The What vs. The Where - A 2nd Breakout Pattern After A Nice WinA few days ago we looked at a bullish breakout opportunity on Silver and it played out perfectly. After a lovely move to the upside, price has started to consolidate again providing us with a very similar setup.
HOWEVER, just as in the case of the first, we need to be aware that once again the WHAT doesn't necessarily align with the WHERE stopping this from being a Grade A trading opportunity.
Please leave any questions or comments below and remember to hit that LIKE button before you go!
Akil
Pennant
Small Clues In A Big Breakout PatternSilver has been consolidating as of late and if there's one thing we no about contraction is that it eventually leads to expansion aka a breakout.
The issue with this particular setup is that based on location of the pattern, there's no predetermined directional bias for the breakout.
Therefor, what we're doing today is looking for small clues that the market has provided to give us any type of edge in predicting a breakout one way or another and guess what. WE FOUND SOME!
If you have any questions or comments, please leave them below!
Akil
Educational Video: Nifty Outlook-How Technical analysis is done.We have tried to draw a parallel channel on Nifty hourly chart. The chart indicates that we are just below the mid channel line. The mid channel line will act as a resistance if the price is below the same and will act as a support if the price is above it. Right now it is acting as a resistance. Top of the channel always acts as a resistance and bottom of the channel always acts as a support. Additionally there are historic resistances and supports which indicate the other levels which may act as support or resistance. There are also Mother and Father lines (50 and 200 EMA)(EMA = Exponential Moving Average).
To understand in detail how parallel channel works or how supports and resistance are derived or what is Mother, Father and Small Child theory. I would recommend you my book The Happy Candles Way to Wealth creation. By reading this book you can understand all these concepts with ease. You can additionally understand what is fundamental and technical analysis and how to do it. You will also get to understand the dos and the don'ts of investment in equity by reading various chapters on Behavioural Finance. Overall it is a value for money book available on Amazon in Paperback and Kindle version. The book is also available on Google play book and other E-book stores. You can also contact us for getting the copy of it. The Happy Candles way is one of the highest rated books in the category and you can go through the reviews of the book on Amazon before purchasing it.
Based on Parallel Channel, Supports and Resistances, Mother Father and Small child theory resistances and supports of Nifty remain at.
Nifty Resistances Remain at: 24815, 24909, 24977, 25045 and 25116. The channel top resistance for the current parallel channel is around 25372.
Nifty Supports Remain at: 24780 (Mother Line Support), 24679 and 24537. The Channel Bottom support is currently around 24396. 24247 is the most important Father line support.
Shadow of the candles currently is neutral. Indicating Nifty can still go in any direction. A pennant like structure (Triangle is also formed). This indicates that Breakout or Breakdown of this triangle or pennant can take Nifty a long way on either side. Nifty is currently squeezing in the pennant with limited space. Usually when the space is limited a Breakout can happen in either direction.
Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock or index. The Techno-Funda analysis is based on data that is more than 3 months old. Supports and Resistances are determined by historic past peaks and Valley in the chart. Many other indicators and patterns like EMA, RSI, MACD, Volumes, Fibonacci, parallel channel etc. use historic data which is 3 months or older cyclical points. There is no guarantee they will work in future as markets are highly volatile and swings in prices are also due to macro and micro factors based on actions taken by the company as well as region and global events. Equity investment is subject to risks. I or my clients or family members might have positions in the stocks that we mention in our educational posts. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message. Do consult your investment advisor before taking any financial decisions. Stop losses should be an important part of any investment in equity.
The SECRET to BULLISH CHART PATTERNS | EducationBullish chart patterns play out towards the upside... atleast most of the time.
In some cases, a bullish pattern forms - seemingly strong- but ends up going the complete opposite direction. There is a way to navigate this very frustrating outcome - by waiting for confirmation.
Through waiting a little longer, you will surely reduce the profits - but this greatly reduces the risk of playing a "failed" pattern.
