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Pennant

Gold can make upward impulse from support line to 2060 levelHello traders, I want share with you my opinion about Gold. Observing the chart, we can see that the price recently rebounded from the 2030 support level, which coincided with the support line of the pennant and made a strong upward impulse to the resistance line, breaking the 2060 resistance level, which coincided with the seller zone. After this, Gold bounced from the resistance line and made a downward impulse to the seller zone, exiting from the pennant, and soon the price broke the 2060 level too and declined lower. Also then, the price started to decline in a downward channel, where it fell below even the 2030 support level, which coincided with the buyer zone. Later Gold bounced from the support line of the channel and rose to the resistance line, breaking the 2030 support level again. At the short time later price exited from the channel and started to trades in one more upward pennant, where it continues to trades near the support line at the moment. Possibly, Gold can rebound from the support line and rise to the resistance line of the pennant. After this, XAU can make a little correction, after which it continues to move up to the resistance level, thereby exiting from the pennant. So, I set my target at the 2060 level. Please share this idea with your friends and click Boost 🚀
FOREXCOM:XAUUSDLong
by LegionQ8
2
Bitcoin Bullish Continuation to 50kCRYPTOCAP:BTC price has been consolidating at highs as we await the imminent ETF approval announcement. At this point a bullish pennant pattern has formed and the daily bollinger bands have tightened, signalling that we will soon see volatility that triggers a breakout. In terms of targets, the fib extension of the chart pattern says 47.3k to 49k. I am keeping in mind however that Bitcoin has never exceeded the 61.8% retracement of the previous drawdown pre-halving. Although the ETF approval announcement could make things different this time. If we exceed 50k, buckle up lads.
INDEX:BTCUSDLong
by HaydenOtto
Euro can rebound up from support line of channel to 1.0985Hello traders, I want share with you my opinion about Euro. Looking at the chart, we can see how the price rebounded from the support line of the pennant and made a strong upward impulse to the resistance level, which coincided with the seller zone, thereby breaking the 1.0930 level. After this, the price made little correction and then continued to move up to the resistance line of the pennant, breaking the 1.1040 level too. But when the Euro reached this line, it turned around and made a strong downward impulse lower than 1.1040 and 1.0930 levels. Also, the price exited from the pennant and later started to rise in an upward channel, where in a short time rose higher than the 1.0930 support level, which coincided with the buyer zone, breaking it one more time. Some time later, EUR rose to the resistance line of the channel and not long time ago rebounded down from it. At the moment, the Euro trades near the support line and I think that the price can fall to this line and then rebound up to the resistance line. For this case, I set my target at the 1.0985 level. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
3
GOLD - Price can exit from pennant and rise to resistance levelHi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊 Some days ago price bounced from support level, which coincided with support area, and declined to support line of pennant. After this, XAU bounced from this line and made strong upward impulse to resistance level, which coincided with resistance area. Price broke $1990 level, and soon Gold declined below this level again, but soon rose back, making fake breakout. Then XAU rose to resistance line of pennant, after which price at once bounced and declined to support line. Recently price bounced from this line and now Gold trades very near from resistance line of pennant. Possibly, price can make little correction, after which it bounce up to $2085 level, exiting from pennant pattern. If this post is useful to you, you can support me with like/boost and advice in comments❤️
OANDA:XAUUSDLong
by WalterMoon
1
Is the DXY in a long term downtrend? DXY Downtrend The 6 month candle chart suggests we could be in for at least two red quarters which would suggesting positive markets..... which seems contradictory to the current sentiment BUT not the current charts (S&P, NASDAQ,etc). The weekly chart currently shows the critical resistance at $1.00 and we appear to be heading straight for it. I genuinely think that given the 10 month SMA turning to the downside will act as resistance and the three tests of the underside support may puncture the resistance and lead to further downside., As always there are no guarantee's but the DXY chart in my opinion currently looks bearish long term. I am currently looking at a time based analyses at the which will follow Time will tell PUKA OUT
