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Pennant

BITCOIN - After breaking support line, price can continue fallHi guys, this is my overview for BTCUSDT, feel free to check it and write your feedback in comments👊 Recently price started to trades inside wedge, in which it bounced from support line to resistance line, breaking $26000 level. After this price started to decline to this level and when BTC reached it, price bounced and made impulse up to next level. Also, Bitcoin exited from wedge and later broke $27200 resistance level, and reached resistance line of pennant. Soon, price bounced down and made strong downward impulse to support line, and a not long time ago even broke this line. Now I think that Bitcoin can make a small movement up to resistance level and then continue to decline to $25300 level. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Short
by WalterMoon
16
EURO - Price can exit from pennant and fall to $1.0735Hi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊 When price reached resistance line, it started to decline to $1.0850 level, which coincided with resistance area. After this Euro made strong upward impulse to $1.1275 points, thereby breaking resistance line and $1.1135 resistance level. Soon price bounced below $1.1135 level and then tried to back up, but it failed and started to fall near resistance line of pennant. Euro fell below $1.0850 level to support line of pennant, and recently bounced up and now trades in resistance area near this level. I think that price can make a small movement up and then bounce down to $1.0735, thereby exiting from pennant. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Short
by WalterMoon
16
After exiting from pennant, Binance Coin can continue to growHello traders, I want share with you my opinion about Binance Coin. Observing the chart, we can see that the price a few days ago traded inside a big range, in which it some time declined to the 238 resistance level, which coincided with the resistance area, but at once rebounded to the top part of the range. After this BNB bounced and started to decline to the resistance level again, but this time price broke the 238 level and made a strong downward impulse below the 215 support level, thereby exiting from the range too. Then Binance Coin rolled up and tried to rise, but failed and declined lower to support line of pennant. Later, the price rebounded from the support line and rose to the resistance line, thereby breaking the support level, which coincide with the buyer zone. As well recently BNB exited from pennant and now trades near. Probably Binance Coin can decline to the support level, and then it can rebound from this level and continue to move up. For this reason, I set up my target at the 225 level. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
8
GNS Consolidated and Resting from Big Move LONGOn the 30-minute chart, I see GNS as a Bullish Pennant on a high flag pole in the big move yesterday with consolidation now. It is high in the VWAP bands and so at risk for a reversal to the mean. Pennants more often than not continue upside. To hedge, I have set two lines. If the price goes over the green line a buy stop long will trigger into a market price. If the price drops below the pennant height, a sell stop will trigger the short trade. One trade is on the other will not execute. Ask if you want my suggestion as to stop losses and targets. (EDIT - On the chart it is a flagpole not a flap pole !)
AMEX:GNSLong
by AwesomeAvani
Dr Copper ~ Snapshot TA / Contraction x Expansion = InflectionIt ain't easy being DR CAPITALCOM:COPPER Peaked in March 2022, only to crash -38% & bottomed-out in July 2022. Since then it has fluctuated between Contraction (will Global Economy collapse?) versus Expansion (will Global Economy recover?), while also contending with outlook of China's Economy, yeesh lol. Copper's price action has also been compressing, as descending trend-line squeezes current Trading Range against ascending Parallel Channel. This suggests momentum will eventually need to "pop" in either direction...but it could also continue trading sideways a little longer while more data is disseminated by Market Makers to make a confident decision, TBC. Tick tock, time is running out for the Doctor.. Boost/Follow appreciated, cheers :) AMEX:COPX AMEX:CPER COMEX:HG1! COMEX:HG2!
CAPITALCOM:COPPER
by BlueHatInvestor
Bitcoin can break resistance line of pennant and continue growHello traders, I want share with you my opinion about Bitcoin. Observing the chart, we can see that the price rebounded from the support line and started to rise to the resistance line, thereby breaking the 30000 resistance level, which coincides with the seller zone. After the price reached this line it bounced down and in a short time fell back to the support line, breaking the 30000 level again. Next BTC some time traded below and even later tried to rise back, but the price only reached the resistance level and then made a strong downward impulse until below the 25800 support level, thereby breaking resistance and support lines. Also, BTC entered to the pennant, where it soon bounced from the support line and rose higher of the 25800 support level. And now the price continues to trade inside the pennant close to the resistance line. Probably Bitcoin can break the resistance line, thereby exiting from pennatn, and then continue to rise. For this reason, I set up two targets, the first target at the 27500 and the second - at 28500 levels. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
17
Silver ~ Snapshot TA / Bullish ConsolidationTVC:SILVER rallying to the upside & revealing its Bullish inclinations ahead of key Global Economic events. Fibonacci Extension doing a great job identifying key Demand/Supply zones to watch for smaller-timeframe trend rejection/continuations. Dashed horizontal lines (~25.26/~22.21) highlight key Make or Break levels for longer duration Swing Trades. Golden Pocket/Gap Fill confluence presents interesting Stink Bid opportunity if Silver price action turns to disaster. Boost/Follow appreciated, cheers :) OANDA:XAGUSD COMEX:SI1! COMEX:SI2!
TVC:SILVERLong
by BlueHatInvestor
Hawaiian Electric ShortI doubled down on my short position on Hawaiian Electric ( NYSE:HE ), increasing it from 100 shares to 200, while also acquiring 9 puts with a strike price of $22.5 expiring in September. Additionally, I purchased 5 puts at a strike price of $12.5 expiring in December. The market rebound on Friday appeared to be a mere dead cat bounce, as indicated by technical analysis revealing the presence of bearish pennants. Consequently, my target price remains resolute at $6 per share.
NYSE:HEShort
by AllHart
1
XRP + XLM Local trend. Wedge + triangle (pennants).Logarithm. Time frame 1 day. Local trend. Two cryptocurrencies are shown at the same time, as it should be understood that it is one and the same. Pumps (exit from accumulation) similarly began almost simultaneously July 13 on day 273 (code). XRP a little earlier by a few hours. I think it will be something similar this time. Pullbacks after pumping up about +100% on both assets (exiting the long term accumulation zone). The reversal zones as well as the percentages to local significant resistance levels in case of breakout are shown on the chart. This is how it looks on the linear without squeezes (market noise), although it is not necessary for local work. The ideas of secondary trends (accumulation) to understand this local zone attached to this idea.
COINBASE:XLMUSDLong
by SpartaBTC
28
Ripple can bounce down from buyer zone to 0.6000Hello traders, I want share with you my opinion about Ripple. Looking at the chart, we can see how the price a few moments ago bounced down from the support line of the downward channel and fell firstly to the 0.6850 resistance level, which coincides with the seller zone. Then price continue to decline, broke this level, and made a strong impulse down to 0.6285 current resistance level, thereby exiting from the downward channel. After this Ripple declined below the 0.6285 level to the buyer zone, and at once it tried to rise, but failed and declined to support line of pennant. Then the price rebounded and rose to the resistance level, but a not long time ago Ripple declined to the current resistance level and some time traded near this level. Also recently, the price exited from pennant and now it trades in the buyer zone near the 0.6285 resistance level. Probably Ripple can decline lower buyer zone, therefore I set up my target at the 0.6000 level. Please share this idea with your friends and click Boost 🚀
Short
by LegionQ8
6