This idea was put together for a non-trader friend almost two weeks ago and I didn't expect any new highs to be reached just yet but it looks like she might break up here anyway (flagging this as a long but I wouldn't actually enter till support is confirmed on the prior high if I were you so beware)
Broken zone now looking out for continuation patterns....
On the H1 we would have a symmetrical pattern better for a break to the down side...
since there is no good swing below there, we taking a risk to reward preferably one of 1:2
Money flow is the same as it was at 11:30 yesterday morning yet we're up $4 today. Without major news, unsustainable. We're looking at completely overbought on the daily, falling outside of the bollinger bands. The market is definitely trying to correct this. As i typed this they pumped it up to 168.40ish lol. Up 2% on a stock with bad news daily because a dude...
The price action is near at the pennant's resistance but this time the bulls got weak even before touching the pennant's resistance.
There is also a bearish shark formed and it is likely to be completed now and the price action is in the potential reversal zone of this pattern.
The 25MA is bearish and moving down to give a death cross with 50MA. We also have pivot...
BNBBTC! Two possible patterns developing! A Symmetrical Triangle or a Downward Channel. Both or bullish long term. For this to be a Symmetrical Triangle .00333 support must hold with a candle close once at target. Vice versa for the downward channel, the support must break. Currently I'm bearish until that target....
BTCUSDT! Bearish Divergence. BTC is currently running out of momentum and it has a reversal bearish divergence pattern that is completed on the daily stochastic rsi and has created a pennant. Price can go either way. I'm currently waiting on a confirmation.
Current pattern Half Staff Pennant:
Time Frame: Daily Chart
My Targets: Probability can change.
Short term the NZDUSD has created a bearish pennant formation - we could see the NZDUSD re-test the 0.6500 area
However, long term there is a bullish RSI divergence suggesting there could be some upside back towards the 0.6630 resistance level.
This will depend on the trade war/ RBA and RBNZ interest rate decision in the coming days
The price action was moving within the pennant since july 2018 and withing the pennant the price action also formed a head and shoulder pattern which causes the bull thrust and price action has broke out the pennant's resistance. Now there is a golden cross formed just beneath the price action which will produce more bull thrust insha Allah.
The targets are as...
While BTC, ETH and BNB all show bearish favor or turned to bearish mode, XRP holds bullish phase and keeps good volume day by days.
Since the earlier of 2019, XRP usually goes against BTC move, will XRP do the same thing this time?
I think XRP can reach (at least) $0.48 this time.
Ideal buy zone is $0.43 to $0.44.
Stop-loss should be placed...
#APPC - Consolidation at the 4h MA200, making a nice pennant, good r/r.
1st TP: @ 0.00001197
2nd TP: @ 0.00001285
3rd TP: @ 0.00001386
Stop loss: @ 0.00001069
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XRP/BTC! XRPBTC! 4 hour chart has Bullish Divergence. Currently I think were in a bullish pennant pattern.
Pennant Identification Guidelines
Characteristic: Price trend can be any direction leading to the chart pattern. The shape looks like a short symmetrical triangle and price moves between two converging trendlines. The...
USDJPY has potentially formed a long term bullish pennant.
Trump has caused havoc yesterday whilst tweeting about Mexican trade tariffs.
Everything has dropped again the JPY. Could we see some relief next week?
If this is a bullish pennant, we could see the USDJPY rise above 112 in the long term.
Any thoughts or ideas welcome...