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Pennantbreakout

The What vs. The Where - A 2nd Breakout Pattern After A Nice WinA few days ago we looked at a bullish breakout opportunity on Silver and it played out perfectly. After a lovely move to the upside, price has started to consolidate again providing us with a very similar setup. HOWEVER, just as in the case of the first, we need to be aware that once again the WHAT doesn't necessarily align with the WHERE stopping this from being a Grade A trading opportunity. Please leave any questions or comments below and remember to hit that LIKE button before you go! Akil
OANDA:XAGUSDLong
by Akil_Stokes
2
Small Clues In A Big Breakout PatternSilver has been consolidating as of late and if there's one thing we no about contraction is that it eventually leads to expansion aka a breakout. The issue with this particular setup is that based on location of the pattern, there's no predetermined directional bias for the breakout. Therefor, what we're doing today is looking for small clues that the market has provided to give us any type of edge in predicting a breakout one way or another and guess what. WE FOUND SOME! If you have any questions or comments, please leave them below! Akil
OANDA:XAGUSDLong
by Akil_Stokes
Is There Hope for Sandbox ($SAND) or Is The Gameverse Dead?The Decline of NYSE:SAND : A Look at Its Current State Once a shining star in the play-to-earn (P2E) gaming and NFT ecosystem, Sandbox ( NYSE:SAND ) has seen a staggering decline from its all-time high of $8.44 to a mere $0.34 at the time of writing. This sharp drop has left investors and gamers questioning the future of metaverse gaming and the sustainability of blockchain-based virtual worlds. Despite recent hype around Web3 gaming and metaverse adoption, the broader NFT and P2E sectors have remained relatively muted, contributing to NYSE:SAND ’s price drop. However, does this spell the end for The Sandbox, or is a reversal on the horizon? Technical Analysis The Relative Strength Index (RSI) currently sits at 23, indicating that NYSE:SAND is in heavily oversold territory. Typically, an RSI below 30 suggests that an asset is due for a rebound, as selling pressure diminishes. The daily chart is forming a rising wedge pattern, which is a traditionally bearish formation. If the pattern holds, further declines could be expected. However, the $0.39 pivot zone is a critical resistance level. Should NYSE:SAND manage to break above this level, it could spark a campaign towards the $1 mark, a move that would be monumental for the token. Currently, NYSE:SAND is down 7.27% on the day, with a 14% decline over the last 24 hours. The lack of bullish momentum suggests that investors remain hesitant about a potential comeback. However, if volume spikes and momentum shifts, a short-term recovery could be on the table. Market Data & Sentiment - Current Price: $0.3487 - 24-Hour Trading Volume: $113.85 million - Market Cap: $859.36 million - Circulating Supply: 2.46 billion NYSE:SAND Despite the downturn, The Sandbox maintains a top-100 ranking in the crypto market, proving that it still holds relevance. The challenge now is for the platform to reignite user interest and expand beyond its current stagnation. The Road Ahead: Dead or Dormant? While the NFT and metaverse hype has faded, it doesn’t necessarily mean the sector is dead. Innovation, adoption, and strategic partnerships could breathe life back into NYSE:SAND and other metaverse tokens.
Long
by DEXWireNews
2
Microstrategy - Might Break Lower Chart Pattern - Lower Crypto?Micro-strategy is currently hovering around the lower breakout point of the current Pennant or Triangle chart pattern. If this is not a fake out, it could signal lower prices to come for crypto's across the board. If it holds, I expect it to move to the upper area of the pennant or triangle and if it breaks, we will see newer ATH for BTC and other Alt Coins. BTC and the other major Alt Coins are all holding just above chart patterns that signal lower prices to come, so I expect lower prices, but with this lower volume during the holidays, manipulation is very possible from smart money and the market makers. Trade carefully.
NASDAQ:MSTRShort
by swineninety9
Ethereum (ETH) Bullish Pennant AlertEthereum continues to show a bullish setup with a long-term bullish pennant pattern forming on the chart. Based on Fibonacci extension levels, we can project both conservative and aggressive price targets, with the potential for a blow-off top around $20,000, aligning with the 200% Fibonacci retracement level. Key Technical Highlights: Pattern: Bullish Pennant (Continuation Pattern) Current Price: ~$2.2k-$2.3k Fibonacci Extension Levels: 1.272 Extension: $7-$7.5k 1.414 Extension: $7.5-$9.3k 1.618 Extension: $10k- GETTEX:13K 200% Retracement: $20,000 (Potential blow-off top target) Why this setup is promising: Bullish Pennant: Ethereum’s price consolidation within this pattern suggests a bullish continuation, with Fibonacci levels offering reliable price targets. Strong Fundamentals: Increasing on-chain activity, network upgrades, and growing institutional interest support the potential for higher price action. Volume Contraction: Volume has been contracting during the consolidation, a common precursor to a breakout. Strategy: Entry: Consider entering on a confirmed breakout above $2.7k with strong volume. Stop Loss: Below $2k for risk management. Disclaimer: This is not financial advice. Always conduct your own research before making investment decisions.
