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Pennant

Euro can rebound up from support line of channel to 1.0985Hello traders, I want share with you my opinion about Euro. Looking at the chart, we can see how the price rebounded from the support line of the pennant and made a strong upward impulse to the resistance level, which coincided with the seller zone, thereby breaking the 1.0930 level. After this, the price made little correction and then continued to move up to the resistance line of the pennant, breaking the 1.1040 level too. But when the Euro reached this line, it turned around and made a strong downward impulse lower than 1.1040 and 1.0930 levels. Also, the price exited from the pennant and later started to rise in an upward channel, where in a short time rose higher than the 1.0930 support level, which coincided with the buyer zone, breaking it one more time. Some time later, EUR rose to the resistance line of the channel and not long time ago rebounded down from it. At the moment, the Euro trades near the support line and I think that the price can fall to this line and then rebound up to the resistance line. For this case, I set my target at the 1.0985 level. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
3
GOLD - Price can exit from pennant and rise to resistance levelHi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊 Some days ago price bounced from support level, which coincided with support area, and declined to support line of pennant. After this, XAU bounced from this line and made strong upward impulse to resistance level, which coincided with resistance area. Price broke $1990 level, and soon Gold declined below this level again, but soon rose back, making fake breakout. Then XAU rose to resistance line of pennant, after which price at once bounced and declined to support line. Recently price bounced from this line and now Gold trades very near from resistance line of pennant. Possibly, price can make little correction, after which it bounce up to $2085 level, exiting from pennant pattern. If this post is useful to you, you can support me with like/boost and advice in comments❤️
OANDA:XAUUSDLong
by WalterMoon
1
Is the DXY in a long term downtrend? DXY Downtrend The 6 month candle chart suggests we could be in for at least two red quarters which would suggesting positive markets..... which seems contradictory to the current sentiment BUT not the current charts (S&P, NASDAQ,etc). The weekly chart currently shows the critical resistance at $1.00 and we appear to be heading straight for it. I genuinely think that given the 10 month SMA turning to the downside will act as resistance and the three tests of the underside support may puncture the resistance and lead to further downside., As always there are no guarantee's but the DXY chart in my opinion currently looks bearish long term. I am currently looking at a time based analyses at the which will follow Time will tell PUKA OUT
TVC:DXYShort
by PukaCharts
ETHEREUM - Price can leave pennant and then fall to support areaHi guys, this is my overview for ETHUSDT, feel free to check it and write your feedback in comments👊 Recently price entered to flat, where it rose to top part, which coincided with $2430 level, and then bounced down. Price declined to support area, which coincided with $2170 support level, and some time traded near this zone. After this, ETH made upward impulse to $2430 level and broke it, thereby exiting from flat. Also, price started to trades in pennant, where it reached resistance line and then in a short time fell to one more support zone. Then ETH rose to resistance line, but recently it declined to support line, where at the moment price continues to trades near. Ethereum can break resistance line, thereby exiting from pennant, and then start to fall to $2430 If this post is useful to you, you can support me with like/boost and advice in comments❤️
Short
by WalterMoon
1
Bulls for Wipro?!Like anything in the market timing is everything. Being a sniper with execution is essential and knowing when to enter a trade is important. Here are my thoughts on this trade idea... Fundamnetals: Highest Daily gainer on Friday with trading volume around 15.245M and usually its at 1.779M That's a lot of momentum and the next quarter point is the next logical resistance it will meet which is $745.00 Chart Pattern: Bullish Pennant pattern Indicator: Hidden Bullish Divergence
NSE:WIPROLong
by OnenessTrader
