On the monthly, weekly, and daily, DE does not look good. It may seem like a Bull pennant but I believe this is a long distribution. The newest weekly close is a rejection of the top trendline. I expect it to retest the bottom of the trendline and, if the overall market is doing poorly, then DE will fail to bottom out and fall off a cliff. Price action is the...
Hello friends, we see that we have broken ways down from the previous bullish channel price action.
We have dipped hard and I believe we are forming a bearish pendant as a correction and will continue down a bit more.
wait for the pendant to break to make your trades.
Stay limber my friends, stay limber.
A bearish pennant pattern has formed on the weekly EUR/USD chart following a double top pattern we traded earlier. The pole and the pennant are show with the yellow lines. The stop-loss level (the red line) is set to the highest point of the pennant part. The take-profit level (the green line) is set to the pole's length subtracted from the stop-loss level. I will...
BYBIT:BTCUSD CME:BTC1!
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📊 There are two factors that makes me bullish in short-term on #BTC !
- Still moving in a bearish pennant
- CME gap formed on 63K
📌...
BITSTAMP:BTCUSD
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Before we start to discuss, I would be glad if you share your opinion on this post's comment section and hit the like button if you enjoyed it !
#BTC has reached a new ATH located at $69000.00, However the ATH's conquering didn't last long and some of the bears set their orders above and formed a sell wall there.
Now #BTC is...
In my analysis of GBP/JPY on the 30 minute chart, this currency pair has formed a Bearish Pennant. Price should break the Pennant and move down to est. Price of $153.275. In this analysis I used Trend analysis and chart patterns . FX:GBPJPY
The .236 Head and Shoulders break target held with a wick; then a move to the upside off the apex of the consolidation pennant. The H&S Pattern is now in the books; confirmed with the shallowest of retracements. Now tracking the beginnings of a Bull Flag. The Bull Case sees continuation through the bull flag; a back test of the H&S neckline is also a spot to...
Price has set-up above .236 Pattern Break Support. NASDAQ and Big Tech are moving-up via 5 min 8 EMA buy pressure, taking the liquidity and risk to the upside today.
Bear Pennant shaping-up, watching for price compression and a clear break. ETH and BTC have been known for the fake-out breakdown before the uplift to resolve recent wedges.
Reasons for entering a short trade:
• Price is currently at a corrective state which has formed an ascending channel this could also be viewed as a bearish flag
• 90% rule of a channel
• Downward trend followed by correction so downward trend likely to continue
• At an area of strong daily resistance
From my perspective, it doesn't look as good for Bitcoin as you hear from the perma-bulls.
The 40k support is still holding and I myself also expected a strong reaction, but hardly anything came.
What do you think? Trend continuation or liberation blow from the bulls?
My reasons for taking a short trade here:
1. Price has broken out of a bigger structure (an ascending channel), theres a 90% chance of it going to the bottom of structure
2. Downward trend which has created a rising wedge which is a reversal pattern
3. Price has broken out of the rising wedge
4. Downward move followed by correction which creates a bearish pennant.
Daily & 4H down trend. Price at major daily Support level (Head & Shoulder Neckline).
Price pulled back to 23.6% on 4H Fib. Starting to form 1H & 4H Bearish Pennant.
Expecting price to break Major zone and start Daily Head & Shoulder breakout.
Short $MU CMP $72.14. Failed to claim 50 EMA. Downtrend continuation. MACD histogram turning negative. Bearish Pennant pattern. Possible short target $58-60
There is a medium-term swing trading opportunity presented by a bearish pennant on the daily chart of XPD/USD (Palladium CFD). It provides a bearish breakout trading setup. The pennant and its pole are marked with the yellow lines. My potential take-profit level is marked with the green line (1641.16). My potential stop-loss level is marked with the red line...
