked resistance zone at $50.68. The minimum target of the pennant is located at $70.10! Hope you enjoyed the content I created, You can support us with your likes and comments! Attention: this isn't financial advice we are just trying to help people with their vision. Have a good day! @Helical_Trades
Long
by Helical_Trades
11
BTCUSDT wants to retest the 19k?The price is testing the 0.5 Fibonacci level on the 4h resistance at 20600$. The price created a local double bottom on 18800$. The price could create a new bullish impulse in order to grab new liquidity for the next bearish impulse. Hot to approach it? IF the price is going to lose the current support we could see a retest of 19000$ area, otherwise we could see a bullish impulse in order to grab the liquidity at 21500$ for the next bearish impulse. The scenario is invalidated above 22k ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure.
by InkyGrip
9
THETAUSDT ready for the breakout?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 needs to retest the 4h resistance as new support, According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
Long
by InkyGrip
4
Long-term View for EthereumETH is currently attempting to distribute into a bottom. Looking at history as a guide, I found that it broke out massively into a pennant after basing during its 2015-2016 time period. After consolidating from 2016-2017, it broke out once again- rallying a whopping 23,000% in a year. Notice that this major breakout occurred when the price found support right at the 2015-2016 base's prior resistance. Fast forward to today, I find that we're in a technically similar situation. We've witnessed a sizeable basing period from 2018-2021 with a breakout that proceeded into a pennant currently being constructed. I believe we'll bottom entirely when we touch the 2018-2021 base's initial resistance, showing the completed pennant (around $1500). It just so happens that the merge to ETH 2.0 is rumored to occur during August, right where I assume the completion of the pennant will occur. GLTA!
BITSTAMP:ETHUSDLong
by ClargyInvesting
TOMOUSDT is inside a pennant 👀The price is creating a pennant above the Weekly support of 0.51$, 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 structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
TShort
by InkyGrip
8
JNJ bullish scenario:The technical figure Pennant can be found in the US company Johnson & Johnson (JNJ) at daily chart. Johnson & Johnson is an American multinational corporation that develops medical devices, pharmaceuticals, and consumer packaged goods. Its common stock is a component of the Dow Jones Industrial Average and the company is ranked No. 36 on the 2021 Fortune 500 list of the largest United States corporations by total revenue. Johnson & Johnson is one of the world's most valuable companies, and is one of only two U.S.-based companies that has a prime credit rating of AAA, higher than that of the United States government. The Pennant has broken through the resistance line on 23/05/2022, if the price holds above this level you can have a possible bullish price movement with a forecast for the next 6 days towards 184.37 USD. Your stop loss order according to experts should be placed at 172.71 USD if you decide to enter this position. Johnson & Johnson is now working to spin off its consumer health division and after the company entered a series of settlements for its part in the opioid crisis. First-quarter metrics were mixed, but the company's medical devices business had few declines. Now, the Dow index stalwart expects $94.8 billion to $95.8 billion in 2022 sales. That no longer includes prior expectations for $3 billion to $3.5 billion in Covid vaccine sales. Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
NYSE:JNJLong
by legacyFXofficial
AXSUSDT is creating a pennantThe price is creating a pennant on the 4h timeframe. The market is creating higher low higher high, it means that the we are in consolidation phase. Usually Pennant is a continuation pattern. How to approach it? We are monitoring the 19.5 support where the price created a equal lows. so if the price is going to have a breakout and retest this support as new resistance, According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
Short
by InkyGrip
4
NEARUSDT is creating a pennantThe price is creating a pennant between daily and weekly support after a big bearish impulse. the price is testing a key level on the 6.5$ How to approach? We could see a new false breakout from the pennant. The price could grab new liquidity and retest the 5.5$ and create a double bottom. According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
Short
by InkyGrip
8
SOL/USDT : Formed a bearish pennant ! KUCOIN:SOLUSDT Hello everyone 😃 Before we start to discuss, I'll be so glad if you share your opinion on this post's comment section and hit the like button if you enjoyed it ! $SOL has formed a bearish pennant at current level, So the majority is with bears. But as always; We have to be ready for both phase of market ! That's why I mentioned two trading setups on the chart. - If we get the rejection below the pennant, Then I'll located my Short on a proper retest of marked blue zone and aim for $84 . Trading Setup have been mentioned on chart ! - If we get the break-out above the pennant, Then I'll wait for another confirmation of break-out above the local S/R zone a $106; I'll locate my Long on a proper retest of broken S/R zone and aim for $19.5 . Trading Setup have been mentioned on chart ! Hope you enjoyed the content I created, You can support us with your likes and comments ! Attention: this isn't financial advice we are just trying to help people on their own vision. Have a good day! @Helical_Trades
by Helical_Trades
16
GALAUSDT is going to retest the dynamic supportThe market got a rejection exactly from the weekly resistance of 0.29$ 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$. How to approach? We could see a pullback on the previous support now resistance and a new bearish impulse until the dynamic support on 0.24$ –––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure.
Short
by InkyGrip
2