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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.
XRPUSD | W1 | BULLISH
The market is currently at an important key level,
Ripple is one of our favourite coins due to it’s practicality; it’s functionality and appliance to today’s society with implementation in financial institutions – catalysing, and offering a more efficient network to transact money.
At the same time this is a very simple...
simplicity is key! very simple setup on GOLD, we are overextended and since having touched the daily resistance we have formed a pennant. We are looking to break to the downside & have confirmation with a 4hr close outside the pennant. Initial targets are set at the 23.6 retracement level followed by the 1260 level.
A bullish pennant has started to form after a significant bullish move in price. This bullish pennant is showing the strength that is needed from the price to break this very strong resistance level, there is a very high chance that the price would make substantial gains in an upward direction once it breaks out the bullish pennant and the resistance zone.
I am new to this so please don't take this as advice.
Looking at XRPUSD for a while, I bought a long time ago during the FOMO stage, looking to get back in and lower cost per coin average.
The daily chart appears to show a Bull Pennant has formed, the daily RSI has reset as has the 1hr RSI. It appears a long overdue increase to me, I have measured the most...
My initial thoughts are that this is a bearish pennant, looking for the long-term break to the downside.
However it is possible that there has already been a break to the topside (so maybe it's a descending triangle). The open of the Sydney session and price action through monday will aid to clarify whether it will be a long or short position.
LONG: With the...
GBPMXN (weekly) chart is showing some interesting features, which lead me to be long on lower time frames.
There is some sort of triangle, wedge, or pennant following breakout.
The pattern is holding above a level of support (at this time).
Based on experience, this creates a probability for further moves north.
The Aroon is showing that the bulls are still...
Consilidation shown in the triangle with higher lows and even lower highs.
Current support level has been broken before: awaiting for confirmation of bounce or breakout.
MA7 has crossed over MA20, suggests possible breakout for a short position.
Also, ADX signalling a not so strong trend, strengthining the consilidation view.
Imminent pennant formation break out coming back on trend line support. Get on it!
If break out goes long you can see my SL/TP on the chart, SL on previous low and TP target on the high of the pennant. But could go either way. I am going to wait to see how it plays out before making a decision.
Good luck if you take the trade
I have been tracking a bearish pennant on XBTUSD for a number of days and it has just crossed the 3/4 duration marker, which means that it is likely to resolve soon. We are currently trapped below the 0.382 fib and even if we break into it again then we're rapidly running out of space in the pennant; it will resolve (one way or the other) by 2nd Feb. This pattern...