A pennant is a technical pattern in financial markets that is formed after a strong price move and is characterized by converging trend lines, creating a triangular shape. It is a continuation pattern, meaning it signals a potential continuation of the prior trend once a breakout occurs.
In the case of ALICEUSDT, the recent bounce from the daily support and the testing of resistance inside a pennant suggest that the market is in a period of consolidation. We are waiting for a potential breakout from the pennant to confirm the continuation of the prior trend. Upon a successful breakout, Plancton's rules can be applied to make informed trading decisions. The next target for the price could be the next daily resistance, around 2.2$, so According to Plancton's strategy, we can set a nice order
–––––
Keep in mind.
–––––
Follow the Shrimp 🦐
In the case of ALICEUSDT, the recent bounce from the daily support and the testing of resistance inside a pennant suggest that the market is in a period of consolidation. We are waiting for a potential breakout from the pennant to confirm the continuation of the prior trend. Upon a successful breakout, Plancton's rules can be applied to make informed trading decisions. The next target for the price could be the next daily resistance, around 2.2$, so 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.
- ⚫️ black structure -> <= 1h structure.
–––––
Follow the Shrimp 🦐
Nota
16%
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.