PennantTrading

PennantTrading

Looking to go long over previous days high ($65.60) or buy a pullback around $59. Why: Cup and handle chart pattern High volume green days

PennantTrading

Looking to buy a pull back around $16.75 Why: High volume green days Uptrend Bullish EMAs

PennantTrading

Looking to go long after break over $8. Why: Bullish Engulfing Candle June 13th Bullish 20EMA 200EM crossover Higher volume on green days than red

PennantTrading

Looking to go long with a breakout above $100.25 Why: Consolidating above all EMAs MACD primed for bullish cross over PEG 20d EMA lining up with support/resistance line

PennantTrading Updated 

Looking for a pull back to around $209.50 or a break out above $215. Why: 20EMA and $209 resistance are lining up On an uptrend Possible Cup and Handle forming

PennantTrading

Looking for a breakout with volume above $8.15 Why: Rounded bottom MACD primed for bullish crossover Uptrend Price is above all EMAs Target is 1.618 extension

PennantTrading

JPM on Watch Looking for a breakout over $169.50 with volume. Why: Bounced off red 20d EMA Approaching resistance MACD looks ready for a bullish crossover

PennantTrading

Watching the pullback here. Looking for an entry, but not going to try and catch a falling knife. Why: Strong uptrend 20EMA is aligning with .5 retracement Could be low risk high reward depending on entry

PennantTrading

Long or short position could be setting up. I see two potential patterns forming. 1. Long: Inverse Head and Shoulders (orange) 2. Short: Diamond top (purple) Price also bounced off Daily 20 EMA

PennantTrading

Looking for a break above $176.50 and retest before entering. Why: Broke out of long term channel Made a strong recovery after shakeout on May 30th Above all major EMAs on daily and weekly

PennantTrading

Looking for a break above $137 and then a retest before entering. Why: Rounded bottom/saucer Increased volume on green days Shakeout on June 9th Reacting well to previous support and resistance lines

PennantTrading

Long and short trade ideas for QQQ. Hard to tell where price is going in the short term, so avoiding swing trades for now. Long Trade Idea Entry: Below previous high and a 1.618 Fibonacci level. Target: A past day's 1.618 Fibonacci level Short Trade Idea Entry: Above the channel drawn on the Daily chart Target: Past day's 1.618 Fibonacci level. Exact...

PennantTrading

Amazon is playing well with this resistance zone. I have a short and long entry set based on Fibonacci levels. Long trade idea: Entry: Above Supply zone Target: A 1.618 Fibonacci level drawn in the past. Short trade idea: Entry: Below Supply zone Target: 1.618 Fibonacci Whither I enter the trade or not depends on price action. KEY: -White Horizonal...

PennantTrading

Price today was rejected at a 1.618 Fibonacci level. I entered a successful short position and intend to get back in for another day trade. Since it previously reacted to a Fibonacci level, it may continue to do so. The 1.618 for Fibonacci 2 happens to be the start of Fibonacci 1, which is also a previous high/resistance point. Price is already headed...

PennantTrading

IWM short worked out well on Friday 1/18/2025. Going to try for it again this week. Entry is right below the supply zone, the stop is right above it. Target is the top of the gap. My decision to enter or exit depends on price action. KEY: -White Horizonal Lines: Resistance levels (multiple timeframes). -Green boxes: Supply or demand

PennantTrading

AAPL is playing well off the yellow trendline drawn on the daily chart. Two trade ideas setup based on the green support zone. Entering or not depends on price action around the entry price. Not looking to take a swing trade in AAPL until it decides to either break through the trendline or bounce away from it. Targets are 1.618 fib levels drawn on the hourly...

PennantTrading

Sharing this on the hourly, but the daily chart is what caught my eye. The 1/17/2025 dip got bought right up. There could be a little but of a head and shoulders patter going on, meaning it may turn bearish, but I think one good bullish move up is not out of the question. KEY: -White Horizonal Lines: Previous High/Low, multiple time frames. -Green Horizontal...

PennantTrading

QQQ reacting nicely to the Channel. I'm short term bearish on this. I think it needs a 2%-3% pullback before it breaks out for good. Since the 1.618 fib is right there, and the wick for Friday's (1/17/2025) candle was rather bullish, I could see a fake breakout to the fib and then break back down into the channel. I also have a long position set up just...