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Pennant

Bitcoin can make small correction and then continue to growHello traders, I want share with you my opinion about Bitcoin. Observing the chart, we can see that the price some time ago entered to upward channel, where it soon reached the resistance level, which coincided with the seller zone, but at once bounced and made a correction to the support line of the channel. Next, the price continued to move up and finally broke the 64900 level, and later reached the channel's resistance line again. But then BTC turned around and started to decline, so, soon, the price broke the resistance level one more time and exited from the upward channel. After this, the price continued to fall inside the downward pennant, where it first fell to the support level, which coincided with the buyer zone. When BTC fell to this level, it at once broke it, some time traded near the buyer zone, and then declined to support line of the pennant. Next, it turned around and rose higher than the 61200 level in a short time, breaking it again, and soon reaching the resistance line of the pennant. A not long time ago, BTC exited from pennant and now it continues to grow. For this case, I think that the price can make a small movement down and then continue to grow to the resistance level. That's why I set my TP at the 64900 level. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
3
Gold can correct to support area and then rebound up to 2700Hello traders, I want share with you my opinion about Gold. Observing the chart, we can see that the price declined from the buyer zone a little below, but then it entered to wedge and at once rebounded up from the support line to the resistance line, breaking the 2475 level. Then price some time traded in the wedge and later made a correction to the support level, which coincided with the support line of the wedge and made a strong impulse up. Price exited from the wedge and rose a little more, after which made correction below. Then Gold continued to move up inside the upward pennant, where it reached the current support level, which is located inside the support area. Next, the price broke this level and rose to the resistance line of the pennant, turned around, and corrected to the support area. But a not long time ago it bounced and rose to the resistance line of a pennant, which continues to trades below to this day. In my opinion, Gold can exit from the pennant, fall to the support area, and then start to grow. For this case, I set my TP at 2700 points. Please share this idea with your friends and click Boost 🚀
FOREXCOM:XAUUSDLong
by LegionQ8
1
Bearish Pennant on EUR/GBP @ D1This chart shows a bearish pennant on the daily chart of the EUR/GBP currency pair. It can be used as a trend continuation pattern in case of the price closing below the lower border of the pennant part. The pennant and its pole are shown with the yellow lines. My potential stop-loss level is marked with the red line (0.83861), it is placed at the high of the pennant area. My potential take-profit level is marked with the green line (0.82562), it is placed at the pole's length below the SL. I will wait for the price to close significantly below the lower border of the pennant area to execute a trade here.
Short
by AndriyMoraru
Consolidate before pumping.. VCP and SMC concept Using both the Volatility Contraction Pattern (VCP) and Smart Money Concepts (SMC), we can build a clearer perspective on whether to buy TAI in the current market. 1. VCP Concept Consideration: The VCP pattern shows that the price is tightening and volatility is contracting. The price has been showing lower highs and stabilizing around $0.10. In a typical VCP, you wait for: A tightening range with lower volatility, which we are observing in the current chart. A breakout above a key resistance level, which has not yet happened. The breakout level would likely be around $0.15–$0.17, as that's where the previous highs have been formed. Buying Spot Now Based on VCP: Pros: The price is near a strong support zone around $0.10, which could represent the final contraction phase before a breakout. If you are confident in the breakout potential and willing to take on some risk, buying near this support might give you a favorable entry point before the potential surge. Cons: A VCP strategy generally recommends waiting for the breakout with strong volume to confirm the upward move. Since there has been no clear breakout yet, entering now is risky if the price breaks down further. 2. SMC Concept Consideration: From an SMC perspective, the market structure remains bearish: The current bearish trend and order blocks around $0.15 suggest a short-term continuation downward if the price doesn’t break the bearish structure. Liquidity grabs: There’s a possibility of a liquidity sweep below $0.10 before any upward movement. If this happens, you might get a better price than now. Fair Value Gap (FVG): An imbalance exists between $0.14–$0.15, meaning the price may retrace to fill this gap before moving lower, offering a potential entry for a short-term trade. Buying Spot Now Based on SMC: Pros: SMC suggests that if the $0.10 demand zone holds, this could be a sign of accumulation by institutional players, meaning the price could start to rise from this level. Cons: If a liquidity sweep occurs below $0.10, you might be able to enter at a better price, but you risk buying now at the upper range of consolidation. SMC often suggests waiting for market structure shifts (such as higher highs and break of resistance) before buying, which hasn’t occurred yet. Summary: Should You Buy Now? If you are a conservative trader using these concepts, the answer would likely be to wait: VCP theory suggests waiting for a confirmed breakout above $0.15–$0.17 with strong volume before entering. This breakout will confirm that the price is exiting the accumulation phase and entering an expansion. SMC theory advises waiting for the market structure shift to bullish, which would be indicated by a break of resistance or a liquidity grab below $0.10, followed by a strong recovery. If you are a risk-tolerant trader and believe in the long-term potential of TAI, buying at the current $0.10–$0.11 support zone could be a strategic move, with the understanding that: You might see short-term downside if there is a liquidity grab or continuation of the bearish trend. Place a stop-loss below the $0.08 level to minimize risks in case the price breaks lower. Final Recommendation: Conservative Approach: Wait for a breakout above $0.15 with volume. Aggressive Approach: Buy at the current support around $0.10 but manage your risk with a tight stop-loss.
