Pennant forming - Target 128 ish

MTGOX:BTCUSD   Bitcoin / U.S. Dollar
304 8 3
Looks like a pennant (short symmetrical triangle) forming. The volume is going down with the point, very textbook. Hopefully it can take us through resistance (double red rings).
Well, the next (daily) pennant broke out. Didn't publish that one but did call it. ;-) Already reached that target of 133 or so, think others are going to pile on though, keep an eye on it.
let's see if the double red ring will be butter or hammer.
LeMogwal, I am hoping the daily chart (which is much stronger than the 4hr) just keeps plowing on. But watch that area in general, as it is resistance a few have mentioned.
LeMogwai ItsAboutSharing
i am aware about the resistance, we actually don't feel it in the price moves, i hope it will just go through it.

Did you try to draw this gann with a fib number of 21 (and does it can be used?) ?
LeMogwai LeMogwai
or with keeping this initial impulse but changing the fib number and use 3 ?
I don't think you choose like that. I haven't tried. Need to back test.
LeMogwai ItsAboutSharing
ok !
I use and try to find the settings that make the gann fit on the moves already present, but i m not sure if it's a good use of it...
Well done.
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