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Pennant

BITCOIN - Price can break support level and fall to $58000Hi guys, this is my overview for BTCUSDT, feel free to check it and write your feedback in comments👊 A not long time ago price bounced from resistance level, which coincided with resistance area, and fell to $60300 level. After this, BTC started to rise inside wedge, where in a short time rose to resistance line from support line. But then price turned around and made downward impulse from resistance line to support line of wedge and even fell lower. BTC exited from this pattern and declined to $56550 points, breaking $60300 level, after which started to grow. Also, price rose inside pennant, in which BTC broke $60300 level again and later reached resistance line. Recently price fell to support line, but now I think Bitcoin can exit from pennant, break support level and fall to $58000 If this post is useful to you, you can support me with like/boost and advice in comments❤️
Short
by WalterMoon
4
USDCHF - Price can exit from pennant, and then start to growHi guys, this is my overview for USDCHF, feel free to check it and write your feedback in comments👊 Recently price entered to falling channel, where it first reached resistance level, which coincided with resistance area. Then CHF bounced down from this level and fell to almost support line of channel, after which made upward impulse. Swiss Franc exited from channel, broke $0.9155 level, and rose to $0.9220 points, but soon turned around and started to fall. Also, price formed pennant pattern, where it declined to support line and soon bounced up, breaking $0.9050 level. Later CHF reached resistance line of pennant, but recently CHF bounced down and declined to support line. So, I think Swiss Franc can exit from pennant pattern and then bounce up from support level to $0.9120 If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
1
PRCT (Procept BioRobotics Corporation) - Pennant FormationCompany Info: PROCEPT BioRobotics Corporation is a commercial-stage surgical robotics company. It focused on advancing patient care by developing transformative solutions in urology. The company develops, manufactures and sells the AquaBeam Robotic System, an advanced, image-guided, surgical robotic system for use in minimally-invasive urologic surgery with an initial focus on treating benign prostatic hyperplasia (BPH). Technical: Pennant formation after earnings thrust up. Earnings: Earnings came in good, not stellar. They recently released research on Aquablation therapy and it's benefits on treating BPH. Trade Info: I got into this trade today. Entry is at 63.80 and stop is sitting just below 60. I would resort to profit taking on the 5 EMA and 10 EMA.
NASDAQ:PRCTLong
by Kemsdale
RIPPLE - Price can exit from pennant and rise to $0.5330Hi guys, this is my overview for XRPUSDT, feel free to check it and write your feedback in comments👊 Recently price entered to falling channel, where it in a short time declined to support line, breaking $0.5075 level. But after this, XRP made upward impulse, breaking $0.5075 level, again, and exited from falling channel. Then price continued to grow inside rising channel until reached $0.5410 level, after which made correction move. XRP bounced up from support line of rising channel and broke $0.5410 level, after which soon exited from this channel. Next, price started to decline inside pennant, where it broke $0.5410 level again and declined to almost support line. Now, I think that Ripple can bounce up from support line to $0.5330, thereby exiting from pennant. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
4
Frontier (FRONT)On the above 2-day chart price action has corrected over 60% since the 200% move in September (idea attached). A number of reasons now exist to consider a long position. They include: 1) Price action and RSI resistance breakouts. 2) Price action backtest on past resistance confirms support. 3) Volume. Money Flow resistance breakout. I don’t know why, but more money is flowing in than out. 4) The pennant formation, a reliable chart pattern on confirmation. Price action forecast is determined from taking the flagpole extension to the breakpoint. Is it possible price action falls further? Sure. Is it probable? No Type: Trade Risk: <=6% Timeframe for long: Don’t know. Return: 200%
FLong
by without_worries
9
Gold - Pennant Breakout - All Time Highs IncomingGold has broken out 3 month pennant. In my opinion, it is ready to go test all time highs now (I am super bullish). The best part of this breakout is look at the volatility measure through GVZ. GVZ has tested the lows and is starting to have a bounce. Every time Gold has tried to go above 2100, GVZ has been very high but this time around it's the other way around. Ultimate target should be 2400, if we get a bullish close above 2100. There is a rectangle formation from 1670 to 2070 on the weekly with a false break below 1670. Other metrics would be Gold tend to gain before rate cuts and real rates are coming down after yesterday PCE. Stops at 2024. Goodluck!
FOREXCOM:XAUUSDLong
by Kemsdale
Buy AUD/USD Bullish PennantThe AUD/USD pair on the M30 timeframe presents a potential buying opportunity due to a recent breakout from a well-defined bullish pennant pattern. This breakout suggests a continuation of the prior uptrend and a higher likelihood of further gains in the coming hours. Key Points: Buy Entry: Consider entering a long position (buying) above the broken resistance level of the pennant, ideally around 0.6630 after confirmation of the breakout. This offers an entry point close to the perceived shift in momentum. Target Levels: Initial bullish targets lie at the following points, based on the pennant and recent price movement: 0.6694: This target is obtained by measuring the height of the flagpole (initial uptrend before the pennant) and adding that distance to the breakout price. 0.6734: This is a further extension of the upside target, based on roughly twice the height of the flagpole. Stop-Loss: To manage risk, place a stop-loss order below the broken resistance line of the pennant, ideally around 0.6600. This helps limit potential losses if the price unexpectedly reverses and breaks back downwards. Thank you.
