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Pennant

GOLD - Price can break support level and start to declineHi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊 A few days ago price trades between resistance level and support area, and then entered to pennant. In pennant, Gold broke resistance level and bounced higher of resistance area. Later price started to decline and fell to support level, but at once bounced to resistance area, thereby exiting from triangle. Then Gold entered to falling channel, where price broke $2000 level and exited this channel. Also, price fell below $1960 level, but later bounced up, and now Gold trades close. Possibly price can break support level, make retest or not and start to fall to $1940 level. If this post is useful to you, you can support me with like/boost and advice in comments❤️
OANDA:XAUUSDShort
by WalterMoon
21
Got more Doge?POLONIEX:DOGEUSD Dogecoin is showing this repeating pattern. I like to call it a Pump and Pump :-) Maybe it will ultimately become a Pump and Dump . So I am not going all in. However, a small holding of Doge has the potential of creating a large return. This is an asymmetric risk-to-reward play. I write off all the money I put in. So it is a small loss on my portfolio immediately, but if the trade plays out it will generate a significant gain on my overall portfolio. One fundamental consideration: Doge was meant as a meme coin. Its intended use is 'tipping'. Dogecoins are not defisable. So if Doge goes up by a lot, the tipping and maybe even payment functionality will become less useful or practical. All and all, this is a very speculative trade. Please be aware of that and act accordingly.
POLONIEX:DOGEUSDLong
by davetromp
Which Scenario ?Just by looking at it it makes sense for price to hunt all those untouched liquidity , right ? but what's gonna happen next ? as i indicated here there are 4 scenarios for me , but i think 4 is the most possible one , why u ask ? well , if u follow my ideas i am bearish on BTC and i have a whole bunch of reasons and all i see here and in the recent move was just a liquidity hunt . i predict prices bellow 25K for BTC cause i yet recognize exhaustion in price move , and it is not a good sign if u want to see a bull run ... so yeah , here it is , make ur own judgment .
CRYPTO:BTCUSDShort
by hamidking82
6
XNGUSD Bull Pennant Pattern Short then LongXNG has had a big week with a big bullish momentum move into a symmetrical triangle and then a breakout into a bull flag pattern to finish out the trading week. A Bollinger Band squeeze as the symmetrical triangle was underway preceded the breakout. PRice crossed the POC line of the volume profile where trading volume , liquidity and volatility all are the highest Equities and equity funds like BOIL, KOLD, UNG, UNL, LNG had corresponding moves. The Luxalgo ECHO indicator, a predictive AI tool, suggests that from here XNGUSD will retrace 5% or so perhaps targeting the mid/basis line of the Bollinger Bands and then resume its upward trend. the retracement would be 50% of the uptrend which started the morning of 5/18 which was a 10% move. The indicator is predicting the uptrend resumption for 5/22. By extension, equity instruments that mirror natural gas prices presumably will have similar moves. I conclude that my profits achieved in BOIL options after the big move should be prtially taken off the table to buy some KOLD calls or BOIL puts instead to hedge for the prediction of the algorithm tool.
FXOPEN:XNGUSDShort
by AwesomeAvani
RIPPLE - Price can bounce up and break resistance levelHi guys, this is my overview for XRPUSDT, feel free to check it and write your feedback in comments👊 A few days ago price traded inside triangle, where it first declined to support level and later bounced up to resistance line. Next, price exited from triangle, started to decline and entered to falling channel. After channel, Ripple broke $0.4430 level and fell below support level, which coincide with support area. Later, price tried to rise, but failed, fell to support level, and entered to pennant. In pennant, Ripple broke $0.4430 and at the moment trades close resistance level. In my mind, price can break this level, make retest or not and continue to grow to $0.4855 If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
8
Bitcoin Growth with Bullish 🚩Pennant🚩 Pattern🚀(Shor term)As I expected in the previous post, Bitcoin was not able to break the 🟢 heavy support zone($ 26,900-$ 26,400) 🟢, but as Bitcoin always does, it created a trap(🐻Bear Trap🐻). Bitcoin seems to be completing the Bullish Pennant pattern , but maybe the ⚠️ low trading volume ⚠️ on Saturday and Sunday will affect the correct formation of this pattern. If Bitcoin can break the upper line of the symmetrical triangle , we can consider confirmation of this pattern. 🔔I expect Bitcoin to grow at least up to the downtrend line after breaking the upper line of the symmetrical triangle, and the next step could be the 🔴 resistance zone($ 28,000-$ 27,660) 🔴. Bitcoin Analyze ( BTCUSDT ), 15-minute time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy, this is just my Idea, and I will be glad to see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Long
by pejman_zwin
32
MATIC Bearish pennant (flag)BINANCE:MATICUSDT Is currently in bearish pennant (flag). We have two scenarios. First (Short): If it break the black trend line. we might touch purple support zone. Second (Long): If it did not break the trend line we might touch orange resistance zone. 🟥Please Pay attention🟥 *Don't forget like and follow.💛 *Please do a research first and then open a position( Not just by my analysis )🧐 *If you liked this idea or if you have any other opinion about it, write in the comments.❤
M
by CryptoSphereTG_1
