Hitting new recent highs breaking out of a pennant consolidationCRO seems prime for another leg up. After a few days of strong upside it’s running into resistance on the weekly chart, but even though it is at a current high, not all-time I’ll add, CRO still has significant upside potential .
CRO is consolidating strongly after breaking out of a pennant consolidation - on all charts 4-hour and under it can be seen, you will not see it on the daily. The resistance it encounters now traces back to November 2021 through April 2022 — on the weekly its more easily seen.
I am not an investment adviser, and this is NOT investment advice. Crypto is very volatile and you could lose your shirt if you listen to what I’m saying or think I’m advising you to buy. However, since transparency is key, after taking a nice profit yesterday doing an 1-hour trade, and then deeper analysis I’ve personally invested $$$ tens of thousands at this level based on my analysis of the trend continuation.
DO NOT BUY CRO unless you are prepared to lose money. I have a much higher risk tolerance than most and this could be a dangerous, losing trade, but I do feel it will be a real nice win today . If you follow me and my advice and you lose, it’s your fault not mine. Oh also, if you buy and it starts going up, the minute you get that feeling “I’m going to be rich”… SELL right away and take your damn profit!
DDP 👊🏼👊🏼☝🏼🙏🏼 
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Gold coils beneath record high, bulls on alertWhether you call it a bull pennant or an ascending triangle, it’s hard to ignore the coiling in gold beneath the April record highs, keeping traders on alert for a potential bullish breakout.
The latest bounce off uptrend support, fuelled by Jerome Powell’s dovish pivot at Jackson Hole, has gold within reach of downtrend resistance from those highs, sitting near $3390 this week.
A break of the uptrend, especially if matched by a push beyond the $3408 May peak, could draw in fresh bulls targeting a retest of April’s $3500 record. Longs could be established on the break, with stops beneath the downtrend or $3408 depending on entry level. Resistance at $3435 remains an early hurdle, with gold stalling above it on four prior occasions. If the mid-June high near $3450 gives way, there’s little technically blocking a run towards $3500 or beyond.
While weekly RSI (14) and MACD hint at waning momentum, the overall signal still marginally favours the topside.
Good luck!
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Bitcoin will bounce from buyer zone and start to growHello traders, I want share with you my opinion about Bitcoin. The broader market context for Bitcoin has been one of prolonged and volatile consolidation, with price action largely contained between two dominant control zones: a major seller zone capping rallies near 120000 and a foundational buyer zone providing strong support around 112000. After the most recent rejection from the upper boundary, the asset has undergone a significant downward correction, which has taken the shape of a smaller descending triangle. Currently, the price has reached a critical inflection point, as it is testing the apex of this triangle directly at the major horizontal support level of 112000. The primary working hypothesis is a long scenario, which anticipates that the strong historical demand within the buyer zone will absorb the recent selling pressure and initiate a powerful rebound. This rebound is expected to be strong enough to cause a breakout from the descending triangle, signaling a shift in short-term momentum. The scenario further anticipates a brief retest of the broken triangle's resistance line from above to confirm it as new support. Following a successful retest, the path would be clear for a continued rally. Therefore, the tp for this move is logically placed at the 117000 level. Please share this idea with your friends and click Boost 🚀
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Bitcoin may bounce up of support line and break resistance levelHello traders, I want share with you my opinion about Bitcoin. Following a powerful upward trend and a significant breakout, bitcoin has established a new and higher territory for its price action, leading into the current phase of extensive consolidation. This consolidation has taken the form of a large upward pennant, a classic pattern of contracting volatility where the price is being squeezed between a descending resistance line and an ascending support line. The market has been rotating within these boundaries, with the seller zone around the 120000 resistance level capping rallies and the dynamic support line providing a floor for pullbacks. Currently, the asset is positioned at a critical juncture, testing the ascending support line of this multi-week formation after a corrective move down. The primary working hypothesis is a long scenario, based on the expectation of a successful upward rebound from this dynamic support. A confirmed bounce would validate the integrity of the pennant and suggest that another full rotation to the upside is the most probable path. This move would first challenge the horizontal resistance at 120000. Therefore, the ultimate TP for this rotational play is logically set at the 123700 level, as this precisely targets the upper resistance line of the pennant, representing the completion of the swing and a key decision point for a potential future breakout. Please share this idea with your friends and click Boost 🚀
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Ripple will continue to grow in wedge and break resistance levelHello traders, I want share with you my opinion about Ripple. The price action for Ripple has been methodically developing within the confines of a large upward wedge. This pattern has defined its strong upward trend since the last major rebound from the buyer zone around 2.7425. This structure has guided the asset higher through a series of corrections and upward rebounds, showcasing a sustained campaign by buyers. Currently, the price is at a critical juncture, consolidating directly below the significant horizontal resistance level at 3.3255. This level, which is also a major seller zone, has previously capped rallies and represents the most immediate obstacle to a continuation of the uptrend. The primary working hypothesis is a long scenario, based on the expectation of a decisive breakout above this resistance. Such a breakout would signify that buyers have absorbed the available supply and are ready to push the market to a new high. The scenario anticipates that following the initial break, the price will perform a corrective retest of the 3.3255 level, treating the former resistance as new support. A confirmed bounce from this retest would validate the breakout and provide the impetus for the next impulsive wave higher. Therefore, the TP for this continuation move is logically placed at the 3.5760 level, which aligns perfectly with the upper resistance line of the entire upward wedge formation. Please share this idea with your friends and click Boost 🚀
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Triangles, Flags, and Pennants — Guide to Continuation PatternsChart patterns can be mysterious — until they’re not. Let’s break down the technical trio that tells you when a trend’s just taking a breather before it flexes again.
