Bullish pennant breakout pushes USD/JPY to an upside.
Keep your eyes peeled for clues that the bulls still have muscle in their hustle to boost the dollar to the 108.958– 109.871 previous area of interest.
Not convinced that an upside move is in the works? You can also short USD/JPY at the earliest signs of bearish momentum using our Plan no. 2 if plan no. 1 fails.
Awesome t see price action rebound exactly on my stochrsi horizontal trendline. the 1 day 200ma is floating somewhere around the 8.6 k level and I do anticipate it will provide resistance at least upon the initial retest .
Btc appears to be forming a bullish pennant on the daily. Pennants are usually continuation patterns & very rarely produce a trend reversal. The move before the pennant formation is in an uptrend, so btc is likely to continue its move upwards if it breaks up above when we reach the apex of the triangle (we're nearly there/possibly already there).
We can see now after a very weak "breakout" from the 4hr chart falling wedge that it is the 1 day chart bull pennant that is still very much the dominant chart pattern at the moment. The good news about that is the breakout target should be much much higher than the falling wedge's target would have been. The bad news is the pennant is a descending triangle which...
Bear trapped confirmed as the 1 day candle that dipped down ad filled the 10.1k gap last night bounced all the way back up to close inside the bull pennant as I was expecting. We also hav a 4hr golden cross due to occur in the next 4-8 hours which I think will instigate a bullish breakout from this pennant.
green horizontal still maintaining great support. the 1 day 50ma(in orange) continues to grow more and more parallel with the ascending red neckline double reinforcing boths levels of support: price action could continue to grind slowly up the red ascending line and form an symmetrical bull pennant it should ultimately pick a direction by the time it reaches the...
Im watching a possible Bull pennant forming at this time. Lets see if it plays out... Set that stop loss if you plan on longing. A stop loss is like a back up parachute. I wouldnt skydive without one. Just like I wouldnt trade without a stop loss... But WTFDIK?
Now we have some more candles, GAP has been closed earlier today and now I see another sign for further up - bullish pennant, bottom lines have breen drew on 30 min time frame, so on 1h they probably doesn't look too right but on 30 min they are so if/when pennant is broken 1st tp at 1555.
P.s. Here is my new telegram group!...
Tethers flowing, BTC sentiment has never been this low (Extreme fear) and thats a good thing. Always move against the herd. the herd is not bullish, the herd is not greedy, the heard fears bitcoin.
just look at the sentiment chart here: alternative.me, even in crash from 20000$ in February the sentiment was not this...
It appears as though Bitcoin Is getting ready to go parabolic over the weekend & touch the top of this Descending Triangle, or potentially try to break this Bull Flag & put in a higher low.
Only problem I have, the volume etc are declining, so I'm not overly bullish.
It's hard to look for bullish patterns in a short term bear trend that potentially started...
Gold’s bullish climbing against USD goes on as US and China’s economic tension continues.
When we check the 2 hour chart, 1488 support worked well and pushed the price to 1533 resistance. Let’s wait and see if this resistance can handle with the strong move or would price be able to break resistance and go into 1523-1553 channel. As in my opinion even if 1523...
If we can 1H close above the blue line, this
could be a good play for ETH/BTC.
Bull Pennant printed out and price is looking
to retest the top as support to signal an entry.
Potential targets are the orange lines acting
as short term resistance.
If invalidated, we'd be looking to test the S/R
flip located at the black line.