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S&P 500 Technical Analysis Ascending Triangle vs Rising Wedge I've identified two potential patterns on the S&P 500 SP:SPX chart: Ascending Triangle (blue trendlines): Higher lows and flat highs, with breakout potential above the flat top or a breakdown below the higher lows. Indicated by blue arrows. Rising Wedge Developing (red trend lines and arrows): Higher highs and higher lows, with a potential bearish breakout below the lower trend line or a less common bullish breakout above the upper trend line. Red arrows highlight the touch points on the rising wedge pattern. Pattern Rules: For a valid pattern, the following rules apply: Ascending Triangle: At least two higher lows Flat highs Decreasing volume Breakout above the flat top or breakdown below the higher lows Rising Wedge: At least three touch points on each trend line (I will use as few as 2) Higher highs and higher lows Decreasing volume Breakout below the lower trend line or above the upper trend line (less common) Quick Review for Beginners: New to chart patterns? Here's a quick rundown: Higher lows: A series of lows that are higher than the previous ones. Flat highs: A series of highs that are roughly the same level. Decreasing volume: The trading volume decreases as the pattern forms. Breakout: When the price moves above or below the pattern's boundary. Trend lines: Lines drawn to connect the highs or lows of a pattern. Keep in mind that chart patterns are not a guarantee of future price movements, but rather a tool to help identify potential trends and trading opportunities.
SP:SPXLong
by Paul_Hodls
$OM Bullish pennantBINANCE:OMUSDT is currently doing a bullish pennant pattern after an explosive move from 1.67 area. A break of this pennant could send BINANCE:OMUSDT price parabolically to around 6.40 - 6.80 area, measured using the length of the pole in confluence with 2.618 fib level. In a typical retrace on a continuation move towards the upside, volume tends to dry out, signalling that a move may be due sooner than later. In futures, BINANCE:OMUSDT.P O/I continue to hover around $14M which is a good sign given the sentiment of the market towards premium RWA projects, with a positive L/S ratio. On the flipside, a break of the lower level will only continue the current ranging move of BINANCE:OMUSDT towards 3.30 - 3.50 area. Given that the market is still focusing on BTC, BINANCE:OMUSDT will continue to move in a laggard fashion, therefore there is still time to find a long entry near 3.55 - 3.63 area. Once money shifts towards alts, this will propel BINANCE:OMUSDT to new ATHs. As always, manage your risks. GL! - JD
Long
by The_Bro_Analysis
1
Getting closer and closer to the bullflag targetsTwo of the biggest patterns bitcoin has broken upwards from this year are both bull flags and they both have a bullish confluence measured move breakout target of around $99,999. The first one that’s been forming the longest from we actually broke upwards from all the way back n February or March, and here is what it looks like: it was all the way back then I knew we would eventually reach this target and it’s extremely satisfying to click play and watch price action go directly to the target. You can see the price target for that one shown at the chart on the top of this page at the top of the dotted purple line. The other big bull flag of this year we only just recently broke upwards from in October, and it has also had beautiful priceaction unfold perfectly shown here: Clicking play on this chart also is amazing to watch it seemingly go up and hit the exact target with the dotted red line acting as a magnet. That same dotted red line can be seen on the chart image above on this current chart idea. Even though on both of those charts it looks like we have already hit the exact target, when you zoom n on the daily time frame here you can see that we came within a whisker of hitting the $99999 target but still have only gotten just below it. IN the process recently we have been consolidating in a rising wedge (as indicated by the diagonal pink trendline) and a rising channel (the ascending red trendline + the dotted red trendline). The rising wedge also can qualify as a bullish pennant and when you factor in the pink flagpole to where price has broken above the top trendline of the wedge, the measured move target for a breakout of such a pennant is around $116k. Rising wedges default mode is to break down instead of up, but in a parabolic bull phase many of them can consecutively break upwards, I do believe at the very least price action will finally reach both the dotted red and dotted purple targets. However, since that was the full target for two of the most pivotal bullish chart patterns of the year that may actually be a good time for it to make a solid correction. We also have the psychological resistance of 100k where many people would likely take profit at which could add to the liklihood of a correction in that range. Usually once price gets this close to a psychological level it tends to hit it so it would not surprise me at all if we hit 100k before the correction, there’s also a chance we could hit the little pennants 16k breakout target before the correction too but if we correct right after 100k, right after the 115-116k target zone, or just above that at the next big resistance area around 120-130k which is the top green trendline of this series of channels on the log chart: My belief is the correction will go down to fill the gap that was created in the CME bitcoin futures chart shown here: . I think it could likely retest that zone right around the 1day 50ma (in orange) rises up to meet that zone. My goal is to wait for a pullback back around there or back to the neckline (in yellow) of the big cup and handle we broke up from just recently, I will look for those levels as potential zones to make any additional entries into the market. The cup and handle has been by far the absolute biggest chart pattern of the entire year, however the channel of the red bullflag is also the handle of the cup and handle. Will be interesting to see how much of the above plays out how I anticipate it will. *not financial advice*
BITSTAMP:BTCUSD
by DrDovetail
SPY Ascending Triangle pattern AND Rising WedgeAMEX:SPY Printing a nice ascending triangle pattern along a rising wedge. Could go either way as marked out but considering last weeks action the time for the rally of santa is here as we head into the day of the great Turkey. Some fat wall street bankers have to cover and generate returns they keep pushing people out of positions just to buy them up. Very likely we set a new ATH on SPY this week. We just as easily could reverse as rising wedges tend to be bearish signals.
