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Pennantpattern

Time To Buy Some New Shorts. VIX To Bounce Upward.VIX trading in a bullish pennant pattern. We have seen two really nice bullish bounces off the support trend line in this pennant pattern. I expect this next support line touch to be nothing different (assuming VIX touches support). VIX targets: 25.41 resistance first, then follow-through to 28.93, eventually reaching the top of the upper bound of the pennant pattern around the 33 area. With that in mind, I am beginning to load up on short positions and closing out some of my higher beta long positions. This is not trading advice. Good Luck!
TVC:VIXLong
by Gooby_Trades
4
$XXII 10~yr pennantThere's plenty of research that can be done on why I am fundamentally holding this long term. It's getting into zones I am comfortable adding to the position. There are outside forces that have kept this stock beaten down for many years as they are the major big tobacco killer, as a micro-cap. My outlook is that when the switch flips and tides turn, this stock can be explosive, and the 10 year pennant has big upside. Recent direct offering done at 2.05, currently 1.60. The long term equilibrium zone is roughly 1.40-1.70, I am a buyer, adding slowly here, and will continue to add sub 1.30. The last year and a half the stock has been trading in a downward channel. Looking at previous 1-2 year periods, there are larger scale macro patterns that tend to form and play out. Recent progress and development of their company key driving force in VLN, has become more and more a reality. Despite the company being in a great position after years of the rigorous FDA process, it's the final stretch for them as their product is now on shelves. Pair that with being on the lower end of the range here, with earnings coming up and an update on their pilot program, I am adding to the long holds. Roughly 7 years I've been following this company closely, swing trading it up and down. The recent direct offering with warrants gave investors the opportunity to short, but I believe it will be a short-lived downturn. The time horizon is 12 months for a macro reversal here to break the channel.
NASDAQ:XXIILong
by Cheesy-Bean_and_Rice-Burrito
1
BTCUSDT is creating a PennantThe price retested exactly the 19k as I told you in my previous analysis and now the price got a rejection from the 20k static resistance and dynamic resistance (0.618 Fibonacci level) and the market failed to create a new Higher High. How to approach it? The price could grab new liquidity from 21k area and create a new bearish impulse below the 19k, so If According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
Short
by InkyGrip
6
THETAUSDT ready for the breakout?The price is in the accumulation phase between two daily structures, 1$ and 1.4$. On the 4h timeframe, the price is creating a pennant and had the market had a false breakout from the channel on 1.5$, it got the liquidity in order to retest the support. How to approach it? The price needs to create a new breakout from the daily resistance and 4h resistance. it needs to retest the 4h resistance as new support, According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
Long
by InkyGrip
4
Long-term View for EthereumETH is currently attempting to distribute into a bottom. Looking at history as a guide, I found that it broke out massively into a pennant after basing during its 2015-2016 time period. After consolidating from 2016-2017, it broke out once again- rallying a whopping 23,000% in a year. Notice that this major breakout occurred when the price found support right at the 2015-2016 base's prior resistance. Fast forward to today, I find that we're in a technically similar situation. We've witnessed a sizeable basing period from 2018-2021 with a breakout that proceeded into a pennant currently being constructed. I believe we'll bottom entirely when we touch the 2018-2021 base's initial resistance, showing the completed pennant (around $1500). It just so happens that the merge to ETH 2.0 is rumored to occur during August, right where I assume the completion of the pennant will occur. GLTA!