RIO TINTO (Waiting for Confirmation)Rio Tinto – Mining Market Cap: €1.35 bln Price: $61.74 6 Month Dividend: $2.24 (c.3.2%) – March 2023 Quote Dividends recently cut significantly from $4.79 in March 22 (c.5.7%) to $2.24 April 2023 (c.3.2%). Chart - Whilst the long term trend is up with higher lows on the large pennant since 1990, we have not made a higher high since May 2008 and this is a little concerning long term. - On Balance Volume continues increasing which is position and offers some reassurance. We do have our first lower high here on the short term and this could signify a change in price direction. - In terms of a trade, I’m inconclusive for now. I would like the RSI to come back down to the bottom of the purple RSI pennant at minimum (Short Term Buy potential) or become totally oversold on the RSI for a confident buy in. - Any tests of the bottom of the large pennant would be ideal but this may never happen again, time will tell so we focus on the RSI for now. - At present price is pincered between the 200 week SMA and key support. This is likely an inflection point. A good time to wait and see. - An upward sloping 200 week is positive but it is also acts as resistance and until we are above it again, it will remain resistance. Getting a hold above it could offer a buying opportunity. - I will update the chart when we have some confirmation of direction
NYSE:RIO
by PukaCharts
BITCOIN - Price can break support level and continue to fallHi guys, this is my overview for BTCUSDT, feel free to check it and write your feedback in comments👊 Recently price broke $27900 level and fell to support area, but soon it made strong upward impulse. Also, BTC entered to pennant, where price broke $28900 level and reached resistance line. Then price made correction and after bouncing up, exited from pennant, and started to decline. Price declined below $27900 level and entered to rising channel, but when BTC rose higher of $28900 level, it bounced down. And price continued to decline, thereby breaking $27900 level, and firstly fell to support area. Later Bitcoin fell lower of this area and next support level, but at once bounced up. Now price trades near support level and maybe BTC can break this level, and continue to fall to $26070 If this post is useful to you, you can support me with like/boost and advice in comments❤️
COINBASE:BTCUSDShort
by WalterMoon
25
PLATINUM BREAKOUTS X 3 Platinum Futures At present Precious Metals all seem to have the wind at their back on longer timeframes. - A H&S pattern with a potential breakout within a - Cup&handle with a potential breakout within a - A long term pennant with a potential breakout. RSI Indications - You can see how the green/red circles and resistance lines provided great entries and exits. - We are approaching the upped resistance line and I would expect some resistance here which aligns with the resistance of the Cup and Handle (which aligns with historic price resistance) - Use the RSI resistance lines to help manage risk. In summary I am long term bullish however if we breach the bottom of the long term pennant... we exit the trade. RR is great here if you set a stop under the pennant resistance, this being for a long term 36 - 60 motnh trade. There are also lots of short term opportunities in this chart from the three patterns identified. These you can see and manage within your own timelines using the chart lines as reference points for buy and sells. Thanks PUKA
NYMEX:PL1!Long
by PukaCharts
BNBUSDT - Price can break resistance level and continue to riseHi guys, this is my overview for BNBUSDT, feel free to check it and write your feedback in comments👊 After price bounced up from support area, it broke $315.5 level and entered to pennant. In pennant, BNB reached next level, exited from pennant, and bounced higher of this level to $350.5 Then price at once fell below this support level and declined to $315.5 level, which coincide with support line. Next Binance Coin started to grow close to support line and reached $335.5 level. And later price fell below and a not long time ago tried to rise to this level again. But BNB failed and fell, as well recently it entered to flat and after flat continues to decline. Now price trades below $335.5 level, and I think Binance Coin can break this level, make retest and bounce up to $324.5 If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
11
BNBUSDT - Price can exit from pennant and fall to $316.5 levelHi guys, this is my overview for BNBUSDT, feel free to check it and write your feedback in comments👊 After price broke $327.5 level, it continues to rise close support line and soon broke $339.5 level. Reaching $350.0 point, Binance Coin started to decline and fell lower to $339.5 and $327.5 levels. Also, price broke support line and declined to $315.0 point, which at once bounced up. BNB broke $327.5 level again and later entered to flat, after which price bounced up to $339.5 resistance level. And recently price fell to support line, but at once backed up to resistance line, and as well entered to pennant. At the moment price continues trade in pennant close resistance line. As well BNB can bounce down of this line, leave pennant and fall to $316.5 level. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Short
by WalterMoon
5
ID's Next target is 0.95$!Hi every one ID has done a Impressive Movement recently but the odds of another bullish Movement is Pretty high because the pattern which ID is in, Is a Bullish Pennant Pattern! Since The break out has not happened, there is no confirmation of a Bullish Movement But If It happens, we Can Expect a Bullish Movement as much as the Measured Price movement (Pennant pole) to happen! The Next target is around 0.95$! 🟡Summery: -ID has been Bullish Recently! -The odds of another Bullish Movement is High! -Bullish Pennant is Visible on The chart! -No break out yet! -Next Target at 0.95$ 🤑Stay awesome my friend Thank you for seeing idea . Have a nice day and Good luck
Long
by CobraVanguard
6