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Pennant

Gold can rebound from resistance level and continue to fallHello traders, I want share with you my opinion about Gold. By observing the chart, we can see that the price rebounded up from the current resistance level to the 2400 level, which coincided with the seller zone and even rose higher, but when it reached the resistance line, the price turned around and started to fall. In a short time, the price declined to the resistance area, breaking 2400 and 2305 levels, and some time traded near the resistance area. Later, the price fell lower than the 2305 level again and entered to upward pennant, where it turned around of support line and made a strong impulse up to the resistance line, breaking the 2305 level one more time and also the resistance line with the 2400 level. Soon, the price turned around and in a short time declined from the resistance line of the pennant to the support line, breaking the 2400 level again. After this movement, Gold tried to rise and even reached the resistance line of the pennant, after which it made a strong impulse down, thereby exiting from this pattern and recently broke the 2305 level too. Now, the price trades inside the resistance area, and in my opinion, Gold can rebound from the resistance level and continue to decline, therefore I set my target at 2250 points. Please share this idea with your friends and click Boost 🚀
FOREXCOM:XAUUSDShort
by LegionQ8
BITCOIN - Price can continue move up to resistance levelHi guys, this is my overview for BTCUSDT, feel free to check it and write your feedback in comments👊 Recently price little declined and then bounced up to resistance level, which coincided with resistance area. But then it started to decline inside pennant, where it fell to support line, breaking $67500 level. After this BTC turned around and made strong upward impulse to $70300 points, exiting from pennant. Then price continued to grow in wedge, where it broke $70700 level, but a not long time ago made downward impulse. Bitcoin broke $70700 level and exited from wedge also, falling to $68300 points, after which it started to grow. At the moment, I think BTC can little decline again and then continue to grow to $70700 resistance level. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
Euro can rebound from support level and start to move upHello traders, I want share with you my opinion about Euro. Observing the chart, we can see that the price a not long time ago started to decline inside the downward channel, where it rebounded from the support line and rose to the resistance line, after which continued to decline near this line. In a short time, EUR fell to a support level and even made a fake breakout of it, after which turned around and made a strong upward impulse, exiting from the downward channel. Then price almost reached the resistance level, turned around, and fell lower 1.0810 level, breaking it. But then, EURUSD turned around and started to grow inside an upward pennant, where it broke the support level again and later the resistance level too, reaching the resistance line of the pennant. After this, the price bounced down, breaking the 1.0890 level, which coincided with the seller zone again. But then, the price tried to back up and even made a fake breakout of this level, after which made impulse down, exiting from the pennant. Now, I think that the Euro can decline to a support level and then start to grow, therefore I set my target at 1.0870 points. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
1
Bitcoin can break resistance level and continue grow in channelHello traders, I want share with you my opinion about Bitcoin. By observing the chart, we can see that the price reached the resistance level and even entered to the seller zone, where started to decline inside the downward pennant. In this pattern, it fell to the support level, which coincided with the buyer zone and also reached the support line of the pennant, after which rebounded up to the resistance line. Then BTC exited from a downward pennant and fell lower than the 60200 level, but soon it turned around and started to rise inside the upward channel, where BTC broke the support level one more time. Next, the price made retest and continued to move up in the channel and even made a fake breakout of the resistance line, but when Bitcoin touched the resistance level, it at once rebounded back to the channel. But a not long time ago price rebounded from the support line of the channel to the resistance level and now continues to trades very close to the 71200 level. So, that's why I think that BTC can make a correction movement to support line of the channel and then rebound up higher that resistance level, breaking it. After this move, the price can continue to move up in the upward channel, therefore I set my target at 75000 points. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
7
GOLD - Price can turn around and start rise to resistance levelHi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊 Some time ago price entered to rising channel, where it soon broke $2320 level, which coincided with support area. Then price continued to grow in channel and later reached $2390 level, which soon broke also and continued move up. Soon, price left channel and started to decline in pennant, where it broke $2390 level again and fell to support level. Some time price traded near this level and reached support line of pennant, after which bounced up to resistance line. But recently, Gold fell back and now trades very close to support line of pennant, so, I think price can little fall. After this, XAU can turn around and bounce up to $2390 resistance level, exiting from pennant. If this post is useful to you, you can support me with like/boost and advice in comments❤️
OANDA:XAUUSDLong
by WalterMoon
1
