Bullish Pennant created in EURNZD.
HH and HL shows a quick uptrend before pattern start being made.
Four touches between TL, so pattern is valid. Less than 21 days also.
We look for a bullish breakout, as pattern is bullish and daily trend also.
After the breakout, we see a re-test and entered position in the next candle (moment I saw the breakout). Its a...
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.
- Pennant chart pattern formed indicating a bullish continuation of trend.
- Wait for confirmation candle
- On the W1 timeframe price is respecting the 61.8% level
- H1 timeframe is showing an uptrend and price retraced within the pennant.
- We are looking for price to break outside of the pennant and retest it before entering the trade
BTCUSD
Bitcoin's bottom to top increase in February was approximately 96% and was 55% in April/May (ratio approx. 1.7:1). In early April Bitcoin found strong support in the low-mid $6000 region forming what looked like a traditional bear pennant but eventually broke the upside with relatively confident momentum. We now...
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Litecoin reacted positevly on a new that it can become a fork - right now we can see a Bullish Pennant Formation with projected MPO -0.35% near 300.
Litecoin declined into our projected important support as expected and turned just like BTC -2.92% and ETH, so it’s
first evidence that correction is...
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...
