Building upon the analysis conducted yesterday, it is observed that NSE:FSL stock has successfully experienced a breakout upside from the Pennant pattern. Today's price action has confirmed the Pennant pattern breakout, signaling a continuation of the prevailing uptrend. The breakout is characterized by a decisive move above the upper trendline of the Pennant,...
Uptrend Observation:
The first notable aspect of NSE:FSL stock is the sustained uptrend it has displayed over a significant period. This bullish movement is characterized by higher highs and higher lows, indicating a strong buying interest in the market.
Identification of Pennant Pattern:
A Pennant is a technical analysis pattern that resembles a small...
IOTAUSDThad a false breakout from its daily resistance level and is currently consolidating below it.
The market is creating a pennant, which is a common technical chart pattern that can indicate a potential continuation or reversal of the current trend.
Traders who follow technical analysis may be watching for a breakout from the pennant pattern to signal the...
GRTUSDT is creating a pennant below the 4-hour resistance level, following a previous bull run.
A pennant is a technical chart pattern that is formed when the price moves within converging trendlines, forming a symmetrical triangle shape. The pattern is characterized by a sharp price move in either direction, followed by a consolidation phase where the price...
the price is creating a penannt below an important resistance at 0.066 weekly resistance.
The price bounced on the 0.5 Fibonacci level.
How to approach it?
IF the price is going to have a breakout from the pennant and weekly resistance and CONFIRM the weekly support, According to Plancton's strategy , we can set a nice order
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Keep in mind.
🟣 Purple...
The price is creating a pennant on the 4h timeframe. The market is creating higher low higher high, it means that the we are in consolidation phase.
Usually Pennant is a continuation pattern.
How to approach it?
We are monitoring the 19.5 support where the price created a equal lows. so if the price is going to have a breakout and retest this support as new...
Disclaimer: *This idea is based on the observation of the formation of the Pennant pattern, I could be wrong. Don't enter a trade based on this idea. Do your own research.*
Chart Pattern: Bullish Pennant Pattern
EMAs: 20 - 50 - 100 - 200
(TF - 4h)
Jswenergy formed a bullish pennant & is trading beautifully inside it & it looks its in the verge of breaking out of pennant because of good volumes in it.
Could be bought at mentioned price with stop loss & targets.
ENJBTC is testing the daily resistance inside a pennant. IF the price is going to have a breakout, According to Plancton's strategy (check our Academy ), we can set a nice order
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Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure...
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Luminar Technologies $LAZR seems to be bullish in the 4H timeframe.
I don't like what I draw in this chart (2 pennants in one 😄) but it could predict technically what's going to happen.
The price target might be between $45 and $63.
We will see...
Your comments are welcome.
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Legal disclaimer: I am not a financial advisor. The advice here given...
Gold(GC1!) closed at $1,725.8 today from an opening price of $1,686 for a $39.8(+2.36%) gain while tagging, and coming to a stop at, the upper line of the pennant formation in the process. The pennant is a bullish price formation with the expected outcome being a break above the upper line of the pennant formation and a push back up toward $1,800.
The Relative...