I Cannot Short This !!! situation+next targets.BINANCE:JASMYUSDT broke out the bull Pennant on 3D timeframe Up we go📈 Traders, if you liked this idea or have your opinion on it, write in the comments, We will be glad. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ ✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟! ⚠️Things can change... The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
Long
by CobraVanguard
3
ETH Bullish Pennant | ETF approval confluence | Target: 2021 ATHNot Financial Advice TL;DR Bullish Pennant on BINANCE:ETHUSDT daily chart, upwards breakout target would be very close to 2021 ATH. SEC approval of VanEck ETF (final deadline on May 23) could be a major catalyst. A rare case of (potential) technical and fundamental confluence: ETH has been building a Bullish Pennant since the end of the Feb 5 - Mar 12 rally The retest of the multi-month support in place since October 2023 might signal that the bottom is in The final deadline for SEC's approval of VanEck's ETH ETF lines up almost perfectly with the convergence between the pennant's resistance and the multi-month support Interestingly enough, the target for an upwards breakout of the pennant around VanEck's approval deadline would be very close to the 2021 ATH
Long
by AliferCrypto
3
Dollar Index: Sell-On-Rally Scenario?According to the US Dollar Index, the US dollar recently elbowed south of its 200-day simple moving average (SMA) at 104.43. This follows a rejection of resistance from 105.04 on the daily chart, which, as you can see, shares chart space with the 50-day SMA at 105.08. Early Downtrend Regarding trend studies, an early sign of a downtrend is seen through the handful of lower lows and lower highs formed after reaching a high of 106.52. Further supporting the downside bias is the Relative Strength Index (RSI) holding south of the 50.00 centreline (indicating average losses exceed average gains). Chart pattern enthusiasts may have also recognised the recently completed bearish pennant pattern, drawn from between 104.08 and 105.11. Price Closing in on Retesting the Lower Side of Resistance Although price action printed a moderate recovery yesterday, today’s movement shows price attempting to extend recovery gains. This could be sufficient to draw the Index back to the underside of the 200-day SMA and the lower boundary of the breached bearish pennant pattern’s structure, which may offer sellers enough resistance to fade. So, with everything on show, bears still appear to be in the driving seat ahead of today’s US ADP non-farm employment change report and the US ISM services data.
TVC:DXYShort
by FPMarkets
$FTM Bull Case - Multiple TargetsBINANCE:FTMUSDT is looking quite bullish, with a very clean chart and well respected Fibonacci retracement levels. The support is sitting right at 61.8% of the last leg up. (Common reversal level) I think the chart is open to multiple interpretations, each with a different target: Descending Triangle : $1 Also a key psychological level and a previous resistance. Bull Pennant : $1.15 Previous resistance and close to the top from last March. Elliott Wave W3 : $1.3 or $1.62 If $0.76 is the local bottom, it would be a perfect Wave 2 end (61.8% of Wave 1). According to Elliott Wave theory, the Wave 3 target would be either $1.3 (161.8% of W1) or $1.62 (261.8% of W1). $1.3 is also a key support from 2021/2022. $1.62 is also a resistance from 2022. My strategy for this will be: Open a long position after a break above the resistance trendline, with a wide SL Take partial profits at each target Starting from $1.15, move my SL up below the previous target Not Financial Advice
Long
by AliferCrypto
GOLD - Price can bounce up to $2380, leaving pennant paternHi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊 Some days ago price bounced up to resistance level, which coincided with resistance area, and at once turned around. Also, price started to decline inside falling channel, where it declined lower than $2315 level, breaking it. But when Gold reached $2277 points, it turned around again and tried to rise, and some time later made upward impulse. Gold finally broke support level, exited from falling channel, and continued to rise in pennant pattern. In pennant, price made fake breakout of $2420 level, after which declined to support line, where continues to trades now. In my mind, XAU can bounce up from support line, exit from pennant, and continue to rise to $2380 If this post is useful to you, you can support me with like/boost and advice in comments❤️
OANDA:XAUUSDLong
by WalterMoon
5
JASMY: Potential Bullish Pennant Breakout!Hey everyone! If you enjoy this content, please consider giving it a thumbs up and following for more analysis. JASMY is currently testing the top of a potential bull pennant pattern on the daily timeframe. A confirmed breakout could signal further bullish momentum. Buy some now and add more in the dip. What to Watch For: Confirmation of Breakout: A daily close above the resistance level of the pennant strengthens the bullish case. Volume: Higher trading volume on the breakout can increase confidence in the signal. Possible Entry & Targets (for educational purposes only): Entry: $0.021-$0.024 Potential Targets: 300-400% Stop-Loss: $0.018 (Consider setting a stop-loss based on your risk tolerance strategy) Let's Discuss! What are your thoughts on JASMY's current price action? Do you see a bullish pattern? Share your analysis in the comments below!
Long
by CoreCrypto1
1
BNB: Potential Bull Pennant Breakout!Hey everyone! If you enjoy this content, please consider giving it a thumbs up and following for more analysis. BNB recently completed a formation resembling a bull pennant pattern on the daily timeframe. The price has broken out of this pattern and is currently retesting the breakout zone. If it holds this retest level, it could signal further bullish momentum for BNB. Buy some now and add more in the dip. Entry range:- $560-$600 Targets:- $712/$834/$986/$1194 SL:- Daily close below $530 Let's Discuss! What are your thoughts on BNB's current price action? Do you see a bullish pattern? Share your analysis in the comments below!
