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Pennant

Euro can leave pennant and continue to decline nextHello traders, I want share with you my opinion about Euro. Looking at the chart, we can see how the price some time ago started to trades inside range and at once reached the top part, after which started to decline. The price quickly fell to the 1.0815 support level, which coincided with the buyer zone, and some time traded between this level. After this, the Euro dropped lower 1.0815 level, breaking it, and also exited from the range, after which the price entered to upward pennant. In this pattern, EUR at once made a strong upward impulse from the support line to the resistance level, breaking the 1.0815 support level one more time. Next, the price broke the 1.0930 level, which coincided with the seller zone, and rose until to resistance line of the pennant, after which turned around and in a short time declined lower than the 1.0930 level, breaking it again. After this, the EUR tried to rise back, but when it entered to seller zone, it made a correction movement to support line of the pennant pattern. But a few moments ago it rebounded from this line and at the moment EUR trades near the resistance line. So, I think that the price can fall to the support line, after which bounces up to the resistance line and then continues to decline, exiting from the upward pennant as well. Therefore I set my TP at 1.0850 points. Please share this idea with your friends and click Boost 🚀
Short
by LegionQ8
6
EURO - Price can bounce down from pennant to $1.0840Hi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊 A not long time ago price started to grow inside rising channel, where it in a short time rose to $1.0940 level. Also, in channel, price formed two gaps, and when EUR reached $1.0940 level, it started to decline in falling channel. In this channel, price declined until to $1.0800 level and even made fake breakout, after which made upward impulse. As well, price left falling channel, and entered to pennant, where it rose higher than $1.0940 level, breaking it. After this, EUR soon turned around and fell to support line of pennant, breaking resistance level one more time. Now, I think that price can reach resistance line and then bounce down to $1.0840, exiting from pennant. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Short
by WalterMoon
3
Bitcoin can exit from pennant and continue to grow to 63K pointsHello traders, I want share with you my opinion about Bitcoin. Observing the chart, we can see that the price some time traded in the range, where it fell to the resistance level, which coincided with the seller zone, and then rebounded up to the top part of the range. Then BTC turned around and dropped lower than the 66700 level, breaking it and some time traded in the seller zone. Later price continued to decline inside the downward pennant, and fell until to the 55000 support level, which coincided with the buyer zone and even broke this level. Next, BTC fell to the support line of the pennant, turned around, and in a short time rose to the 55000 level, broke it again, and continued to grow. But a not long time ago it made a correction to the support line of the pennant and then rebounded up to almost the resistance line, where at the moment continues to trades near. In my opinion, Bitcoin can make small movement down and then rebound up, higher than the resistance line, exiting from the pennant pattern. For this case, I set my TP at 63000 points. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
3
Bearish Signals on AluminiumAluminium versus the USD (ticker: XAL/USD) has traded southbound since reaching a high of $2,800, limited between a descending channel (extended from $2,800 and $2,475). Adding to the bearish vibe, price action manoeuvred below trendline support, taken from the low of $2,110, and retested the underside of the ascending line to form resistance. What also might interest technical analysts is the head and shoulders top pattern (head at $2,800), which was completed in mid-July (neckline breached). Price has yet to reach the pattern’s profit objective at $2,131, therefore, further underperformance could be seen for the base metal this month. In addition to this, you may acknowledge the potential for a bearish pennant pattern to form (drawn from the high of $2,321 and $2,206).