Long
by paulkongck83
2
Bitcoin can grow to 63K points exiting a pennant patternHello traders, I want share with you my opinion about Bitcoin. Observing the chart, we can see that the price some days ago started to grow inside the upward channel, where it in a short time rose to a resistance level, which coincided with the seller zone. Soon, BTC broke this level and rose to the resistance line of the channel, thereby later exiting from it and then turning around and starting to decline inside the pennant. In this pattern, BTC at once fell to the 61000 level, broke it again, and later continued to decline next to the support level, which coincided with the buyer zone. Later, the price broke this level and fell to the support line of the pennant pattern, after which at once started to move up and soon broke the 56100 level one more time. Next, the price continued to grow and reached the resistance line of the pennant, but recently it rolled down a little below and now trades near this line. So, in my opinion, BTC can correct to support line of pennant and then start to grow to a resistance level, thereby leaving this pattern. When the price reaches the 61000 level, it can break it and then continue to move up. For this case, I set my TP at 63000 points. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
6
Gold can fall to support level, break it and continue to declineHello traders, I want share with you my opinion about Gold. By observing the chart, we can see that the price some days ago started to trades inside the big range, where it at once rose to the top part, after which started to decline. In a short time, Gold fell to the support level, which coincided with the buyer zone, broke it, and even made a fake breakout of the bottom part of the range, after which quickly backed up. Next, the price rose almost to the top part of the range but later turned around and dropped to the buyer zone. Then price started to grow near the support line of the pennant and later reached the current support level, which coincided with the support area. Next, XAU broke this level, exiting from range, and reached the resistance line of the pennant. Price some time traded between this line and the 2485 level, after which later corrected to support line of this pattern. A few moments ago price turned around and rose almost the resistance line, where continues to trades near to this day. So, for this case, I think Gold can make small movement down and then reach the resistance line of the pennant. After this, the price can start to decline to the support level, exiting from the pennant pattern. Also, I think XAU will break this level and continue to fall, therefore I set my TP at 2450 points. Please share this idea with your friends and click Boost 🚀
FOREXCOM:XAUUSDShort
by LegionQ8
6
EURUSD Analysis==>Cup and Handle Pattern==>>Pennant PatternEURUSD is moving near the Support zone($1.105-$1.103) and managed to break the Downtrend line . If we look at the EURUSD chart from the point of view of Classic Technical Analysis , we will notice two Cup and Handle Pattern and a Bullish Pennant Pattern . After breaking the neckline, I expect EURUSD to rise to at least the Resistance zone($1.111-$1.109) . Euro/U.S.Dollar Analyze ( EURUSD), 15-minute Time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Long
by pejman_zwin
3
ETH SHORT "BEARISH PENNANT"Hope my chart analysis helps traders make wise decisions when trading ETH. I see a "bearish pennant" of course on a smaller time. A quick tip: You can tell which timeframe a pattern is on according to its size; I think it's on a 30min-1hr timeframe. I forget. The date and time symbol has no significance expect for the fact it may drop down to its support level (green line). I'll improve my chart and idea analysis & better descriptions in the future. Happy trading everybody!!!!!
COINBASE:ETHUSDShort
by calvinharrison2023
2
Bitcoin can little fall and then continue grow to 64700 pointsHello traders, I want share with you my opinion about Bitcoin. Observing the chart, we can see that the price some time ago declined to the resistance level, which coincided with the seller zone. After this price started to grow and soon rose from the seller zone to 70100 points, but at once turned around and started to decline inside the pennant. Inside the pennant, BTC broke the 64700 level and fell to the support level, which coincided with the buyer zone and also soon broke this level too. Next, the price reached the support line of the pennant and at once rebounded and in a short time rose to the resistance line of the pennant, breaking the 56600 level one more time. Later, BTC exited from the pennant and started to trades in range, where it rose a little more and then made a correction movement until to bottom part, which coincided with the support level. After this movement, Bitcoin rebounded and rose to the top part, after which some time traded near and a not long time ago dropped to 58000 points. Then it started to grow, and I think BTC can decline a little and then continue to move up. For this case, I set my TP at a 64700 resistance level, which coincided with the top part of the range. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
5
BTC - FINALLY - Bullish BREAKOUT? For the last few months, I've been preaching patience as we saw a multi-month correction play out, all as a part of the bigger-picture Elliot Wave playout. The charts are looking positive after some bullish action started showing up from yesterday. I'd be ready to say the corrective phase is finally over and we're starting the new impulse wave up IF Bitcoin can keep above this support level highlighted on the chart, around $63k. This would validate a successful Flag-Breakout / Pennant breakout pattern. However, if we close a daily UNDER this key support zone - it's likely that we're not there just yet. I'm still of the opinion we'll be on our way towards a new ATH close to December, as BTC loves Decembers historically. ______________________________ BINANCE:BTCUSDT
COINBASE:BTCUSDLong
by Crypto-Check-