The pattern looks clear so I go long on break of a pennant with target at 5918 that is calculated from the impulse leg.
My view on gold right now,it looks like its forming a bullish pennant for now but a bigger correction its not excluded.
USDCAD developed a bearish pennant on daily which is a continuation pattern and after last days failure to make a new high we could see the start of a big move down.
Main signals: 1-multiple top 2-gap 3-formation of pennant Sell 99.30-99.10 pennant's bottom line breakout Stop-loss 100.59 (+1 tic above pennant's high price) Target #1 95.00 (sizing) Target #2 90.00 (Elliott's waves+strong supporting level)
Signals: double top pennant breakout of strong inclined support Sell 34.10-39.80 Stop-loss 34.85 (+1 tic pennant's high) Target #1 31.00 (sizing+strong support) Target #2 28.00 (sizing+Elliot's waves+strong support)
Signals: double bottom pennant-triangle Buy 5.72-5.75 (breakout of pennant's top line) Stop-loss 5.30 (-1 tic under local wave) Target 7.50 (sizing) R/R ratio 1:4
Simple pattern trade here for a possible short position on this pair. Trade would be based on opening price action Sunday night. R/R around 1:2 which fits my criteria.
USDCAD forming a bearish pennant which could give us a good opportunity for a short trade .
My analysis on this instrument on what i think its gonna do in the next weeks.
GBPNZD developed a nice bearish pennant on h1, waiting for going short on this pair after a clear breakout.
EURCAD is developing a bullish pennant pattern and i am looking for a breakout to buy this pair.
Signals: breakout of inclined resistance pennant gap Buy 97.00 Stop 92.94 Target 107.00
Signals: multibottoms pennant breakout of inclined resistance Buy 35.30 (breakout of top pennant's line) Stop loss 33.85 (-1 tic pennant's low) Target 40.00 (sizing) R\R ratio 1:3
The bullish pennant on the weekly chart of XAG/USD offers an upside breakout opportunity. The pennant's borders and its pole are marked with the yellow lines. My potential entry point is at the cyan line. My potential take-profit level is at the green line. I will set the stop-loss order to the low of the breakout bar (not shown). More information, chart...
USDJPY short term idea. Buy Now as I have found a pennant at this zone also it is nicely supported by fibbonacci levels. Break expected.
Here is a possible idea on what EURUSD might do in the next days.
Just so you guys know there is a pennant forming on the 4hr dxy chart. If price breaks, and TESTS THE POINT IT BROKE.. it should continue to trend in that direction. So lets see what happens from here. If a complete break does occur, you know what to do with your pairs.
A pennant formation has appeared and will probably break up within this month. The target price is around $1070, which is close to the last historical top. It coincides with the sum of the breakup price and the height of the the flagpole.