COINBASE:ETHUSDLong
by STP_MrNodeItAll
BTC - FINALLY - Bullish BREAKOUT? For the last few months, I've been preaching patience as we saw a multi-month correction play out, all as a part of the bigger-picture Elliot Wave playout. The charts are looking positive after some bullish action started showing up from yesterday. I'd be ready to say the corrective phase is finally over and we're starting the new impulse wave up IF Bitcoin can keep above this support level highlighted on the chart, around $63k. This would validate a successful Flag-Breakout / Pennant breakout pattern. However, if we close a daily UNDER this key support zone - it's likely that we're not there just yet. I'm still of the opinion we'll be on our way towards a new ATH close to December, as BTC loves Decembers historically. ______________________________ BINANCE:BTCUSDT
COINBASE:BTCUSDLong
by Crypto-Check-
Sell AUDCAD Pennant BreakoutThe AUD/CAD pair on the M30 timeframe presents a potential selling opportunity due to a recent downward breakout from a well-defined Bearish Pennant pattern. This suggests a shift in momentum towards the downside in the coming Hours. Key Points: Sell Entry: Consider entering a short position around the current price of 0.9200, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum. Target Levels: 1st Support – 0.9172 2nd Support – 0.9152 Stop-Loss: To manage risk, place a stop-loss order above 0.9230. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards. Thank you.
Short
by KABHI_TA_TRADING
2
|| SOLUSD || $200 INCOMMING FOR SOL!! ||Good day all. the current market structure for sol is preping itself for a break out of the above level of key resistance (displayed in yellow). I will be discussing a series of confluences in the following points below to strengthen my case. Sol has been in a consolidation phase roughly since April, creating a healthy level of support and resistance for future market structure, considering the consolidation being so close to ATH ($260) is remarkable and normally a great indication of further continuation into price discovery. Bullish pennant: market structure for the past couple months have formed a bullish pennant. Price has reached a pivotal point of a potential break resulting in a target of $227 which is roughly a 43% increase in value, however, there is still some way to go as price is sitting right under a key level of resistance expressed between the prices, 173 and 178. If price is able to break this key level and hold strongly above preferably on the daily chart, bullish sentiment will be high. I do feel price will break and briefly retrace off the level of resistance only to build up stronger support resulting in a push up and most probably through. This price action will be the healthiest and the most likely, as referenced from multiple market structures in a similar situation. MA: My preferred averages consist of a 18 and 100 EMA, my averages position is currently crossing from bearish to bullish as my averages have converged (18 crossing 100). this convergence is normally a bullish signal when compiled with other bullish confluences. Although my predictions for the medium term is bullish, there is absolutely a possibility that price can retrace back down to the key level of support resulting in a further strengthening of the current formation and overall heath of the market and future structure, however, I feel the break to the bulls is inevitable based on the overall bullish sentiment across the whole board of crypto assets. I do not offer financial advice and this position should not be used as your only means of placing a trade, however, rather as an extension of your preexisitng ideas to place a trade. Thank you for putting time in to read my Sol prediction. Make sure to let me know what you think whether you agree or not, constructive criticism will be appreciated!
COINBASE:SOLUSDLong
by Crisp_Flow
2
Sell CAD/JPY Breakout PatternThe CAD/JPY pair on the M30 timeframe presents a Potential Selling Opportunity due to a recent breakout from a Bearish Pennant Pattern. This suggests a shift in momentum towards the downside in the coming hours. Possible Short Trade: Entry: Consider Entering A Short Position Below the Broken Trendline Of The Pattern After Confirmation. Ideally, This Would Be Around 115.70 Target Levels: 1st Support – 114.65 2nd Support – 114.12 Stop-Loss: To manage risk, place a stop-loss order above 116.10. This helps limit potential losses if the price falls back unexpectedly. Thank you.