Euro can make downward impulse to 1.0875 level from pennantHello traders, I want share with you my opinion about Euro. Looking at the chart, we can see how the price rebounded from the support level, which coincided with the buyer zone, and in a short time rose to the resistance level. Then the price started to decline in a downward channel, where the EUR declined to 1.0725 points, thereby breaking the 1.0875 level. After this, the price rebounded from the support line and in a short time rose back to the 1.0875 level, exiting from the channel. Later price broke the support level and continued to move up to the 1.1010 resistance level, which coincided with the seller zone. But firstly, the Euro rebounded and corrected, after which it made a strong upward impulse to the resistance line, thereby forming an upward pennant pattern and breaking the resistance level. Then price bounced from this line and soon declined to the support line, breaking the 1.1010 level one more time. And now, the price continues to trades very close to this line, and possibly Euro can bounce from the support line to the resistance line and then make an impulse down to the support level, thereby exiting from the pennant pattern. So, that's why I set my target at the 1.0875 level. Please share this idea with your friends and click Boost 🚀
Short
by LegionQ8
5
AUDUSD Possible Pennant BreakHi Traders! There is a potential bearish pennant break on the AUDUSD. Here are the details: Price is currently on the 20 EMA, and with market swings with lower highs and lower lows, the price action suggests that this is a bearish setup. We are looking for the market to target the trendline support with a possibility of a break below to target levels near the monthly low at 0.66406. Preferred Direction: Sell Technical Indicators: 20 EMA Resistance: 0.62748 Support: 0.66406 Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
Short
by BluetonaFX
XRP Long Term Bullish OutlookCRYPTO:XRPUSD long term is very bullish. I measured that we will hit the target profit $27 around early to mid 2025 based on the previous 1 year pole. You can see the formation of rally-consolidation-rally with a bullish pennant consolidation. RSI is looking good too, i'm certain it will close with a crossing but you can wait until december closing to make sure. Also outside of technical analysis, xrp or ripple is very good fundamentally and narratively. The narrative of CBDC will be major if the world government implement this globally, i think it will be implemented in 2024 or 2025. It's best to buy XRP now.
CRYPTO:XRPUSDLong
by UnknownUnicorn25768508
20
ETHEREUM - Price can exit of triangle pattern and then bounce upHi guys, this is my overview for ETHUSDT, feel free to check it and write your feedback in comments👊 Some time ago price made upward impulse from support line of pennant to resistance line, breaking $2200 and $2365 levels. After this ETH at once bounced from resistance line and declined to support line, breaking one more time $2365 level. Later, price made impulse from this line higher than $2365 level, where soon it entered to triangle and then fell below. Ethereum declined even below support level, which coincided with support area, but recently it bounced from support line back. Now, ETH continues to trades in triangle near support line and I think price can exit from this pattern. Then Ethereum can decline a little more and later bounce up to $2310 level. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
4
EURO - Price can bounce down from resistance line to $1.0800Hi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊 Recently price traded near support level, which coincided with support area, but soon it declined below to support line of pennant. After this, EUR in a short time rose back, thereby making fake breakout of $1.0775 level and later it made upward impulse. Price reached resistance level, which coincided with resistance area, and at once made correction, after which continued to grow. Euro in a short time rose to resistance line of pennant, but later it bounced and made downward impulse to support line. Also, price broke $1.1000 level, and now EUR trades very near to resistance line of pennant. I think, Euro can rise ot resistance line and then bounce down to $1.0800, 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
Solana bullish continuation pattern similar to BTC 2019.There's been a lot of hype on the Bitcoin ETF. I do think the FED is going to lower rates pretty soon (first quarter of 2024). IMO, a lot of the hype has already been priced into the ETF (IF it happens), however, the thing that's going to move markets to the downside temporarily -- is something negative. The reason the FED is going to lower rates, is because the economy is in freefall. I'm expecting higher unemployment. Traders need to know a very important fact, it's not the collapse, it's the response from the FED. I don't see a way out of what pattern they are currently in, this is no exception. Short term, Solana comes down to retest that 50ema somewhere? However! Don't fret, the FED will lower rates, print MASSIVE amounts of money and return to QE for Solana to explode higher from slightly lower levels here. IMO, if you are already long, hold. If you haven't bought yet, there is going to be an opportunity soon. Recall the 2017 BTC top, to the 2019 top, and pattern that developed there. Screenshots below. Solana could be in the exact same position now. A lot of the easy money in Solana, could have been made, but a 5x from the $100 level could also be made (I'm targeting, doesn't mean it will happen, a $400 - $500 SOL price top). So there is probably a pull back coming Q1 2024. If the $54 mark gets retested, could be looking at almost a 10x from there.
