Good morning, traders. Many were scared off by yesterday evening's little drop. As we can see, price bounced just above the pivot closing above the 21 EMA once more. The short double bottom target, of the swing high denoted by the purple line/R1 pivot, remains at this time. The 4H Stoch RSI is nearing a bullish cross in oversold. RSI remains bullish at 56.8.
BITFINEX:OMGUSD price crossed above the resistance level set at $1.80 and is looking to set a new support level at $1.9582. Price breaks out of Bullish pennant triangle signaling an upcoming bullish run in coming weeks.
Quick observation on EURUSD Hourly. We see a pennant forming with some consolidation and resistance support line of the pennant. We could see a price move up and break past the resistance to then hit top of pennant at price of 1.132. Over all target for me is 1.134 due to daily chart in a channel at the moment. Will take out profit slowly and use a SL to cash out...
The NZDUSD has been trading between a pennant formation since December 2018.
The pair have now touched the bottom area of the pennant due to a negative Interest rate statement from the RBNZ.
This provides opportunity to BUY back up towards 0.6920.
This stock came across my scanner and I like this trade setup for a long play on the breakout, target would be $30-$30.30.
If price falls below the lower support, trade would be void.
Lets see how this idea plays out.
Everything here is purely my opinion, and in no way advice or recommendations on making trades. I may or may not hold positions in the...
NASDAQ:STNE This is my first time doing chart patterns, but I think I am on to something here. We all know that STNE is a good long stock, but due to the recent bottom, it has been even more of a buy. If we look at the chart provided below, we can see that it almost fits the Pennant chart pattern. Im thinking once earnings comes, its gonna skyrocket all the way to...
As We know pennant pattern was break in H1, Potential correction until Fibo 61.8
EURJPY Short Selling
but enjoy the pips, Pros want to make money!
Looking for a breakout of the pennant to the upside and will long the position to its next major level of resistance. The Daily trend suggests that it if a breakout is to happen it will go long. Any advice and guidance will be appreciated as it's my first publish.
BITFINEX:EOSUSD forming a nice wedge on the H3 which might also fly as a bullish pennant. I'm not convinced its bullish but its nicely defined 3 RRR in both sides, so kinda to good to ignore.
Within the overall market situation, where everything is forming triangles, we might see some big moves again...
NFLX staged an excellent Christmas rally, but the steam got let out of the tires on their earnings call due to their cash burn. It seemed that everyone's favorite winner suddenly needed some reality to check in on its cash earnings. Fast forward nearly a month later, and fears of a recession are subsiding with the Nasdaq rising up over the 20 and 50 day averages...
A pennant triangle has formed indicating that price action will break out either above market price or below.
Seeing as gold is currently trading at market highs, the stall in price action suggests it is losing bullish momentum and could therefore break downwards towards precious Support.
Or as due to the longer term bullish trend line it could continue higher...
BTT starting to break out of its pennant pattern last night as per my previous/related post from 12 sats to 16 sats as of this posting; watch for it break resistance level of 16 sats and 17 sats setting ATH 18+ sats would be nice this weekend.
A huge pennant has been forming for the last 15 days and right now it's at the apex, a break out could be coming soon. As we all know PHX is one of those coins prone to huge pumps.
TP 1: 0.00000259
TP 2: 0.00000273
TP 3: 0.00000289
TP 4: 0.00000305
TP 4: 0.00000325
CryptoCue is not providing investment advice and is not taking...
After the recent ascending triangle break (visible on the daily) that caused a daily trend reversal, the CAD/CHF is getting closer to a potentially massive movement. When the pennant will be broken is hard to speculate, but know that within a year, many good trade opportunities will start appearing!
Natural gas is giving us an interesting trade signal, comes from an upward movement and is configured a bullish pennant, which is a continuation of trend signal!
Trade to the breaking of the pennant