Long
by KABHI_TA_TRADING
3
Sell ETHUSDT Bearish PennantThe ETH/USDT (Ethereum) pair on the M30 timeframe presents a potential shorting opportunity due to the presence of a bearish pennant patten. Potential Short Trade : Entry: Consider entering a short position (selling) below the broken support trendline of the pennant after confirmation. Ideally, this would be around 3020 or lower if the price continues to decline. Target Levels: 2764: This target is achieved by measuring the height of the flagpole (initial downtrend before the pennant) and projecting it downwards from the breakout point. 2692: This is a further extension of the downside target, based on roughly twice the height of the flagpole. Stop-Loss: Once the entry point is confirmed, place a stop-loss order above the broken support line of the pennant, ideally with some buffer around 3040. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards. Thank you.
Short
by KABHI_TA_TRADING
1
ABTUSD Breaking upward from a bull pennantIt looks like it is validating the break upward, full emasured move target can lead to 180% gains from current price range. Of course always possible it corrects all the way back don to the top trendline of the pennant before reaching the full target. If so that’s simply an opportunity to enter at a zone with even bigger gains potential. It could just as easily keep pumping until it reaches the full target as well. If longer consolidation it could take 1 as many as 1-3 weeks to reach the full target also…and then of course a possibility with the least probability as it somehow does a 180 and doesnt reach the full target as all since anything’s possible…but as I said, that scenario is the one with the lowest probability at the moment. *not financial advice*
COINBASE:ABTUSD
by DrDovetail
2
Gold can continue to grow to resistance line of pennantHello traders, I want share with you my opinion about Gold.Looking at the chart, we can see how the price some days ago entered to upward pennant, where it at once rebounded from the support line and made a strong upward impulse to the resistance line, thereby breaking 2285 and 2380 levels. After this movement, Gold turned around and in a short time declined lower than the 2380 resistance level, which coincided with the seller zone, thereby breaking it one more time. Later XAU declined to the 2285 support level, which coincided with the support area, and at once bounced up and tried to rise, but failed and declined back to the support level, which coincided with the support line of the pennant as well. After this movement, Gold a not long time ago rebounded and started to move up, therefore I think the price can decline to the support line again and then rebound up to the resistance line of the upward pennant. For this case, I set my target at 2365 points, which coincided with this line and resistance level also. Please share this idea with your friends and click Boost 🚀
FOREXCOM:XAUUSDLong
by LegionQ8
Gold can rebound up from support line and exit from pennantHello traders, I want share with you my opinion about Gold. By observing the chart, we can see that the price declined to the support level, which coincided with the buyer zone, and at once rebounded and made a strong upward impulse to the resistance level. Soon, Gold broke this level, which coincided with the seller zone and rose a little more, after which it turned around and in a short time declined lower the 2400 level, breaking it again. Next, the price started to rise inside the upward channel, where some time later XAU reached the resistance level and broke it one more time. But, after this, the price at once turned around and made a strong downward impulse to 2290 points, thereby breaking 2400 with 2320 levels and exiting from the channel. After this movement, Gold started to trades in a downward pennant, where it rebounded from the support line and rose to the buyer zone, where it some time traded and soon broke the support level, making a fake breakout. Then Gold reached the resistance line, but recently rebounded and started to decline. So, at the moment, I think Gold can fall to the support line and then rebound up, a higher resistance line, thereby exiting from the downward pennant and continuing to move up. For this case, I set my target at 2365 points. Please share this idea with your friends and click Boost 🚀
FOREXCOM:XAUUSDLong
by LegionQ8
TATA COMMUNICATIONS - A swing trade opportunity of 25%Trend - up in all higher time frames. Weekly RSI - Took support at 62 and moving up. Stock has given a bullish penant breakout after consolidating for 5 months - Sep - 2023 to Feb 2024 Retest of the breakout has happened. Now weekly and daily price actions shows the upward momentum. Entry - One may wait for daily previous supply levels - 2015 to be hit and take an entry as per reversal in lower time frame. Purely based on risk management - SL % 1827 - would act as a strong support. 7.5% from current levels.