CRYPTO:SOLUSDLong
by otisfx
$AQB AquaBounty Technologies IncNASDAQ:AQB AquaBounty Technologies Inc entry PT 2.20-ish Target PTs 6 --> 8.20 --> 12.70 - 23 and higher AquaBounty Technologies, Inc., a biotechnology company, focuses on enhancing productivity in the commercial aquaculture industry in the United States and Canada. It engages in genetic, genomic, and fish health and nutrition research activities. The company also operates salmon farms using proprietary technology. It offers AquAdvantage Salmon, a bioengineered Atlantic salmon for human consumption; and sells conventional Atlantic salmon, salmon eggs, fry, and byproducts. The company was formerly known as Aqua Bounty Farms, Inc. and changed its name to AquaBounty Technologies, Inc. in June 2004. AquaBounty Technologies, Inc. was incorporated in 1991 and is headquartered in Maynard, Massachusetts.
NASDAQ:AQBLong
by BADQOMOCAWGOWLD
⤴️⤴️GPBUSD) bullish on the market) analysis)🖼️🚀The dollar crept higher on the first trading day of the year as attention turned to economic data this week that may provide clues on the Federal Reserve's next moves, while bitcoin surged ahead of $45,000 for the first time since April 2022. The dollar index DXY , which measures the U.S. currency against six rivals, fell 2% in 2023, snapping two years of gains. It was last at 101.44, up 0.059%, as investors weighed the prospect of the Fed cutting rates this year. The dollar's ascent weighed on the Japanese yen USDJPY the most, with the Asian currency down 0.35% at 141.36 per dollar, having slid 7% in 2023. Rescue teams in Japan on Tuesday struggled to reach isolated areas hit by a powerful earthquake on New Year's Day, with reports of more than 20 people dead in a disaster that toppled buildings and knocked out power to thousands of homes. Markets are now pricing in an 86% chance of interest rate cuts from the Fed to start from March, according to CME FedWatch tool, with over 150 basis points (bps) of easing anticipated in the year. "The question is when and how fast rate cuts will be delivered," Marc Chandler, chief market strategist at Bannockburn Global Forex, said in a note. "Moderating price pressures and weaker growth impulses have seen the pendulum of market sentiment swing dramatically from the 'higher for longer' mantra of most of last year to pricing in aggressive easing" from central banks, Chandler said. The focus now switches to a slew of economic data due this week, including the data on job openings and nonfarm payrolls. Minutes from the last Fed meeting in December are scheduled for release on Thursday and will provide insight into the central bankers' thinking around rate cuts this year. "The positive sentiment from end-2023 may roll over into this week as all eyes turn to the U.S. jobs report on Friday," said Nicholas Chia, macro strategist at Standard Chartered. At its December policy meeting, the Fed adopted an unexpectedly dovish tone and forecast 75 basis points in rate reductions for 2024. That contrasted with other major central banks, including the European Central Bank (ECB) and Bank of England (BoE), which reiterated they will hold rates higher for longer. Still, traders are pricing in 158 bps of cuts by the ECB this year, while the BoE is also expected to cut rates by 144 bps in 2024. The euro EURUSD was down 0.13% to $1.103, inching away from the five-month peak of $1.11395 it touched last week. The single currency gained 3% last year, its first yearly gain since 2020. Sterling GBPUSD was last at $1.2729, up 0.05% on the day, having clocked its strongest performance last year since 2017 with a 5% gain, although a weakening economy and election uncertainty make a repeat performance unlikely. Elsewhere, the Australian dollar AUDUSD was up 0.35% at $0.68335. The New Zealand dollar NZDUSD was little changed at $0.63155. The crypto world started the year with a bang, with bitcoin BTCUSD touching a 21-month peak of $45,532 on rising expectations that the U.S. Securities and Exchange Commission would soon approve exchange-traded spot bitcoin funds.
Long
by SMC-Trading-Point