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Pennantbreakout

AAPL Bull Pennant. Breakout or Bull Trap?Bull Thesis - 1) The first thing I noted was the large up-trending channel 2) Currently a Bullish Pennant has formed inside the channel - My main theory is a breakout of the wedge to the upside. - I used a bottom fitted curve from the bull pennant "post/mast/flagpole" to give a general trend after the breakout. This is how I arrived at my price target noted on the chart. $155 around Sep 11th, 21' Bear Thesis - 3) Volume on the upward price spikes has been dropping steadily ytd. 4) The bullish pennant has formed at the top range of the channel, and may be ready for a pull back. 5) If breakout of the wedge to the downside occurs, I used a similar curve from the flagpole to give my estimate on the chart when it nears the bottom of the channel. $134 around Sep 7th, 21'
NASDAQ:AAPLLong
by DmMeUrWaffles
5
AXSUSDT is creating a daily pennant 🦐AXSUSDT is creating a daily pennant after the price bounced on the 0.382 Fibonacci level. IF the price is going to have a breakout, According to Plancton's strategy (check our Academy ), we can set a nice order ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure.
Long
by InkyGrip
40
$AMC Daily Pennant Conclusion and MACD ConvergenceWill we break-out or break-down? Hoping for the break-out to the 90's. Lux Algo still holding strong on that Buy signal since January 25th @ $3.60 and MACD is converging next week. Earnings shouldn't be great, but nobody is selling anyway. Bears have exhausted their sell off ladder attack from 2 weeks ago. Double Bottom last week played out fully without a hitch. MACD is converging next week. Maybe a fake-out break-down at earnings to the low $30's again? With so much support on @ the $30's I think it would take institutions selling heavily to force the stock down and try to recapture some paper hands. NYSE:AMC
NYSE:AMCLong
by Fisbin
2
The current ETH situation | ETHUSD | BULLISH OR BEARISH?ETH has been on quite a run lately based on fundamentals moving from $1700 up to the price of $2400 in the past 10 days, however the price has been consolidating within the current price for the past few days. This is never bad as the price needs some time to create more support and to rest so it is not seen as overextended leading to a sudden drop off top. In the following paragraphs I shall be discussing my honest opinion on the current ETH market, however, everything I state in this article is based on my own opinion and should not be taken as a signal to buy or sell your ETH. in order to understand what is going on in the chart analysis above ill start with the pennant formation marked in yellow. As you can see this formation broke to the downside, which theoretically is how these formations play out, as they are continuation patterns and the origin (flagpole) is from a bearish movement. The price bottomed out after the breakout at the $1700 level. Another formation was created there after which is also a continuation pattern. The megaphone formation: The name derives from the fact that it looks like a megaphone which is fairly obvious. These formations generally are a strong confluence among other confluences that the price is going to move a certain direction. As the formation is a continuation pattern the pattern theoretically breaks out according to that, which it did. The target point (TP) of this formation will put ETH at around $2500, which is very convenient and almost to obvious, as the long term 50% fib retracement level sits within a few dollars from the TP adding further confluence to my prediction. Therefore it could be strongly argued until proven by price that we are within a consolidation phase, just as most of the market is. The range in which we are consolidating seems to be between the $1700 level and the 50% fib retracement ($2523), However the Golden pocket will also play a key role and keeping the price back before it reaches these levels of support and resistance. The MacD is almost slowly beginning to turn to the bearish momentum which will line up perfectly with the TP being reached and the retracement to the Golden pocket being a reasonably valid prediction, if the price plays out the way the technicals indicate. Therefore for the short term at least I remain neutral on the price of ETH. This area of consolidation can be seen as a great buy in area for those who are in for the long term, but for those who are trying to make a quick trade, I advise you wait for a move out of the range of consolidation before you place a short term trade, as the market is very tricky lately. Don't forget to leave a like if you agree or disagree with this article and if so leave a comment explaining why you disagree, am always open to different perspectives. Happy trading and thank you! #notfinancialadvice
BINANCE:ETHUSD.P
by Crisp_Flow
BTCUSDT is creating an important triangle 🦐BTCUSDT is creating an important triangle between the weekly structures. The structure is like a bearish pennant, but IF the price will have a breakout from weekly resistance, we can see a retest on 44k, otherwise, if the price will lose the weekly support, we can see a retest on the next weekly support, around 20k. The best way is to wait for the next move. Bearish pennant Bearish pennants are continuation patterns that mark a pause in the movement of a price halfway through a strong downtrend, offering you an opportunity to go short. They occur just after a sharp drop in price and resemble a triangular flag as the price moves sideways, making gradually lower highs and higher lows. The downtrend then continues with another similar-sized fall in price. ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis, please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.ording to Plancton's strategy (check our Academy), we can set a nice order ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis, please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
by InkyGrip
6