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Gold Giant Pennant "Giant Pennant" sounds funny, but that is exactly what Gold finds itself in. A giant contracting pennant pattern. The nice thing about these patterns is which ever way they conclude they move to approximately the length of the widest range of the pattern. The bad thing about these patterns is that no one can really know how they will conclude. The ending is often marked by many fake outs, leading both buyers and sellers to mistake which way the pattern will conclude. If the markets can stay strong and oil continue its push to 93, then we can reason 1. there will be highly likely a bearish fake out dipping below the bottom of the pennant bottom. 2. We can estimate the price target at around 2110. 3. IF on the other hand the market remain weak this will likely do the opposite and fake out the bulls and conclude down to a target of 1541. We only need patience and let this play out and with more certainty we can profit from what wil likely be a very strong move in either direction
COMEX_MINI:MGC1!
by Sinex
1
BINANCE COIN EASY + PROFITABLE SETUP.So, what you all actually see is a Descending Triangle Pattern formed in Binance Coin. A descending triangle is a part of the 3 famous triangle patterns, namely:- Ascending, Descending, Symmetrical. All these patterns are some way or another part of Price Action Trading. In this case the upper trend line indicates lower highs and the bottom line indicates equal lows(~). And eventually, price breaks the pattern and a Bearish Breakdown occurs.(Keeping in mind that the break may vary in the other two patterns). After the price took a little support, it went back up and retested the previous support which is generally when most of the traders prefer to enter and make a position, as it's the safest entry possible in the given circumstances. With that being said... Happy Trading !!!
BINANCE:BNBUSDShort
by Fobstar
Simple PRICE ACTION Setup In LUNA.One of the simplest setups a trader would fancy is like such, didn't really take long enough to find this setup but this was personally what I usually look for, whether looking in Equities or Cryptocurrencies. Let me emphasize on the fact that how ideal this setup was for many traders including myself and also reconsidering that you don't find such easy setups everyday. With that being said, I'm not sure if there's anything much to explain about in this setup. Happy Trading !!!
Short
by Fobstar