Keep a close eye on this bullish chart pattern forming on SUI:
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NASDAQ - Trading Complex Pullbacks & Pennant PatternsThis video will teach you how to trade complex pullbacks.
Concepts include: how to properly read a trend, breakout patterns, structure recognition & different entry techniques.
From the fundamental side, we also examine how recent economic events, such as the FOMC Interest Rate decision, US government shutdown threats, and the Santa Clause Rally, have affected the markets.
I wish you all a safe & happy holiday season!
Akil
SHIBA: Important Pattern - UP or DOWN? 👀👇📉Hi Traders, Investors and Speculators of Charts📈
We observe an important pattern on Shiba Inu - the Flag Pattern, also known as the Pennant. From here, ONE KEY THING will give away where the price is going next. Make sure you know what to look for and don't miss it!
Another altcoin to watch closely, is LTC where we recently saw a VERY bullish sign. Find it here:
If you found this content helpful, please remember to hit like and subscribe and never miss a moment in the markets.
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CryptoCheck
BINANCE:SHIBUSDT
KAS confluence of Pennant & Golden Ratio Fib Extension targets?KASPA uptrend seems to be holding, though a breakdown to 9.2 cent level is still possible. Using the power of wild speculation, the 1.618 fib extension of recent moves and apparent pennant breakout both seem to imply a possible future key level in the 24-25 cent zone.
ETH Flag Pattern: Quick Short then $2KHi Traders, Investors and Speculators of Charts📈📉
As you know, we're trading in the opening moments of a new bullish cycle. Often when quick increases happen, pullbacks and corrections are sure to follow, even during a bull market this is natural.
ETH formed a flag, and this gives the opportunity to take either a long or a short. Watch the video for a quick setup with conditions and an easy to understand explanation.
Remember, support and resistance zones are great to watch for possible long and short opportunities during brief pullbacks!
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BINANCE:ETHUSDT
GBPNZD - Triangle & Wedge Breakout TradeWe've got a triangle, wedge, pennant pattern forming here on the GBPNZD and in this video i want to show you how I use the anchored volume tool to project the levels that price is likely to go to once we breakout from the pattern.
If you have any questions or comments about the idea, or if you just want to share your own views, please leave it in the comment section below.
Akil
usdjpy to make a big decision todayIn the following video I've provided 3 scenarios in which I would look to take part in any trades. The first of which is quite simply a higher high will produce another higher high.
Both scenarios afterwards are reversals. If price throws indecision in the correct direction, it signals a reversal. The daily close today will suggest a lot at yesterday was relatively volatile.
Bitcoin price action update : Bearish pennantThis is another update about the bitcoin as the price action has been developing in another consolidation factor. During the development of the price action, we also see that the price is now forming another bearish scenario as the liquidation factor involved in this analysis.
Bitcoin's future with GDP day: Will the bulls or bears dominate?Bitcoin Performed both upside an downside sweep and now its trying to make its main move.
with the 3 leg strategy this should be a pump- lots of bull signs which I talked about in video
I also talked about my own bearish bias and why I think this is a jebait
Lots of liquidation cluster to the downside.
The Big H&S that Ive mentioned in 2 previous video is still in play
Thanks for watching
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GBPCAD Bullish Outlook and 2 Possible Scenarios
In this multi-time frame analysis, I go over the bullish outlook and forecast on GBPCAD.
I outlined the 2 possible scenarios of the price to wait for in order to confirm the next bullish up move.
Remember to clearly understand what forecasting is for to give you a better entry rather than blindly enter without any price action confirmations.
Higher time frame:
Massive Crash Incoming On BTC -Watch This To Not Get TrappedBTC\1H Doing a pennant which is a sign of continuation
With yesterday move performing a SL hunt and start to performing a pennant there which shows us there might be more down side to come.but it could also invalidate it by going up and taking all the liquiditiy around 22900 to 23400.