AMEX:SPYLong
by Paul_Hodls
Northwest Bancshares Inc. | Chart & Forecast SummaryKey Indicators On Trade Set Up In General 1. Push Set Up 2. Range Set up 3. Break & Retest Set Up Notes On Session # Northwest Bancshares Inc. - Triangle Structure | Support & Resistance - Pennant=0 | Structure On Hold - Double Formation * Double Bottom | Awaiting Target Active Sessions On Relevant Range & Elemented Probabilities; London(Upwards) - NYC(Downwards) Conclusion | Trade Plan Execution & Risk Management On Demand; Overall Consensus | Buy
CAPITALCOM:NWBILong
by TradePolitics
Btc currently retesting top trendline of rising wedge/pennantIt now has 3 consecutive candles above the rising wedge on the daily chart. Should the retest maintain support the breakout target for the entire pennant is 117k. Should the top trendline of the wedge lose support the wedge could still potentially breakdown, in which case we could then see bitcoin correct further to try and fill this gap on the CME BItcon futures chart before resuming the uptrend —-> For now probability favors the break upward until we lose the top trendline of the wedge/pennant as support. Jim Cramer announcing he’s bullish on bitcoin could easily cause enough downside to change that probability though. *not financial advice*
BITSTAMP:BTCUSD
by DrDovetail
Crowdstrike Holdings, Inc. | Chart & Forecast SummaryKey Indicators On Trade Set Up In General 1. Push Set Up 2. Range Set up 3. Break & Retest Set Up Notes On Session # Crowdstrike Holdings, Inc. - Entry Bias Hypothesis | Double Formation * Pennant Structure | Wedge Structure - 012345 | 0&1 | Continuation Bias * Double Bottom | Triple Formation(Demand=0) Active Sessions On Relevant Range & Elemented Probabilities; London(Upwards) - NYC(Downwards) Conclusion | Trade Plan Execution & Risk Management On Demand; Overall Consensus | Buy
NASDAQ:CRWDLong
by TradePolitics
Will Dogecoin's Price Soar Again with a 36,000% Rally in 2021?## Dogecoin's Next Bull Run: A Technical Analysis Dogecoin (DOGE), the cryptocurrency that began as a joke, has shown remarkable resilience and growth over the years. After a meteoric rise in 2021, DOGE experienced a significant correction. However, recent technical analysis suggests that the coin may be poised for another substantial rally. **The Pennant Formation** A pennant formation is a bullish technical pattern that often precedes a significant price breakout. It's characterized by a period of consolidation within a narrowing price range, followed by a sharp upward movement. Technical analysts believe that Dogecoin has formed a pennant pattern on its chart. This pattern, combined with other bullish indicators, suggests that DOGE could be ready to break out and potentially retest its all-time high or even surpass it. **Factors Fueling Dogecoin's Potential Rally** Several factors could contribute to Dogecoin's potential rally: 1. **Elon Musk's Influence:** Elon Musk, the CEO of Tesla and SpaceX, has been a vocal supporter of Dogecoin. His tweets and endorsements have often led to significant price surges. Any positive news or actions related to Dogecoin from Musk could trigger a buying frenzy. 2. **Memecoin Mania:** Dogecoin, as one of the original memecoins, benefits from the overall popularity of memecoins. The recent success of other memecoins has renewed interest in Dogecoin and could drive its price higher. 3. **Growing Community and Adoption:** The Dogecoin community continues to grow, with increasing numbers of people using the coin for transactions and tipping. As adoption grows, so does the demand for Dogecoin. 4. **Exchange Listings and Institutional Interest:** More and more cryptocurrency exchanges are listing Dogecoin, making it easier for investors to buy and sell the coin. Additionally, some institutional investors have expressed interest in Dogecoin, which could further fuel its price appreciation. **Potential Risks and Challenges** While the technical analysis and bullish sentiment are promising, it's important to acknowledge the risks and challenges associated with investing in cryptocurrencies: 1. **Market Volatility:** The cryptocurrency market is highly volatile, and Dogecoin's price can fluctuate significantly in a short period. 2. **Regulatory Uncertainty:** Regulatory uncertainty can impact the price of cryptocurrencies. Changes in regulations can create volatility and uncertainty in the market. 3. **Competition from Other Memecoins:** The emergence of new memecoins could divert attention and investment away from Dogecoin. 4. **Technical Issues:** Technical issues with the Dogecoin network could negatively impact its performance and price. **Conclusion** Dogecoin's potential for a significant price rally is fueled by a combination of technical analysis, strong community support, and the influence of key figures like Elon Musk. However, it's crucial to approach any investment in Dogecoin with caution and a long-term perspective. As with any investment, it's essential to conduct thorough research and consider consulting with a financial advisor.
