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Bearish Pennant

GBP/AUD Sell 1.9K pips Chart 2/3Sell Limit: 1.76025-1.76500 Stop Loss: 1.76700-1.77000 Take Profits: 1.75300-1.74600 Risk/Reward: 2.8/1 AVG Hold: 2 days Expectancy: 1-3 days ........................................ Hedge Order: * Protects 33% of Trade Buy Limit/Stop: 1.76025-1.76500 * Hedge Entry MUST be equal to Sell Entry. Stop Loss: 0%-25% of gap between Open Entry and Open Take Profit Levels Take Profit: 1.76700-1.77000 * Hedge Take Profit MUST be equal to Initial Position Stop Loss ............................................ Trade P/L: Profits: 1.9K pips Losses: 0 - .975K pips * Careful Trading. Here's 1hr Sell Entry for GBP/AUD. Leave comments and/or question and feedback and follow for updates on new trading opportunities.
Short
by charrison4300
ETH: BEARISH PENNANT IN LTF! Hello everyone, if you like the idea, do not forget to support with a like and follow. Welcome to this ETH update. ETH is not looking good here. Forming a bearish pennant pattern in 1h time frame where breakdown of pennant is still pending. Once it breaks down from this pennant we can expect a dump. Invalidation level:- If any hourly candle close above the pennant will invalidate this chart. If you like this idea then do support it with like and follow. Also, share your views in the comment section. Thank You!
Short
by CoreCrypto1
8
Is Bitcoin creating a Bearish Pennant?Hello traders of tradingview! I would like to thank each and everyone of you for supporting my last chart i posted. Please if you haven't yet already go check that chart out i have it linked at the bottom it is titled Psychology of a market cycle. Please also make sure to LIKE and FOLLOW for more VALUABLE content! What i expect is a slow gradual decline in Bitcoin's price ultimately finding support around $19,500 where i would expect Bitcoin to bounce from that level back up to recent local high around $21,800's. I would be looking to short $21,800 back down to about $20,000. At that point Bitcoin will have started to form a visible bearish pennant . I would expect yet again another retest of trendline resistance at or around $21,000 creating a defined bearish pennant . How to short the breakdown? 2 different ways i would short this trade setup. 1. For the best risk to reward ratio you could enter a short position at the top of the trendline resistance when Bitcoin is nearing the apex of the bearish pennant . Place a stoploss at or around $22,000 using low conservative leverage and patiently wait for the breakdown. 2. The other way to short this is by shorting the breakdown. Which means you would wait till Bitcoin approaches its trendline support on its 4th test of trendline support it will likely breakdown as long as the apex of the bearish pennant is no more than a few days away. Enter your short using low leverage and place stoploss above trendline resistance. BEARISH PENNANTS Bearish Pennants are simply the opposite of the Bullish Pennant . Bearish Pennants are continuation patterns that occur in strong downtrends. They always start with a flagpole – a steep drop in price, followed by a pause in the downward movement. This pause forms a triangular shape, known as the Pennant . There is then a breakout, and the downward movement continues. Traders look to enter short trades on a break below the pennant . KNOWING THE DIFFERENCE BETWEEN PENNANT PATTERNS AND TRIANGLE PATTERNS Pennant patterns are very similar to triangle patterns, but there are some important differences between a crypto Pennant and a crypto triangle that should be acknowledged in order to trade either pattern successfully. These are the key differences to note: A Pennant pattern has to be preceded by a strong up or down move that resembles a flagpole. If there isn’t a flagpole, then it's a triangle and not a Pennant . A Pennant tends to form a shallow retracement (typically less than 38% of the flagpole). A deep retracement is indicative of a triangle rather than a Pennant . A Pennant is characterized by the continuation of the upward or downward trend. A Pennant is a short-term pattern that is usually completed within one to three weeks. A triangle pattern usually takes much longer to form.
BITSTAMP:BTCUSD
by SolStackz
Bullish Engulfing Candle at the 300WMA or another Bear Pennant? Price held with a small but steady bounce right at the 300W MA---a support many Market Markers have been eyeing since the 200W MA was broken in BTCUSD. ETH showed an even stronger interaction with the 300W MA support. As well, we see a Bullish Engulfing Candle at the bounce, which has also appeared in BTCUSD, signalling a reversal. This is a promising signal for Bulls, however, will the volume hold up? We already see volume declining, indicating this may be a false signal printed by the daily candles. We can see a possible continuation of the Bear Pennant playing out between the 0.765 and 0.618 Fibonacci Bollinger Bands. The strongest fib levels tend to be 0.618, 0.5, and 0.382. With the 0.618 becoming resistance (previously playing support (follow the green arrows on chart)), and above that the 0.5 band (which played resistance in the previous pennant (follow the yellow arrows on chart)), as well as the 50 Day MA (which has played resistance too (follow the yellow line on chart)), we’ll need significant volume to confirm a reversal. Bear pennants indicate price will continue in trend, so when price breaks above the upper trend line of the pennant/flag formation this typically signals a break in the pattern. A trader may place a stop order at a price in the break-out zone, however, I warn against being caught out in a head fake here for the three reasons mentioned above: 1. Low Volume does not signal a proper reversal at the break, 2. Price is currently trading between the 0.764 and 0.618 levels, with 0.618 being a common level for price to interact with, 3. The 50D MA has rejected the price twice, and trend lines are typically checked at least three times before diminishing their influence. We don’t know if the 50D MA just happens to coincide with the previous two price rejections, but its correlation should not be considered lightly coming into its third check, especially if volume doesn’t peak around that time. IN SUMMARY: I would not advise trying to catch a break above the pennant as you might be caught out by a head fake. The 300W MA did not show a confident rejection, which stands to reason it will be tested again.
