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Bullish Pennant

LTC stepping over long term resistance?Continuation of Bull Pennant uptrend that began the start of August. This Pennant is different than the previous two in that it consolidates at long term resistance marked with yellow horizontal line, hence the tighter pattern. Confirmation of RSI over 70 and bullish divergence in MACD along with similar Bollinger Band consolidation and breakout could indicate further upward momentum and a bull candle resembling previous flag poles. Very promising pattern, especially considering LTR was breached in formation of flag pole. Historically, further resistance has been at 52 and 55, so seeing how this reacts at those values will be interesting. I am bullish long term on Litecoin. Interested in other's thoughts. Happy & Profitable Trading!
BITFINEX:LTCUSDLong
by evandja
UJ repeating history?My thoughts on this recent UJ push: If we back trace on the weekly chart back in May-Oct of 2013 we can see a similar pattern potentially forming right now. (Bullish Pennant) Fib extensions are drawn from red ellipses for reference. I drew a regular fib so you can where the bullish pennant retraced to. I used this idea to mock up a fib on the current direction of the market. Then placed an extension showing where it could go. The 61.8 on the FE lines up closely with the previous high back in June of 2015. Should be interesting to see where this will go. I currently have two long positions, one at 113.020 and 133.172, up almost 40 pips on the first and almost 25 on the second. I'm thinking of holding this until the 114.249 area are the 61.8 to see what happens.
Long
by CasMinor
Bullish Pennant on XAG/USD @ W1The bullish pennant on the weekly chart of XAG/USD offers an upside breakout opportunity. The pennant's borders and its pole are marked with the yellow lines. My potential entry point is at the cyan line. My potential take-profit level is at the green line. I will set the stop-loss order to the low of the breakout bar (not shown). More information, chart template, and a free expert advisor to automatically trade this pattern - on www.earnforex.com
FX:XAGUSDLong
by AndriyMoraru
Bullish Pennant on XAG/USD @ D1The bullish pennant on the daily chart of XAG/USD offers an upside breakout opportunity. The pennant's borders and its pole are marked with the yellow lines. My potential entry point is at the cyan line. My potential take-profit level is at the green line. I will set the stop-loss order to the low of the breakout bar (not shown). More information, chart template, and a free expert advisor to automatically trade this pattern - on www.earnforex.com
FX:XAGUSDLong
by AndriyMoraru