BITSTAMP:ETHUSDLong
by ClargyInvesting
TOMOUSDT is inside a pennant 👀The price is creating a pennant above the Weekly support of 0.51$, in that area, the market created a demand zone (0.48$) so the price could grab new liquidity from it. How to approach? IF the price is going to lose the 4h support on 0.54$, According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
TShort
by InkyGrip
8
UNIUSDT is going to retest the daily support?The price is creating a pennant on the key level after a clear rejection from the 8.8$ area. and retested the 0.618 Fibonacci level as new resistance How to approach? IF the price is going to have a breakout from the pennant and retest the key level as new resistance, According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
Short
by InkyGrip
10
AXSUSDT is creating a pennantThe price is creating a pennant on the 4h timeframe. The market is creating higher low higher high, it means that the we are in consolidation phase. Usually Pennant is a continuation pattern. How to approach it? We are monitoring the 19.5 support where the price created a equal lows. so if the price is going to have a breakout and retest this support as new resistance, According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
Short
by InkyGrip
4
GBPUSD | Live position review | Follow-up detailsWith over 180 pips profit (3 positions) since the last publication of this pair (see link below for reference purposes); An ambiguous scenario we have here as participants appear to have fallen into an indecision phase right under the 1.259 area (which is serving as our key level at this juncture in the market) - forming a pennant (trend continuation) structure. However, a breakout of the bearish trendline (identified in the 1H timeframe) and key level might incite the beginning of a retracement wave into the golden zone identified in the video. Let's keep our fingers crossed and watch what happens in the next couple of hours! Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
6
AUDJPY | New perspectiveDespite the obvious that the AUDJPY remains on the front foot around 92.55, extending the two-day uptrend; I am of the opinion that the current structure might incite a short term bearish move soon. Why? If we closely into the structure on the daily time frame, we will notice a reversal structure evolving since the price tested 95.5 area. The appearance of a lower high on the daily timeframe and multiple rejections of 92.5 level is tending toward a bearish bias. Let's see what happens in the next couple of hours! Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
USO: Bullish PennantThis is a lower conviction play as the one can argue that the pennant did not enter a consolidation and is part of the continued upward trend however, I would argue that since pennants are continuation patterns with representing a "brief" consolidation, magnitude of the entry (into the pattern) should not matter. But entering from the bottom, we saw some profit taking on the first spike up (that formed the height of the pennant and we will probably see some reloading through out the pattern. In crude oil futures, we saw a lot of profit taking by speculators at the top of this range (as by COT). I think structurally (fundamentally) crude oil needs another 25% leg up anyway to be fairly priced (assuming conflict remains but doesn't escalate, and producers don't go back online). 1) The short term news of 1 million released daily from the SPR is nothing (versus the 20 million we consume daily). 2) We are also entering spring/summer/fall where oil is more heavily consumed; on top of an end of COVID lock downs (doesn't seem like we will be doing that anymore even in blue states). 3) With high inflation (houses and physical goods) I can see consumer preferences change from stuff to experiences, ie traveling. Even oil is relatively high to its spot price, inflation adjusted its significantly lower than its last peak - there is probably another spike left to go up. I think the risk-reward is worth it to buy at the bottom of this channel before we continue heading higher to at least PT of ~96. A position is merited here to be added on the upward breakout if supported by a strong volume bar. I think the downside argument could be made that instead of a pennant this is a longer-term (beginning of) distribution pattern, evident by a selling climax. However, if that's the case USO will have some support by the current positive carry of crude oil giving some positive return (or cushion to ~3-4% monthly) while consolidating in the range. If discovered there is a longer term distribution pattern on the way - I can probably exit at flat.
AMEX:USOLong
by quantitativetendies
2
$CINT is building a base you can't ignore and here's why!* Was building out a cup an handle pattern * Was due to break above $19 but due to the current market conditions it pulled back * Since then $CINT has been in a range that's getting tighter and tighter * Currently it's forming a pennant pattern * The price has to break out of this pennant by May 11th, 2022 either to the up side or to the down side * Just yesterday it printed a pocket pivot which is a sign of institutional accumulation * Now's a great time to start accumulating as the consolidation's getting tighter * You can manage risk just under the base of the pennant or around the $14.82 area * Currently showing tonnes of strength and a high UD Ratio of 1.95 tells that it's being accumulated right now. Outlook: * Start accumulating * If it breaks out of the pennant wait for a clean close above $19 to add more to your initial position * Cut losses quickly as this can go south pretty fast should it break below the pennant. Technicals: * Sector: Technology - Software - Infrastructure * Relative Strength vs. Sector: 3.54 * Relative Strength vs. SP500: 9.35 * U/D Ratio: 1.95 * Base Depth: 105.1% * Distance from breakout buy point: -21.2% * Volume 179.83% above its 15 day avg.
NYSE:CINTLong
by HaseebKhan_90