GBR has created lower highs on the RSI since Oct 2018 but the price has continued higher until the blow-off top in late June 2020.
The RSI looks like it's trading in a Descending Channel.
The KST has seen multiple bearish crosses since Dec 2018 and continued lowers highs indicating momentum is fading.
Noticeably the price has broken flush to the downside of a...
This long-term bearish pennant on the weekly chart of EUR/NZD 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. My potential stop-loss level is marked with the red line. A short trade can be entered once a week closes well below the pennant's lower border.
This bearish pennant formation on the daily chart of the EUR/AUD currency pairs presents a bearish breakout trading setup. The pennant and its pole are shown with the yellow lines. My potential take-profit level is marked with the green line. My potential stop-loss level is marked with the red line. I will wait for a close well below the pennant area before...
Currently in a 1day chart bear pennant that has a breakdown target of 8.4k or so but could see a reversal at the golden pocket in the 9.2-9.5k range instead of reaching the entire breakdown target. We've also already tested the weekly chart 21 ema(not shown here) as confirmed support so there's a chance of a reversal here but seeing as how we have yet to fill the...
There's a clear bearish pennant forming on the AUDJPY in the 15-minute timeframe. A bearish pennant forms when a triangle appears following a sharp downtrend. It is a continuation pattern that signifies a move lower. Recent news suggests Australia is struggling to contain COVID-19, given a surge in cases in Victoria (Australian state). As a result, it seems that...
It is a period in which the relative data flow in the markets is weak and the uncertainty is high and so I found pattern searching correct.
Trade parameters have been expanded to increase the Risk / Reward Ratio.
Position Size : %1 (0.01)
Risk/Reward Ratio : 3.00
Leverage : Max (Minimum 50x)
Stop-Loss : 75.370
What are Pennant Patterns? Flag and Pennants meaning
Pennant patterns form after a strong price movement. This is because after a strong upward or downward movement the buyers or the sellers take a break and battle for a short period before the trend eventually breaks out and continues the primary trend.
Step #1 Apply Parabolic SAR indicator to the chart.
JUST ANOTHER SHORT TERM BULLISH IDEA...
SYMETRICAL TRIANGLE+ ASCENDING TRIANGLE = CONTINUATION PATTERN ?
WE WILL SEE... ;-)
thank you so much your comments!!
This one also coming from this idea:
Love and good luck!
Pennant are generally continuation Pattern. Sometimes, very rarely they work as inversion pattern
The trading idea can be to sell at the current level and get out as per below two options:
Option A - Bearish up to level 25.00
Option B - Bearish up to level 24.00
Although a rather simple setup, I find this appealing nonetheless. Here are some key takeaways going into tomorrow's open.
- We appear to be forming a bear pennant. Note the two wicks to the upside that ended in the Daily candle closing down. It appears that Shorts are prominent along this upper resistance. The volume also appears to be in confluence with the...