Todays Events will totally spice things up even more than yesterday
Dxy rising to 105 and holding it is a sign of Market getting weaker
Please Boost,Follow,Comment if you find this informative
Details on the video
Bitcoin Bullas wants to push it higher on Monthly Close!BTC/1H `at the bottom of rising broadening wedge Forming another pennant `
After Pumping into 23.9 yesterday btc gets rejected at a local support and starts to bleed and touches the bottom of the rising broadening wedge
The Rejection was heavier than the pump and price endedup consolidating near the bottom of the wedge indicating we might exit it again
Also today is **Monthly Close** if btc loses 23K and close below, depending on the momentum of the move we could consider it very bearish
Some liquidity Cluster to be taken at 24.6 which can cause bitcoin to legup again if it breaks above 24.7
Please Boost,Follow,Comment if you find it informative
Thanks for watching
Bitcoin Consolidating to go Lower AGAINBitcoin/1H Doing another Pennant
We are also in a down trend channel that I draw which everytime it reaches the end of the channel it makes a move.
Worth noticing when SPX was consolidating btc went to 25K now that spx started to move down btc coming down with it.
We could perform a fake pump and grab some liquidity before further downside.bearish momentun is just starting and we yet have to see bigger red candles ~13%
Please Follow,Comment,Boost if you find it informative.
Thanks for watching
Bitcoin Bleeding Started!More Pain To Come!Bitcoin/1H doing a pennant that is a sign of continuation ( maybe with a small up move ~24.2)
Please Follow,Boost,Commet it really motivates me to do more. REALLY DOES!!!!!
Bitcoin has been going down for couple of days , Bulls getting demolished on every RIP they push it. meaning smaller upsides bigger downside and with the pennant its doing it could come down to ~22.8 and hold this range for weekends.OR hit ~21.7 (over 4M liq cluster there) and then bounce back to ~22.8 holding that range again for weekends.
CVD is negative and Open Interest is going down indicates more sell pressure
Detailed Explanation on the video - Also the new mic is comin today
Thanks for watching
UNFIUSDT Ranges and Value Areas to Trade TodayBYBIT:UNFIUSDT BINANCE:UNFIUSDT
UNFI has been trading in a range for the last few days and I show you where to take potential trades.
This asset can be extremely volatile, so trade with caution, but if you find yourself in a move in the right direction, a quick scalp trade could turn into a beautiful swing trade!!
Not Financial Advice. DYOR. Papertrade before trading with real money.
If you liked this idea, please give it a thumbs up and follow. Comment on how you are trading BTC right now.
Safe trading!
Shawn
XAUUSD GOLD Technical Analysis (POTENTIAL BREAKOUT)-Bullish pennant daily chart pattern.
-Long term bullish in gold/commodities with inflation and with potential inflation rated.
-Buy low/Sell high.
-Potential stop loss hunt when the price gets more squeezed closer together. Normally a big explosive move to the upside comes from this.
-I could see a fake-out to the downside and trap a lot of traders then the big money takes the price to the upside.
Bitcoin: Potential drop coming?Am I seeing a Bearish Pennant? Has price brokent structure to the downside, and now retracing to supply?
I see the argument for upside, but I believe the PA is showing further declines are imminent.
I would love to get some feedback on this analysis. Share your opinion and your ideas for BTC in the comments section.
Thank you.
RISKY 10% DOUBLE TOPS TRADE ON THE EURO AUDThis analysis shows the main factors behind the Short Position opened on the EURO AUD. These include
1. The Formation of Double Tops on the Daily Chart.
2. The Formation of a Pennant Setup on the Daily Chart.
3. The expected move towards major Support within 3 Days.
4. The expected move towards the Pennant Support in 7 to 14 Days.
The market provided a strong Tweezer Top to indicate the start of U-Turn on the Daily Chart, which would lead to completion of the Double Tops Signal. Once completed, it will take us lower towards a short-term Support that can be used for our first target. Thereafter, we can wait until the market provides us with another setup to trade towards the Support Boundary of the large Pennant Consolidation.
Duane
Swing Trading Master
$BNOW - Another wedge. Watch for a breakout. Hourly - Bullish
Daily - Bullish
Weekly - Bullish
Looking good.