NSE:TATACOMMLong
by Rugminik
Bitcoin can exit from pennant, turn around, and then start riseHello traders, I want share with you my opinion about Bitcoin. Looking at the chart, we can see how the price some days ago reached the 68800 level, which coincided with the seller zone and soon broke it, after which continued to move up. Later, the price rose to the resistance line and then at once made a downward impulse to the support line, which coincided with the support level and buyer zone, thereby breaking the 68800 level again. Then the price started to rise to the resistance level, and when BTC reached it, the price broke it one more time and rose to the resistance line, but then Bitcoin at once bounced down to the support line, breaking the resistance level. Next, the price rebounded from the support line and made an impulse up a higher resistance level with line, breaking them, after which BTC turned around and started to decline inside a downward pennant. Inside the pennant, the price broke the 68800 level, and soon the support line too, after which Bitcoin fell lower buyer zone to the support line of the pennant, breaking the 61500 level as well. But a not long time ago price turned around and made an impulse up to the resistance line, making a fake breakout of the 61500 level, after which BTC rebounded from this line and fell to the support line. Now, the price continues to trade near this line and I think Bitcoin can exit from the pennant and decline to the support level. After this movement, the price will turn around and start to grow, therefore I set my target at the 65800 level. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
1
SHIB - DUMP Incoming 📉📉Hi Traders, Investors and Speculators of Charts📈 Shiba was unable to breakout above the recently formed pennant pattern in the weekly timeframe. Usually pennants are bullish but if the pattern fails a huge downside can be expected, indicating weakness and dominant sellers. The next likely support is only at the moving averages, with both the 50d and 100d roughly at the same place (price tags on the right hand side). If the markets do not turn around in the immediate future, SHIB could drop as much as 40%, since it drops much harder than BTC and ETH during liquidity rotations. Considering that this is the weekly timeframe, it may take some time for the price to reach the moving averages trendlines. _______________________ 📢Follow us here on TradingView for daily updates📢 👍Hit like & Follow 👍 CryptoCheck BINANCE:SHIBUSDT
Short
by CryptoCheck-
1
Gold can make correction and then continue to move upHello traders, I want share with you my opinion about Gold. Observing the chart, we can see that the price some time ago rebounded from the support line, which coincided with the 2305 support level and buyer zone and started to rise to the 2380 resistance level. When the price reached the 2380 level, it soon broke it and rose to the resistance line, but then Gold turned around and made an impulse down almost to the support line, breaking the resistance level again. Later, the price in a short time rose to the seller zone, some time traded inside, and then made the correction below. After this, Gold rebounded up to 2415 points, thereby breaking the resistance level and line, but after this, XAU turned around and started to decline inside the downward pennant. Inside the pennant, the price broke the 2380 level one more time and fell to the support line of this pattern, which coincided with the buyer zone. Then price bounced from this line and in a short time rose higher than the 2305 level, making a fake breakout and even recently price exited from the pennant and now trades close to the resistance line. In my opinion, Gold can make corrections to this line and then rebound up. For this case, I set my target at the 2360 level. Please share this idea with your friends and click Boost 🚀
FOREXCOM:XAUUSDLong
by LegionQ8
2
GBPUSD - Price can leave pennant and rise to resistance levelHi guys, this is my overview for GBPUSD, feel free to check it and write your feedback in comments👊 Some days ago price broke $1.2615 level and entered to resistance area, where some time traded and later bounced up. After price rose to $1.2885 points, it started to decline inside the falling channel, which fell to $1.2615. Later GBP broke $1.2615 level, after which made upward movement to $1.2710 points, and then made a strong downward impulse. Price broke $1.2615 level one more time, exiting from channel and starting to trades inside pennant. In this pattern, GBP declined below $1.2425 support level, but recently backed up and now trades close resistance line. In my mind, British Pound can fall to support line and then bounce up to $1.2615 level, exiting from pennant. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
1
Bitcoin Bears Roar: Flagging Down to $52K? 🐻📉📉 Bitcoin Analysis: Rejection from Bear Flag Pattern on 4-Hour Chart 📊 Analysis: Bitcoin appears to be rejecting from a bear flag pattern on the 4-hour chart, indicating potential further downside. 💲 Current Price: Bitcoin is priced at $64,100, showing signs of downward pressure. 📉 Measured Move: The measured move of the bear flag pattern points to a target of $52,000, coinciding with a .382 Fibonacci retracement level. 🔍 Invalidation: Invalidation of the bearish scenario would occur if Bitcoin breaks decisively above the upper boundary of the bear flag pattern and establishes a new uptrend. 🛡️ Risk Management: Implementing risk management strategies such as stop-loss orders and position size management is crucial in volatile market conditions. 🔄 Stay Updated: Market conditions can change rapidly, so it's essential to stay updated on price movements and adjust strategies accordingly.
INDEX:BTCUSDShort
by Shibunacci
Ethereum can make small movement up and then bounce downHello traders, I want share with you my opinion about Ethereum. Looking at the chart, we can see how the price some time traded between the resistance level, which coincided with the seller zone, and after the price broke it again, ETH turned around and in a short time declined to 3230 points, breaking the resistance level one more time. Then the price a few moments later turned around and made a strong upward impulse, breaking the 3530 level again, but soon turned around and entered to downward pennant. In this pattern, ETH made a downward impulse to support line, breaking 3530 and 3115 levels. But soon, Ethereum made impulse up from the support line of the pennant to the support level, which coincided with the support area and even rose higher but later declined back to the support line. A not long time ago price bounced from the support line and in a short time rose to the resistance line of the pennant, breaking the 3115 level again. Soon, Ethereum exited from the pennant pattern and now it continues to rise. In my opinion, ETH can rise a little more and then decline to the 3115 support level, which is my target. Please share this idea with your friends and click Boost 🚀
Short
by LegionQ8