Long
by bryandowningqln
AMN Healthcare Services, Inc. | Chart & Forecast SummaryKey Indicators On Trade Set Up In General 1. Push Set Up 2. Range Set up 3. Break & Retest Set Up Notes On Session # AMN Healthcare Services, Inc. - Entry Bias 1 & Entry Bias 2 | Multiple Pattern Mark Up - Triangle Structure | Rectangle Subdivision | Downtrend Continuation - Pennant Structure | Awaiting Target - 12345 | Support=0 & Wave 3&4 | Failed Target Active Sessions On Relevant Range & Elemented Probabilities; London(Upwards) - NYC(Downwards) Conclusion | Trade Plan Execution & Risk Management On Demand; Overall Consensus | Sell
CAPITALCOM:AMNShort
by TradePolitics
Bitcoin can exit from pennant and rise to new ATH (98K points)Hello traders, I want share with you my opinion about Bitcoin. By observing the chart, we can see that the price rose from 75750 points to 81000 points and then made a little correction. After this, the price made a strong impulse up to the 87700 support level. Also then price started to trades inside the pennant, where it later broke the 87700 level and then tried to grow more, but failed and some time traded between this level. Then BTC bounced from the buyer zone and rose to the resistance line of the pennant, after which at once turned around and made a correction back to the buyer zone. Next, prices not long time traded in this area and later continued to move up inside the pennant. Soon, the price reached the support line of this pattern, and continued to move up near this line and some time later BTC rebounded from this line to the resistance line. A not long time ago, the price turned around and made a small correction, after which in a short time, it backed up. At the moment, the price trades near the resistance line of the pennant. So, I think that BTC can fall to the support line and then rebound up higher than the resistance line, thereby exiting from the pennant pattern. Also, I expect that then price will continue to grow, therefore I set my TP at 98K points. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
8
APT Long Sl -12.2%APT Long Setup Reason: Bullish Pennant has been observed. Resistance level has been already Broken. Before this big move, expecting liquidity to be grab and also retesting the support level. Fibonacci level yet to be test near the support area LTF Suggesting bearish move for short term, overall structure is still bullish. We will wait for all possible liquidity to be taken first from the market then will enter. Best Regards, Crypto Panda BINANCE:APTUSDT BYBIT:APTUSDT.P KUCOIN:APTUSDT MEXC:APTUSDT
Long
by The_cryptopanda
Measured move for DOGE? Or more crabbing/fakeouts?The more I look over the DOGE charts, the more of a DOGE bull I become! This looks like it's winding up very nicely into a bull pendant- a much more predictable bull pendant than any of the weird crap the BTC perps chart keeps throwing out. It's almost like there are government/enterprise traders who know exactly how far they need to dither each candle to shake out retail traders, just in time for more ETF news... I'm liking DOGE a lot more.
CRYPTO:DOGEUSDLong
by mineyourbiz
Bearish Continuation with Potential Reversal!OANDA:XAUUSD 4H Chart Current Price: 2563.200 Descending Channel: A bearish pattern where price moves between two downward-sloping parallel trendlines, with the upper trendline acting as resistance and the lower trendline as support. This indicates sellers are in control, pushing the price lower with each rally. Bearish Continuation Pennant: A chart pattern that forms after a sharp decline, followed by a small symmetrical triangle. It indicates a pause in the downtrend before the price continues lower, with sellers in control. A breakout to the downside confirms the continuation of the bearish trend. RSI Bullish Divergence: RSI Bullish Divergence occurs when the price forms lower lows, but the Relative Strength Index (RSI) forms higher lows. This indicates a weakening downtrend and suggests that the bearish momentum is slowing, potentially signaling a reversal to the upside. Key Levels: • Strong Pivot: 2578.125 • Ultimate Support: 2500.00 • Major Resistance: 2656.379 Outlook: After analysing, we can see that the price has been rejected multiple times from Strong Pivot at 2578.125, and has formed a Bearish Continuation pattern. Since the RSI is below the 50 line, it is still considered bearish territory, so the price is most likely to drop to the Ultimate Support (psychological level). Then, we expect the RSI Bullish Divergence to show its effect and push the price back to the Strong Pivot (2578.125). After a breakout of this level, we expect the price to reach the Major Resistance at 2656.379. Happy Trading
OANDA:XAUUSD
by SpicyPips
1
XRP/USDT: Bull Pennant Signals Big Moves Ahead!!Hey everyone! If you’re enjoying this analysis, don’t forget to hit that 👍 and follow for more updates—it keeps the momentum going! 🔥 XRP is Building Momentum! 🔥 The charts are lighting up as XRP forms a bullish pennant on the 1-hour time frame, signaling a potentially explosive move. It’s currently trading within the pennant, offering a prime accumulation zone for those ready to ride the wave. 🎯 Trade Setup: 📌 Entry Range: CMP and add more up to $1.02 📌 Targets: 100%-120% gains 🚀 📌 Stop-Loss: $0.99 📌 Leverage: 2x-3x (Low risk, high reward) This setup screams bullish momentum for XRP, with the potential for major gains ahead! 💬 What’s your take on XRP’s setup? Drop your insights and analysis in the comments below, and let’s capitalize on this opportunity together!