TVC:DXYShort
by PukaCharts
ETHEREUM - Price can leave pennant and then fall to support areaHi guys, this is my overview for ETHUSDT, feel free to check it and write your feedback in comments👊 Recently price entered to flat, where it rose to top part, which coincided with $2430 level, and then bounced down. Price declined to support area, which coincided with $2170 support level, and some time traded near this zone. After this, ETH made upward impulse to $2430 level and broke it, thereby exiting from flat. Also, price started to trades in pennant, where it reached resistance line and then in a short time fell to one more support zone. Then ETH rose to resistance line, but recently it declined to support line, where at the moment price continues to trades near. Ethereum can break resistance line, thereby exiting from pennant, and then start to fall to $2430 If this post is useful to you, you can support me with like/boost and advice in comments❤️
Short
by WalterMoon
1
Bulls for Wipro?!Like anything in the market timing is everything. Being a sniper with execution is essential and knowing when to enter a trade is important. Here are my thoughts on this trade idea... Fundamnetals: Highest Daily gainer on Friday with trading volume around 15.245M and usually its at 1.779M That's a lot of momentum and the next quarter point is the next logical resistance it will meet which is $745.00 Chart Pattern: Bullish Pennant pattern Indicator: Hidden Bullish Divergence
NSE:WIPROLong
by OnenessTrader
Euro can make downward impulse to 1.0875 level from pennantHello traders, I want share with you my opinion about Euro. Looking at the chart, we can see how the price rebounded from the support level, which coincided with the buyer zone, and in a short time rose to the resistance level. Then the price started to decline in a downward channel, where the EUR declined to 1.0725 points, thereby breaking the 1.0875 level. After this, the price rebounded from the support line and in a short time rose back to the 1.0875 level, exiting from the channel. Later price broke the support level and continued to move up to the 1.1010 resistance level, which coincided with the seller zone. But firstly, the Euro rebounded and corrected, after which it made a strong upward impulse to the resistance line, thereby forming an upward pennant pattern and breaking the resistance level. Then price bounced from this line and soon declined to the support line, breaking the 1.1010 level one more time. And now, the price continues to trades very close to this line, and possibly Euro can bounce from the support line to the resistance line and then make an impulse down to the support level, thereby exiting from the pennant pattern. So, that's why I set my target at the 1.0875 level. Please share this idea with your friends and click Boost 🚀
Short
by LegionQ8
5
AUDUSD Possible Pennant BreakHi Traders! There is a potential bearish pennant break on the AUDUSD. Here are the details: Price is currently on the 20 EMA, and with market swings with lower highs and lower lows, the price action suggests that this is a bearish setup. We are looking for the market to target the trendline support with a possibility of a break below to target levels near the monthly low at 0.66406. Preferred Direction: Sell Technical Indicators: 20 EMA Resistance: 0.62748 Support: 0.66406 Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
Short
by BluetonaFX
XRP Long Term Bullish OutlookCRYPTO:XRPUSD long term is very bullish. I measured that we will hit the target profit $27 around early to mid 2025 based on the previous 1 year pole. You can see the formation of rally-consolidation-rally with a bullish pennant consolidation. RSI is looking good too, i'm certain it will close with a crossing but you can wait until december closing to make sure. Also outside of technical analysis, xrp or ripple is very good fundamentally and narratively. The narrative of CBDC will be major if the world government implement this globally, i think it will be implemented in 2024 or 2025. It's best to buy XRP now.
CRYPTO:XRPUSDLong
by UnknownUnicorn25768508
20
ETHEREUM - Price can exit of triangle pattern and then bounce upHi guys, this is my overview for ETHUSDT, feel free to check it and write your feedback in comments👊 Some time ago price made upward impulse from support line of pennant to resistance line, breaking $2200 and $2365 levels. After this ETH at once bounced from resistance line and declined to support line, breaking one more time $2365 level. Later, price made impulse from this line higher than $2365 level, where soon it entered to triangle and then fell below. Ethereum declined even below support level, which coincided with support area, but recently it bounced from support line back. Now, ETH continues to trades in triangle near support line and I think price can exit from this pattern. Then Ethereum can decline a little more and later bounce up to $2310 level. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
4