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Pennantpattern

XRPUSDT wants the breakout from the key level?The price had a clear breakout from the descending channel and retest it as new support on 0.36$ area on 0.618 Fibonacci level. XRP got the liquidity from the false breakout from the 0.33$ area, where the market created the local demand zone At the moment the price is going to create a pennant just below the daily resistance and key level How to approach it? the price needs to create a new breakout from 0.41$ area, it's a clear and strong resistance for the price. For that reason, we could see an accumulation phase below this structure. ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <= 1h structure. Follow the Shrimp 🦐
by InkyGrip
22
CROX - bullish but near-term resistence overheadCROX is up 28% since breaking out from a 3 month sideway consolidation in early Nov2022. I posted about it on 6 Nov and placed a tight stop just under it's last bullish candle @ 76 and was never stopped out. It is now forming a bullish pennant (a positive) just under a horizontal resistence zone 109 - 111 (a negative). the chance of breaking up or pulling back from here is 50-50 right now. I will take 1/3 profits and tighten the stop for the rest to just under 100 (50% fib retracement of it's most recent mini upswing). Should the stock has a successful breakup above 111 eventually, then that will be another bullish trigger. Let's see how it goes. Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
NASDAQ:CROX
by Juliac
2
DGSTACC: MACRO ANALYSIS OF QQQ / PENNANT FORMATIONIn the chart above I have provided a simple analysis on what can be considered for when it comes to the overall market. 1. Pennant Formation is provided by taking higher lows and lower highs with a point of convergence. 2. If followed through Pennant path can force price action to previously seen pre-covid times. 3. This would in fact validate a completion of GOLDMAN SACHS 340 market bottom prediction for SPY if QQQ is to fall to 240. Note: This Macro chart will be used for reference and complete a more micro analysis of QQQ.
NASDAQ:QQQShort
by DGSTBROKERACC
Bear pennant.A bear pennant pattern has been spotted on daily time frame. With a pottential target of 0.80$ looks a good shorting opportunity. What Is a Pennant Chart Pattern in Technical Analysis? In technical analysis, a pennant is a type of continuation pattern formed when there is a large movement in a security, known as the flagpole, followed by a consolidation period with converging trend lines—the pennant—followed by a breakout movement in the same direction as the initial large movement, which represents the second half of the flagpole. (INVESTOPEDIA)
Short
by lvooldemort
Big move in VXX brewingWhat we have here is a very LOOONG pennant on VXX. We already had the breakout back in September and since then have created a whole pennant for the retest of the breakout. From how things look now, the apex of the smaller pennant is due to breakout no later than November 22. The yellow rectangles are gaps within the price action. The retest has a gap to be filled and the breakout target is RIGHT at the gap fill of the second from bottom gap. Breakout target for VXX is $27.30 Combine this chart with what I just recently shared on SPY, shows there are darker days ahead.
CBOE:VXXLong
by Pavley
BTC - another leg up #BTCHi everyone! The last btc long went fast and was on target (hurray). This play has more risk (under resistance). but 1) R/R ratio is just fine (2.78) 2) clear invalidation (monthly close + prev ath) 3) RSI consolidating at the higher band - usually indicating a bullish consolidaiton 4) so far looks like a bull pennant is forming, with target exactly at a high volume node In general it's better to wait for a breakout, but based on the chart (lots of stop loss orders - aka in this case buy orders above the range) so it's possible that there will be an aggressive move (later entry is questionable). GL & HF
Long
by krisztiankabat
1
daily chart analysis for SUMICHEMStock analysis for SUMITOMO CHEMICAL IND LTD keep watching add to watch list price falling each time when touches to upper trend line with conforming signal by RSI falling when it touch to 70 again price is testing upper trend line and RSI at 70 from here we can expect down side move in stock to lower trend line if price successfully closes above upper trend line then it may go more up side if price breakdown the lower trend line then rsi trend line will also break then will consider it more fresh selling and fall in price
NSE:SUMICHEM
by ProfitPicks
USD/CNH: Bullish pennant pattern formed – Yuan to fall to 7.20?The US dollar-Chinese yuan pair ( USD/CNH ) has been trading on a bullish pennant pattern since April of this year, and is currently testing the critical 7.00 threshold, which corresponds to the close of July 2020 and 78.6% Fibonacci retracement level (2022 lows to May 2020 highs). Following the PBoC's decision to reduce Chinese domestic banks' forex reserve requirement ratio by 200 basis points to 6% beginning September 15, the 7.00 mark level may face some selling pressure from the bears. This policy action could in fact free up dollars to be converted into Chinese yuan to sustain the economic slowdown caused by the reinstatement of Covid-19 restrictions. The USD/CNH pullback may find support at 6.89 (1 September lows) or 6.85 (61.8% Fibonacci level). But if 7.00 is broken, then 7.20 might be next. This target (7.20) represents the height of the flagpole when added to the breakout point and will complete the Fibonacci retracement to the highs of May 2020. Idea written by Piero Cingari, forex and commodity analyst at Capital.com
by Capitalcom
GALAUSDT is creating a pennantthe price is creating a penannt below an important resistance at 0.066 weekly resistance. The price bounced on the 0.5 Fibonacci level. How to approach it? IF the price is going to have a breakout from the pennant and weekly resistance and CONFIRM the weekly 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
2