Long
by CoreCrypto1
Updated Ascending Triangle!I wanted to update everyone following the TA on GME. It looks like yesterday's sideways movement has widened the Ascending Triangle on the 1-hour chart, which was expected due to the Cup & Handle formation on the daily chart. This sideways movement has now set up the handle on the daily chart and makes for a much larger breakout than anticipated. Here's the latest development: Along with the widening of the hourly Ascending Triangle, the 4-hour pennant breakout has now formed a second small pennant, which also makes up the handle for the Cup on the daily chart. Additionally, GME is still in the middle of a Bull Flag breakout on the Weekly chart, on top of a Golden Cross! Here's the current breakdown: 1-hour chart: Ascending Triangle 4-hour chart: (New)Bull Pennant Daily chart: Cup & Handle Weekly chart: Bull Flag + Golden Cross I've never seen a setup quite like this before. The breakout across all timeframes is going to be something special for sure. I'm just counting down the days until these patterns breakout across all timeframes. For those following this for the first time, here's some exciting historical context: The last time GME had a Golden Cross on the weekly chart was back in January 2021, and GME saw a 12,000% move in just 183 trading days. Don't blink—we are right around the corner from history in the making! ✌️
NYSE:GMELong
by impossiblebull
1
Bitcoin can exit from pennant, after which starts to declineHello traders, I want share with you my opinion about Bitcoin. By observing the chart, we can see that the price rose inside the upward channel, where it soon reached the buyer zone, which coincided with the support level. Later, BTC broke this level and rose to the resistance line of the channel, but then it turned around and made a correction movement to the buyer zone. In this area, the price rebounded from the support line of the channel and started to grow, so, in a short time it broke the 68800 level again and then exited from the upward channel. Next, BTC continued to move up inside the upward pennant, reaching the support line and rebounding higher. Later, the price reached the current support level (86600) which coincided with the support area, and soon broke this level, after which rose to to resistance line of the pennant. Then it made a correction movement to the support area, after which turned around and rose back to the resistance line of the pennant. Now, the price continues to trades near this line and I think that BTC can exit from this pattern and little grow more. After this, the price can turn around and start to decline to the 86600 support level. Please share this idea with your friends and click Boost 🚀
Short
by LegionQ8
10
NioCorp Developments Ltd. | Chart & Forecast SummaryKey Indicators on Trade Set Up in General 1. Push Set Up 2. Range Set up 3. Break & Retest Set Up Notes On Session # NioCorp Developments Ltd. - Rectangle | Hypothesis Entry Bias - Double Bottom | Secondary Range Entry - Pennant Structure | Invalid Target - Retracement 1&2 - Awaiting Target | Rectangle Hypothesis Active Sessions on Relevant Range & Elemented Probabilities; London(Upwards) - NYC(Downwards) Conclusion | Trade Plan Execution & Risk Management on Demand; Overall Consensus | Neutral
NASDAQ:NBShort
by TradePolitics
Euro can exit from pennant and rise to 1.0700 pointsHello traders, I want share with you my opinion about Euro. Observing the chart, we can see how the price some days ago entered to range, where it at once fell to the resistance level, which coincided with the bottom part of the range. Then price bounced and in a short time rose to the top part of the range and some time traded near, after which it turned around and started to decline. In a short time price broke the 1.1005 resistance level, exited from range, and continued to decline inside the downward pennant. In this pattern, the EUR reached its current resistance level, which coincided with the seller zone, and then started to grow. Price rose to the resistance line and then made impulse down. Euro broke the 1.0760 level, but tried to back and failed, after which continued to decline to support line of the downward pennant. When the price reached this line it a not long time ago rebounded and now, I think that the Euro can exit from the pennant, make a retest or not, and continue to move up. For this case, I set my TP close current resistance level, at 1.0700 points. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
12