FPMARKETS:XALUSDShort
by FPMarkets
EURO - Price can break support level and decline to $1.0840Hi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊 A few moments ago price entered to wedge, and bounced from support line to $1.0910 level, and started to decline. In a short time price declined to support line, breaking $1.0740 level, and even made a fake breakout of support line from wedge. Next, Euro exited from wedge and started to grow inside pennant, where it made first gap and broke $1.0740 level. Then price rose to resistance line, forming a second gap and breaking $1.0910 level, but soon turned around. Euro in a short time declined to support line of pennant, after which made upward impulse and now trades in resistance area. Possible, price can rise a little and then break support level and fall to $1.0840 If this post is useful to you, you can support me with like/boost and advice in comments❤️
Short
by WalterMoon
nas100 Identifying Key Levels The chart highlights several significant levels and zones that influence the current market behavior: • PMH & PML: Previous Month High and Low, serving as significant resistance and support levels. • PWH & PWL: Previous Week High and Low, indicating recent market highs and lows. • PDH & PDL: Previous Day High and Low, indicating recent market highs and lows • Daily FVG: Daily Fair Value Gap, indicating areas of market imbalance. • BSL: Buy-side Liquidity, areas where buy orders are placed. • SSL: Sell-side Liquidity, areas where buy orders are placed. • Always wait for confirmation
FUSIONMARKETS:NAS100
by tanasepatasanu
After exiting of pennant, Gold can make retest and continue riseHello traders, I want share with you my opinion about Gold. By observing the chart, we can see that the price started to grow inside the upward channel, where it rebounded from the support line at once and quickly rose to the resistance line. Then XAU made a correction to the support line, after which continued to grow inside the channel to the resistance level, which coincided with the seller zone. Soon, Gold broke the 2430 level and rose higher than the resistance line, thereby exiting from the upward channel. Next, the price entered to pennant, where it at once turned around and started to decline. In a short time, the price dropped lower 2430 level, breaking it, after which tried to grow but failed and declined more. Gold fell firstly to the 2375 support level, which coincided with the buyer zone, and soon broke it and fell until to the support line of the pennant. But then, the price started to grow from this line and in a short time rose higher than the 2375 level, breaking it and recently exited from the pennant also. At the moment, I think Gold can make a retest, after exiting from pennant and then continue to grow to the 2430 resistance level, therefore I set my TP at this level. Please share this idea with your friends and click Boost 🚀
FOREXCOM:XAUUSDLong
by LegionQ8
2
EURO - Price can leave pennant and grow to $1.0890 pointsHi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊 Recently price entered to rising channel, where soon broke $1.0850 level and then reached resistance line of channel. Next, price little corrected and then reached $1.0910, after which made a gap and then made movement down. Then Euro made upward impulse to resistance line of channel, breaking $1.0910 level, but then it started to decline. Soon, price left channel and broke $1.0910 level again, after which continued to decline in pennant. In pennant, price declined to support and even lower, to support line of this pattern, but recently backed up to resistance line. Now, I think price can fall to support area again and then bounce up to $1.0890, exiting from pennant. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
6
|| HBARUSD || BREAKOUT PATTERN INCOMING!Current market sentiment has been fairly bullish resulting in a great week for the top 10 crypto assets, however, we are still to see a snowball effect onto assets outside of the T10. Today I shall be discussing my perspective on the current Hbar market structure and why I feel it will be caught by the snowball to come. At the time of writing this report, Hedera is sitting at 0.0737, which is also a strong level of resistance depicted by the fib retracement I have placed (38.2%) Patterns: Let me start off with the defending bullish pennant we are currently in. This pattern although a good confluence alone, has been suppressed by the fib retracement 50% ($0.0720) which has in turn created a double bottom suppression breakout formation. Both the pennant and double bottom patterns have targets set at 0.080, however, there is a level of resistance as my conservative target at 0.0785-93. I expect price to break to the baseline of my DB formation at 0.0756 before completing the pennant formation by converting the pattern resistance into support before continuing. this action will add confluence to my projections. Slightly bearish yet healthy alternative would be if price was to fall below 0.0720 (50% fib) to the golden ratio set at 0.0703-698. This movement would of course void the existing double bottom, however, would add additional confluence in the bullish pennant narrative. Price range to watch over in the following days are between 0.0756 (resistance + baseline of DB) and 0.0720. A break from either levels will result in a fairly impulsive move to our conservative target (0.0785-93) or to our golden ratio (0.0703-698) Thank you for your interest in my report. I truly hope you were able to receive some informative insights on the current Hbar market that is able to aid your pre-existing perspective on the Hbar price structure. THIS IS NOT FINANCIAL ADVICE!
Long
by Crisp_Flow
3
GOLD - Price can bounce down from pennant to $2340Hi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊 Some days ago price bounced from $2375 level and tried to grow, but soon turned around and made downward impulse. Price broke $2375 level and entered to flat, where it little later made fake breakout of $2375 level and bounced down. Then Gold rose almost to top part of flat and then corrected, after which started to grow inside pennant. Some time later price exited from flat, made small movement down to support line of pennant, and then bounced up. Gold broke $2375 level and rose to resistance line of pennant, but not long time ago corrected to support line. Possibly, price can make little move up and then bounce down to $2340, breaking support level and exiting of pennant too. If this post is useful to you, you can support me with like/boost and advice in comments❤️
OANDA:XAUUSDShort
by WalterMoon
2