Looks like a continuation pennant so this breakout I believe will mean move into a higher channel and then onwards and upwards. Watch for incursion back into the channel it's is currently in though - could stop you out if you're not aware of the risk.
Here you can see a clear image of a bearish rectangle, showing that the bearish trend halted and began to consolidate. It respected the rectangle perfectly for over 12 days without any large breakouts. As time moved on it was comfortably within the rectangle however at the same time was being squeezed into a bearish pennant. This was a case of waiting patiently to...
Keeping the TA simple but the geometry for a bull pennant lies there, will PIVX be taken to new heights against bitcoin or is that a rejection we see with a bearish pennant forming a funnel now?!? Given the buying pressure seen withing the bullish bursts I wouldn't expect so but only time will tell.
As I'm sure everyone's aware bitcoin has of lately shit itself, some could have called it before the fundamental onslaught it took earlier in the week through technical analysis like i did from $4680 in #Metalpays Telegram group whilst others are biting their nails struggling to get to sleep haha. Regardless off the INV Pennant geometry within the price action we...
I missed the position myself but here we can see a short Pennant/INV HVF on NEO/BITCOIN after a rejection bringing this pair back down for the end part of the trading week, concluding in another inverted set up projecting a target right next to our original set ups target possibly leading to over performance, will the targets be met?!? Let me know what you think...
This looks like a pennant formation as there were 2 wicks that were acting as support and momentum of the current movement is decreasing as well.
Place stop loss below nearest support line and price will be taken at the next resistance.
Factom/FCT looks like it's coming to the end of a long consolidation and is nearing a breakout. If this breaks to the upside we could see a major price movement comparable to recent breakouts like Monero/XMR and DASH. Much of what happens next depends on Bitcoin, but I expect possibly a short-term sell-off to the ~300k satoshi area to retest new structure support...
In theory this could be considered a falling wedge on a uptrend? So there for could be a decent long position to previous resistance.
Alternatively it could be seen as a pennant pattern. So therefore it could go short.
Any feedback appreciated :)
Bearish pennant formed indicating a continuation of the downtrend. This market is coming up to an area of resistance which should trigger some movement to the downside and make a new low. NFP later this week so hopefully out before that.
A good opportunity to get short, and also to "hedge" my NZDCAD long position.
Break of pennant to the downside, broken line as resistance together with structure.
Fibo 38.2 and 61.8 falls neatly together.
Inside a forming bullish pennant we find a opportunity to get long with retest of trendline/lower pennant line which should act as resistance, together with the completion of a Cypher-pattern.
I entered 0.95435 with target at 0.95633
Stop loss below previous support.