A descending triangle may be forming, the price has stayed predominantly towards the top of this triangle but due to other factors (current downtrend, ABCD pattern) I believe there will be a break to the bottom.
This is a pennant and represents a pullback from the highs around 1550.
It's testing the pattern's boundary and might break out to resume the uptrend which started in June.
PS: Stochastic has further to go so an upside breakout is more probable.
BTC After an impulse + 39% A pennant pattern is formed. Behind the trend is an upward pennant . Behind the shape of the canvas is a downward pennant . The shape of the canvas resembles a wedge . Not to be confused with a downward pennant according to the trend! These are the exact opposite formations! The pennant canvas is formed above the downtrend line. The...
Bullflag on the weekly, Stochastic RSI fully corrected and upwards momentum to start picking up soon, Long above 11300-11500
Contrary to my previous long idea for gbpusd, as the impulse down outweighs any signs of pushes to the upside. I believe it's more likely to see a bearish continuation as price seems to lock into this restricted pennant. This would suggest price is exhausting before continuing.
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The shares have completed a...
I apologise to the bears!! LOL. My technical analysis informs me that the bullish move that is obvious to everybody, indicates that $10,000 is the next probable way point. No predictions - no guarantees. Price could easily collapse however. So don't blame me if it does!
NZDUSD has been travelling in a descending channel for quite some time now, until last week when it broke out of the channel to the upside, We are expecting price to come back down to retest the channel before making its way up to 0.66800 region.