Purple lines - pennant
Yellow lines - support / bear targets
Green lines - Resistance / bull targets
Whitelines - Weekly channel
Trading in a pennant... Now the question is this , is the pennant bearish or bullish?
Formation of pennant that start from the top Like pypl did with its earnings tank usually means a bearish scenario.
Bullish indicators - All of my oscillators (OBV,RSI,MFI,MACD) are all curving upwards. Selling pressure has also eased. Now i think a catalyst is all what is needed for a possible breakout. Remember the good ole days when BTC moved 2k and pypl moved double digits? lol.
Entry for short - 272.50
Entry for long - 276.50
Stop loss- trailing 20%
Yellow lines - support / bear targets
Green lines - Resistance / bull targets
Whitelines - Weekly channel
Trading in a pennant... Now the question is this , is the pennant bearish or bullish?
Formation of pennant that start from the top Like pypl did with its earnings tank usually means a bearish scenario.
Bullish indicators - All of my oscillators (OBV,RSI,MFI,MACD) are all curving upwards. Selling pressure has also eased. Now i think a catalyst is all what is needed for a possible breakout. Remember the good ole days when BTC moved 2k and pypl moved double digits? lol.
Entry for short - 272.50
Entry for long - 276.50
Stop loss- trailing 20%
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