COINBASE:ETHUSD
by MiserableToppings
4
BTC: BEARISH PATTERN! IF LOOSE THE SUPPORT TARGET WILL BE $21K!!Hello everyone, if you like the idea, do not forget to support with a like and follow. Welcome to this BTC update. BTC is not looking good. It is hovering near the support for the past few days and every upside move is rejected by bears. Looks like bears are in full control. In the 8hr time frame, BTC formed a bearish pennant-like pattern. It's already broken down from the pennant. But the last hope for bulls is the green support box. BTC is still holding this green support zone ($28k-$30k) for the last few days. If we get a close below $28k will confirm the downtrend and then we see a 30% move to the downside which will lead the price to the $21k-$22k level. Let's see this BTC can hold this support or break. What do you think about this? Do you think BTC is bouncing from here or do you think that we see a $21k-$22k level in a few days? Share your views in the comment section. If you like this idea then do support it with like and follow. Thank You!
Short
by CoreCrypto1
8
SOL/USDT : Formed a bearish pennant ! KUCOIN:SOLUSDT Hello everyone 😃 Before we start to discuss, I'll be so glad if you share your opinion on this post's comment section and hit the like button if you enjoyed it ! $SOL has formed a bearish pennant at current level, So the majority is with bears. But as always; We have to be ready for both phase of market ! That's why I mentioned two trading setups on the chart. - If we get the rejection below the pennant, Then I'll located my Short on a proper retest of marked blue zone and aim for $84 . Trading Setup have been mentioned on chart ! - If we get the break-out above the pennant, Then I'll wait for another confirmation of break-out above the local S/R zone a $106; I'll locate my Long on a proper retest of broken S/R zone and aim for $19.5 . Trading Setup have been mentioned on chart ! Hope you enjoyed the content I created, You can support us with your likes and comments ! Attention: this isn't financial advice we are just trying to help people on their own vision. Have a good day! @Helical_Trades
by Helical_Trades
16
BTC: BREAKSDOWN! LOOKS BEARISH!!Hello everyone, if you like the idea, do not forget to support with a like and follow. Welcome to this BTC/USDT update. BTC is not looking good in LTF. BTC is making a bearish pennant in 1hr time frame and breaks down the pennant. Now, retesting the pennant. If you open longs then keep your SL tight. Looks like it goes for a test to the $42k level. If we are able to hold the $42k level then we can expect a good pump toward the $44k level. But if the $42k level doesn't hold then ready for $40k. Overall looks bearish in LTF so stay safe and wait for the right time. If you like this idea then do support it with like and follow. Also, share your views in the comment section. Thank You!
Short
by CoreCrypto1
2
Bitcoin Short Entry - Bearish Pennant Formed - Next Move?Here is my chart analysis for BTC/USD. There are quite a few things to cover here both in the short and longer term. Short Term: -BTC has formed a Bearish Pennant with perfect structure. The technical target is around $41,300. -You could enter a short from the pennant using an entry method if breakdown occurs and bearish continuation is confirmed. Longer Term -Imo BTC is currently trending bearish and will continue lower over the coming days/ weeks. -Until BTC breaks the channel trend line and 200 MA I am Bearish. Plus on the Daily chart BTC has formed an ascending channel since January. An ascending formation like this is Bearish which is why I believe BTC will inevitably retest the lows. -It's possible that in the short term BTC gets a bounce off this level and gives another try at breaking the $48k major level. -However, inevitably I do believe that BTC will head lower and retest the bottom trend line lows at around $40k, then $36k and possibly lower. -So if you are Bearish now is the time to start planning your shorts if you haven't already entered one. -I currently have a short open with the entry price of $46,400. I will either re-accumulate if BTC heads higher or will sell at the $40k support level if BTC trends down. Happy Trading and Good Luck! *This is not financial advice and I am not a professional.
BITSTAMP:BTCUSDShort
by natef1
7
Important Buy Signal Flashing for AMC!Hey Traders, As you can see on the Daily Chart of AMC. A Technical Indicated a BUY. Historically these Indicators work very well among stocks, crypto, and forex. Even in the past of AMC stock, the BUY signals were great for this. However there is a chance I am wrong and this keeps going down, maybe take this to start DCAing. AMC's target for the recovery is $50 (Fibonacci Golden Pocket). We can put in calls/ longs to be in massive profits! Safe trading, -Pulkanator
NYSE:AMCLong
by Pulkanatir
USDT DOMININCE 1 HOUR UPDATE Welcome to this quick update, everyone. If you are reading my updates for the first time do follow me to get more complex charts in a very simplified way. I also post altcoin setups on Spot, Margin, and Futures. I have tried my best to bring the best possible outcome in this chart. USDT DOMINANCE is making a bearish pennant pattern in a short timeframe so we expect a breakdown side of the support and conform the pannent pattern. What's your thought on this? Do hit the like button if you like this update and share your views in the comment section.
CRYPTOCAP:USDT.D
by CRYPTOMOJO_TA