Bullish pennant for RML on TSX. Not confirmed yet. Mining industry has been on an uptrend for some time now. Pros: 1- PPS above 50MA and 200MA 2- RS above 0 and climbing 3- R/R ratio above 5 4- 5- 50MA above 200MA 6- Both 50MA and 200MA ascending 7- Golden cross circled in may 2023 8- ATR climbing, more volatility 9- Post formed with volume 10- Descending...
Looking at a bearish pennant, target at circle. Will the blood continue?
Bullish pennant for NILI on TSX. Not confirmed yet but metal for batteries is a hot topic right now. Pros: 1- PPS above 50MA and 200MA 2- RS above 0 and climbing 3- R/R ratio above 5 4- 250RSI above 50 and climbing 5- 50MA above 200MA 6- Both 50MA and 200MA ascending 7- Golden cross circled in blue 8- ATR climbing 9- Post formed with volume 10- Descending volume...
Hi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊 Bounced up from support area, price start to rise close support line and reached $1.1095 point. Also, Euro entered to pennant, but price started to decline and soon fell to area, thereby exiting from pennant. Later price broke support level and fell to support...
Hi guys, this is my overview for XRPUSDT, feel free to check it and write your feedback in comments👊 A few days ago price trades close suppot area $0.4190 - $0.4135 and later bounced up to resistance level. Also, Ripple entered to pennant, where it broke resistance level and then made correction to this level. Later price bounced up from support level and...
Larger Pattern - Triangle and Upside Risk NASDAQ:RUM In the making now for 5-6 months. Projects to ~$14.50 on a bullish resolution but would need to give it up to 6 months to achieve that level. Assuming this target is achieved then the overall downtrend line originating from the all-time high becomes the next technical target which is above $15 and declining...
Trade Idea: Buying Gold Reasoning: • Weekly – Potentially forming a Morning Doji Formation (Bullish) • Daily – Bullish engulfing candle yesterday (Bullish) • 4hr - Price action above downward trend resistance and Ichimoku cloud (Bullish) • 1hr – Forming Bullish Pennant (Bullish) Entry Level: 1964.745 Take Profit Level: 1983.725 Stop Loss:...
We can see price breaking out of a bearish pennant, resulting in a solid move down, retesting first, going down again and now going for a potential second retest of the previous support which now becomes resistance. Looking for continuation to the downside. Fundamental backup as the average analyst price target is 180$ a share which is about 20% lower than current prices
Hi guys, this is my overview for GBPUSD, feel free to check it and write your feedback in comments👊 When price broke support level and area, it declined to $1.2465 point and then bounced up to area. Next British Pound continued to decline inside from falling channel, where it broke $1.2395 level and fell to support line. But at once, price bounced up, made...
Hi guys, this is my overview for BTCUSDT, feel free to check it and write your feedback in comments👊 After price bounced down from resistance area, it entered to flat, where BTC declined below support level. Later, price tried to back up, but failed and made strong downward impulse to support line, thereby exiting from flat. Then BTC started to rise near...
Hi guys, this is my overview for USDCHF, feel free to check it and write your feedback in comments👊 Inside from rising channel price bounced from resistance level and fell to support line. Then Swiss Franc made upward impulse to resistance area, thereby breaking resistance level, and exited from channel. Next, price bounced down of resistance area, which...
Hero Motor is consolidating since Feb 21 and now it has given a Pennant / Bullish wedge breakout with good Volume. Hero is a market leader and consistently showed great growth on YOY basis. Still there is a significant upside left for the stock so in my opinion, one can do SIP in this stock without being worried for Stop loss simply because it has a great...
I had recommended Suzlon in Jan last year as chart of the week. Once can see a detailed analysis on the same page. Today again I'm recommending to buy Suzlon @ 11. One must understand that it is a well beaten stock, hence, it's a High risk trade and patience is required to earn profits. If you take this call, invest as per your risk appetite. CMP - 11 W...
Bearish pennant on the monthly has been in formation for some time now. I expect atom to retrace down to the $6-8 range.
This will be my personal trade Setup, This is not an advice of any kind to initiate trade according to this setup. This is for only for my learning purpose and maintaining my trading journal. So with gap up today and from days price action forming like pennant or bull flag. Breaking this pattern could give good move if price opens flat only. For trade...
Hi guys, this is my overview for XAUUSDT, feel free to check it and write your feedback in comments👊 When price bounced from resistance area which coincide with resistance level, it made downward impulse. Next, Ripple fell below two support levels and also entered to flat. After flat, price started to trade inside from pennant, where it reached resistance...
Very simple trading pattern forming in the direction of bigger picture trend. We will wait until we see a bullish correction on the smaller time frames before looking for an entry. Once this correction is complete we will then enter short as long as we think we can achieve a minimum of 1 to 3 risk reward on this particular trade.
Beautiful pictures: USDCAD triangle + triangle Weekly: triangle in formation Wave D is formed by ABC which is formed by a triangle