Long
by CoreCrypto1
Bitcoin can rebound up from support line to 71000 level Hello traders, I want share with you my opinion about Bitcoin. By observing the chart, we can see that the price traded near the resistance level, which coincided with the seller zone and resistance line, after which rebounded down to the support level. When BTC fell to the 60200 level, it turned around and rose to the resistance line, but after the price reached this line, it rebounded and declined lower than the support level, which coincided with the buyer zone. But then the price entered an upward pennant and made an impulse from the support line, breaking the support level again and the resistance line. After this movement, BTC corrected move to support line of pennant, after which continued to grow. In a short time, Bitcoin reached a resistance level and even entered the seller zone, where it reached the resistance line of a pennant. But a not long time ago BTC turned around and declined lower than the 71000 level, breaking it again, after which in a short time rose to the resistance line of the pennant. Also, the price rebounded and started to decline, so, in my opinion, Bitcoin can decline to the support line and then rebound up to the resistance level, thereby exiting from the pennant pattern. Therefore I set my target at the 71000 resistance level. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
6
Elevated Aussie Inflation Places the Spotlight on AUD/USD ResistOvernight, Aussie inflation accelerated for a second successive month, according to the Monthly Consumer Price Index Indicator, rising +3.6% in the twelve months to April and surpassing the +3.4% median market estimate and the +3.5% print reported in March. This will be unwelcome news at the Reserve Bank of Australia (RBA) and highlights that we will unlikely see a rate cut this year. The Australian Bureau of Statistics (ABS) noted that price increases were seen in housing (+4.9%), food and non-alcoholic beverages (3.8%) and alcohol and tobacco (+6.5%). RBA: ‘Not Ruling Anything Out’ The previous RBA meeting saw the nine-member Board hold the Cash Rate at a 12-year peak of 4.35%; this follows a total of 425bps of tightening from May 2022 until November 2023. The central bank's overarching message at this meeting is that they are still ‘not ruling anything out’. The decision to hold rates unchanged followed Q1 inflation surpassing market estimates as well as the RBA’s forecasts. Looking Ahead The RBA meets next on 18 June, and given the latest inflation data, a rate adjustment from the central bank is very doubtful. In fact, according to the OIS curve, the chance of a rate cut unfolding this year is unlikely, with investors now pricing in a possible rate hike in September (around a 30% probability is priced in as of writing). This consequently triggered a short-term spike in the AUD versus its US counterpart to a high of $0.6666 before swiftly reclaiming pre-announcement levels. Regarding where the AUD/USD stands, longer-term market action reveals buyers and sellers have been squaring off between two converging lines on the monthly chart, establishing what many technical analysts will view as a potential bearish pennant pattern drawn from $0.7158 and $0.6170. You will note that price is also challenging the upper boundary of the pennant formation, indicating possible resistance ahead. As a note, it is worth bearing in mind that although pennant patterns are considered continuation formations, they have been known to signal trend reversals upon failure of the pattern. Another technical observation worth taking on board, of course, is that the Relative Strength Index (RSI) on the monthly chart has been exploring terrain south of the 50.00 centreline since early 2022, demonstrating negative momentum.
Short
by FPMarkets
ADA Daily Chart Analysis - Long Target $0.62, Short Target $0.26NOT FINANCIAL ADVICE TL;DR Bear Pennant / symmetrical triangle, No Trade Zone, wait for breakout. Long target is $0.62, short target is $0.26 BITGET:ADAUSDT has been trading in a symmetrical triangle (potential Bear Pennant) since April 13th. For me it's a No Trade Zone now, a breakout is needed to determine the direction of the next trend Fairly respected fibonacci retracement levels highlight potential areas of interest Disclaimer: The targets will change if a breakout does not happen soon, as they need to be measured starting from the breakout point 🟢 Bull Case The target of a breakout from the resistance trendline 🟠 is $0.62, which is also where the breakout that led to the last leg down happened Watch $0.58 (0.718 fib) as it is a previous key area and a High Volume Node which could offer some resistance 🔴 Bear Case The Pennant target for a break below the support trendline 🔵 is $0.26, which is a previous key area and inverted 1.618 fib of the last leg down
by AliferCrypto
HelenP. I Bitcoin can exit from pennant, and continue to riseHi folks today I'm prepared for you Bitcoin analytics. A not long time ago price declined to the trend line and then at once made impulse up to the support level, which coincided with the support zone. Soon, the price broke this level and made a retest, after which continued to move up to the resistance level inside the upward pennant. When BTC reached the 70500 level, the price broke it and rose to the resistance line of the pennant, but at once turned around and in a short time declined to the trend line, which is the support line of the pennant too, breaking the resistance level one more time. Next, the price some time traded near this line and then rebounded up to the resistance line of the pennant, which at the moment continues to trades near. So, for this reason, I expect that Bitcoin will continue to grow to a resistance level, thereby exiting from the pennant. Also then, I think BTC can break the resistance level, make retest, and continue to grow. So, I set two goals: 1st at the 70500 resistance level and 2nd at the 72500 points. If you like my analytics you may support me with your like/comment ❤️
Long
by FirstNameHelen
1