Short
by KABHI_TA_TRADING
10
XAUUSD | GOLDSPOT | New perspective | follow-up detail [8 - 12]The gold price just hit a one-month high, and the Fed's next move is on everyone's mind! The June US Nonfarm Payrolls (NFP) report showed a stronger-than-expected jobs gain, but revisions to previous months hinted at a cooling labor market. 📉 While average hourly earnings stayed flat month-over-month, they declined year-over-year, adding to concerns about economic growth. All eyes are on the Fed: The recent string of weak economic data has increased expectations for an interest rate cut by September. The CME FedWatch tool shows the probability of a rate cut has jumped to 72%! 🚀 But it's not just the US economy driving gold's gains: The ongoing conflicts in the Middle East and Ukraine, along with the BRICS bloc's push for de-dollarization, are boosting demand for gold as a safe haven asset. 🛡️ This video breaks down the key market forces shaping gold's price, and how I'm using historical data on the charts and the economic calendar to plan my trading strategy this week. This analysis is crucial for understanding the current market trends and making informed decisions. XAUUSD Technical Overview: In this video, we take a detailed look at the XAUUSD chart, combining both technical and fundamental perspectives. Our attention is still fixed on the key level at $2,350 for the upcoming week, historically significant and poised to steer trading dynamics. A sustained momentum above this mark could fuel further buying interest, potentially paving the way for fresh highs. Conversely, a bearish tilt below $2,350 might signal a resurgence of bearish sentiment. Join me as we break down these factors and explore potential trading opportunities in the gold market. Don't forget to like, subscribe, and hit the notification bell to stay updated with my latest analysis and insights. #Gold #GoldPrice #Fed #InterestRates #MarketAnalysis #Trading #EconomicCalendar #Geopolitics #BRICS #DeDollarization📺🔔💼 Disclaimer Notice: Trading in the foreign exchange market and other instruments carries high risk and may not be suitable for all investors. The content provided here is for educational purposes only. Evaluate your financial situation and consult with a financial advisor before making any investment decisions. Past performance is not indicative of future results.
OANDA:XAUUSD
by darcsherry
1
XAUUSD CONSOLIDATION BREAKPair: XAUUSD Timeframe: 1H Analysis: Round number level, trend line, volume profile , support and resistance, pennant pattern, consolidation ————— Key Takeaway: For a full day we have seen the pair consolidate between 2332.8-2326.5 and we havent managed to break either levels. When the pair does we are either looking for a short or long trade depending on the confirmation of breakout (bullish or bearish). Once it does break out either way, we will look to take profits toward the top pennent resistance or bottom pennant pattern support trend line. ————— Level needed: need a close above 2332.8 or a close below 2326.5 ————— Trade: NEUTRAL RISK:REWARD 1:6 SL: — TP: — ————— DO NOT ENTER OUR SETUPS WITHOUT CONFIRMATION
OANDA:XAUUSD
by TheGoldRoom
Sell USD/CHF Bearish PennantThe USD/CHF pair on the M30 timeframe presents a potential selling opportunity due to a recent downward breakout from a well-defined Bearish Pennant pattern. This suggests a shift in momentum towards the downside in the coming Hours. Key Points: Sell Entry: Consider entering a short position around the current price of 0.8915, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum. Target Levels: 1st Support – 0.8862 2nd Support – 0.8825 Stop-Loss: To manage risk, place a stop-loss order above 0.8970. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards. Thank you.
Short
by KABHI_TA_TRADING
9
TRENT has a pennant pattern for an upward momentum upto 10%TRENT has been seen on a pennant chart pattern and is on the verge of a good breakout on daily TF after almost a consolidation of almost 2 months. The company has increased institutional investing, a good 50% and above increase in sales QoQ growth for the last 3 quarters and EPS growth of 40% to 100% in the last quarter. Good for swing traders. Can hold for about 10-15 days. Entry - INR 4080 (Kept in WL, will wait for breakout with good volume.) SL - (Swing Low) - 5% TSL - According to your risk profile post 10% Disclaimer: Please be advised that the information provided is not intended as financial advice. It is imperative to conduct thorough research before making any investment or trading decisions.
NSE:TRENTLong
by Rokdevildivine
Sell XAUUSD Bearish PennantThe XAU/USD pair (spot gold) on the M30 timeframe presents a potential shorting opportunity due to the presence of a bearish flag pattern following a strong downward move. Potential Short Trade : Entry: Consider entering a short position (selling) below the broken support trendline of the flag after confirmation. Ideally, this would be around 2330 or lower if the price continues to decline. Target Levels: 2272: This represents the height of the flag, measured from the flagpole (initial downtrend) to the top of the flag, projected downwards from the breakout point. 2240: This is a further extension of the downside target, based on the height of the flagpole. Stop-Loss: Once the entry point is confirmed, place a stop-loss order above the broken support line of the flag, ideally with some buffer around 2340. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards. Thank you.
OANDA:XAUUSDShort
by KABHI_TA_TRADING
3
Upward momentum of 10% -15% in IOC expected on BOSIOC has seen a consolidation on DTF (bullish pennant) after almost a consolidation of more than 60 days. Confirmation to be given on break of structure. The company has a upwards of 500% increase in EPS QoQ growth for the last 3 quarters and increase in institutional interest. Good for swing traders. Can expect an upward momentum of a min of 10-15%. Targets plotted on the chart. Entry - INR 175 SL - (DL) TSL - According to your risk profile. Disclaimer: Please be advised that the information provided is not intended as financial advice. It is imperative to conduct thorough research before making any investment or trading decisions.
NSE:IOCLong
by Rokdevildivine