Although at the time of making these annotations MNKD is gapping-up in the premarket, the fact of the matter is this chart has been in a nasty downtrend and has formed a Bear Pennant Pattern. If it does gain any upside strength, the true test will come if the price can make it up to the pivotal $8 level. Until any multi-day closes above $8, I will remain bearish.
During the last weeks Bitcoin formed a big pennant from the beginning of June until now.
After two weeks of large movement (20 may until 3 Juni) followed by a consolidation period of four months we note converging trend lines. The pennant that's formed is often followed by a breakout movement in the same direction as the initial large movement. It's the second...
The break happened last week and this week can be confirmed, they offer a good risk/reward ratio.
The MACD divergence and RSI indicators are also bullish
So, while everyone is concerned to go back to 540 or maybe even lower. I still think we will get back to at least 600 USD. BTC just broke out upwards after making a Bullish Pennant. This pattern is effectively a pause in an uptrend. The price has moved ahead of itself with a steep rise; therefore market activity takes a break before continuing the uptrend. This...
Sorry for the mistake, check the chart in Day grain, mistakenly forgot to revert back from Weekly
JCP has been licking the recent ceiling for quite some time, and ER is 20 days ahead. So far it looks like a major bearish pennant as it s formed on a/after a down trend. Yet still it is kind of out the major down trend. I guess either positive news, and most...
Consolidating after a nice move on New Game Success. Ichimoku Buy signal just ticked through and MACD crossed bullish. ER is this WED and it will be a beat, beat, raise, qtr. Looking very good. Can wait for breakout to buy, but safe to add anywhere here.
This month looks like it COULD possibly form a Bullish Pennant along the downward trend line that is most notably found on BTCE.
I've been making my attempts at day trading but have failed a few trades, so I've decided to take a step back to my long term strategies and continue there where my skill set is better suited.
If you're new to trading feel free to do...
This is a pennant long that came up on our scan last week when it was only a flag pole. It has been on my watch list since then and I am now fairly confident in the risk/reward to publish. I am using both an aggressive target and aggressive entry. In order to do so I have increased my risk exposure. Not for the faint of heart.
Entry: 2.98
Stop: 2.70-9.3%
Target:...
After this brief consolidation, will we have some short-term rise?
Pennant pattern:
I believe that if we have some huge volume at the break-out point, we might have a pullback ($580) and then a rise in prices ($600).
After breaking the channel, Platinum making a pennant for possible bullish breakout. The big bearish gartley completed, butterfly along with ABCD waiting. The same pennant is on RSI too :)
Thanks to Technician for pointing out the short setup in this chart (link in related ideas). The price is correcting from the fall and a pennant has formed. Looking at the flagpole height projection meeting the median line, a good entry will be when the price breaks over the top of the pennant with a decent risk/reward ratio.
After a "fall from cliff" in the Q4 of last year, $NQ made a bullish pennant and broke out beginning this year. Reaching the 22 (78.6 ret. of the 2013 high). Dropping down to this year low @11 (78.6 ret. of this years high), $NQ creates again a bullish pennant, ready to break out.
The breakout level to watch is 13 with a target 19.50-62
After ret. with 200 pips from the 50fib of the previous rally up, PA managed to ret. only to 38.2 forming a bullish pennant. Is it bullish or just a CZ on structure before cont. down? I suppose the 1st is more likely. With GBPUSD nearing the peaks and weak NZD it is very hard to predict the next moves.
Watch out for the break of 956 for down move and 965 for...
In terms of analysis, I think the charts speak for themselves.
The pair was in a general downtrend (see weekly chart) and we recently saw a pullback into previous price structure.
The pullback did not manage to gain momentum and it actually stopped at the 38.2 fib retracement (highlighted in daily chart).
On the 4H chart, we can clearly see a pennant in...
