Pennant Chart Patterns Tutorial ! Pennant Pattern : Pennant Patterns are continuation chart pattern, forms when price of a security or asset makes strong upward or downward movemnt followed by a consolidation period with converging trendlines which forms a pennant before continuing to move in the same direction. Bullish pennant forms in a bullish trend market...
Purely for Demonstration and Education Purposes, Hence it is a Tutorial to get our wheels turning about possible outcomes. If market structure plays out...hummmm I wouldn't dare to say this will happen, but if it did, it would be a textbook play. Given the sentiment of the market with economic outlook of South Africa and Coronovirus fears, it's not far fetched. ...
CADCHF Pennant. The Trade Idea Hit Three Targets. Used previous swing highs and swing lows for targets. ** ** Two Step Process ** ** First - Price closed below a level of support and resistance Second - Price retested the level of support and resistance Enter on the Retest of a Level using a Limit Order. So, after a price closes below a level, wait after...
CADCHF Pennant. First - Price closed below a level of support and resistance Second - Price retested the level of support and resistance
This is just a simple chart showing continuation patterns. I took all the normal indicators I typically add to every chart to help you see clearly.
Please Do not trade....For educational Purpose
Rising Wedge A Rising Wedge is a chart pattern within the context of an uptrend composed of two upward sloping and converging trendlines connecting a series of higher swing/pivot highs and higher swing/pivot lows. Rising wedge (also known as the ascending wedge) pattern is a powerful consolidation price pattern formed when price is bound between two rising trend...
FORMATION ANALYSIS: PRICE PATTERNS AND CHART FORMATIONS A trend setting of technical analysis is formation analysis. In doing so, certain combinations of movement and correction are considered. If such a combination is detected, the trader can try to trade the resolution of the formation. Basically, a different is made between the trend continuation formations...
XAUUSD Pennant Pattern. Second Entry at 1478.85 horizontal level. Risk 3.86 to achieve 20.07 Reward for a 5.2R trade outcome.
Bitcoin Chart Pattern (Bearish pennant)
Background on higher time frame was bullish/uptrend. Characteristics/points of confluence: established up trending background 50% retracements with high volume price rejection signs of strength/ buying into the sell pressure on high volume Break below support (red box in this example) low volume Test of resistance (in this example previous support and VWAP)...
Training/reference. Strength in background with diminished supply pressure forming a bullish "pennant" using volume to strengthen case. Confluence of: SOS trending above 50 EMA NS signal at resistance NS signal at 14 EMA NS confirmed by 3rd candle close. initial target gain of 0.18% at 1st profit taking objective.
XAUUSD Pennant Pattern. Wait for the Daily Close of the Candle.
Wait for a daily close above or below the pennant pattern. Trade in the direction of the breakout candle.
Hello, I just posted an idea on why I don't like taking breakouts, I mostly do double bottoms on support, but I really loooooove Bit. Connnneeeect. Er I mean triangles. And as a support and resistance "expert", I know when to buy or not (well sometimes). I got a idea of when they are probably not going to hold much longer, and you see, from one strategy it can...
I don't post often, only to point out stuff that sticks out as obvious to me. Red line indicates hidden bearish divergence with higher highs on MACD and lower highs on price. Chart pattern is currently forming a Bear pennant with a target of 148. I've sold and set my buys accordingly. While there seems to be some drama regarding Parity, as far as I can tell,...
Pennant and triangles are tend to fail close 70% of the vortex which is the peak level. By paying attention to this detail you can easily determine the strenght of the pattern you found. If the pattern fails too early or too late, it means that the market is not paying attention to your pattern. We're looking to long this pair after the breakout. Thank you...