So your chart’s been pumping higher for weeks, and then… nothing. Price starts scribbling sideways. Cue panic? Maybe. But more likely, you’re staring at a continuation pattern.
Triangles, flags, and pennants are the subtle “hold my beer before I try to pull a move” signals of technical analysis. They show up when markets pause — not reverse. That pause could mean your trend is catching its breath, not dying in a ditch.
In other words: don’t close your longs just because things go quiet. Sometimes the market is just stretching before it sprints again.
⚠️ Symmetrical, Ascending, Descending
Let’s talk triangles, the Swiss Army knife of consolidation. These shapes come in three stylish varieties:
● Symmetrical triangle: Higher lows, lower highs. Traders call this the indecision pattern, but don’t get it twisted — it may just be winding up for a breakout. Wanna see how these look in practice? Dive into our community’s symmetrical triangle ideas .
● Ascending triangle: Flat top, rising bottom. Buyers are aggressive, their patience is running out. Resistance looks like it’s begging to be broken. Check the ascending triangle ideas for your viewing consideration.
● Descending triangle: Flat bottom, falling top. This one’s more bearish than your boomer uncle who knows zero about Bitcoin BITSTAMP:BTCUSD , and yes — it’s often a precursor to a breakdown. Follow the descending triangle ideas and make sure you DYOR.
Key tip : Wait for the breakout. Don’t front-run triangles unless you like volatility surprises and emotional damage.
🚩 Flags: Fast Moves, Tight Consolidations
Flags form after a sharp price move — the “flagpole” — followed by a tight, slightly sloping channel that moves against the prevailing trend. They’re short-term patterns that act like pit stops during a race.
● In a bull flag, price rallies sharply, then consolidates lower in a downward-sloping rectangle. If price breaks above the upper boundary, the uptrend is likely to resume. Jump straight into the bullish flag ideas .
● In a bear flag, price crashes, then drifts higher or sideways, forming an upward-sloping consolidation. A breakdown below the lower support hints at a continuation lower. What goes up must go down — bearish flag ideas for thought.
Flags are prized for their reliability and tight risk-to-reward setups. The breakout is typically swift, and traders often use the length of the flagpole as a projected target.
🎏 Meet the Pennant: The Flag’s Cousin
Pennants are like mini-triangles that form after a strong price move, usually in high-volume conditions. Unlike regular triangles, they’re smaller and more compressed — a tight consolidation in the shape of a tiny symmetrical triangle.
What makes a pennant different from a flag? The structure. While flags are rectangular, pennants are more pointed — a converging pattern rather than parallel lines.
Pennants are often seen in high-momentum environments, and when price breaks out of the consolidation zone, it often does so with force. Get some pennant ideas straight from our community.
🧐 How to Actually Trade These Patterns
Spotting a continuation pattern is one thing. Trading it with discipline is another.
Here’s a basic checklist:
● Identify the trend. Continuation patterns only work when there’s a clear preceding move. If the chart is a sideways mess, maybe skip it.
● Draw your levels. Use trendlines or horizontal support/resistance to outline the pattern. Keep it clean — if you’re forcing a pattern, it probably isn’t there.
● Wait for the breakout. Don’t jump in too early. Let the price confirm your bias. Breakouts are more credible with a volume spike.
● Set your stop wisely. Most traders place stops just outside the opposite side of the pattern — below the lower trendline in an uptrend, or above the upper trendline in a downtrend.
● Target projection. Many use the height of the pattern or the flagpole to estimate a target price, though market conditions should influence your approach.
🤔 So, What Could Go Wrong?
Glad you asked. Plenty.
● Fakeouts: Just because it looks like a breakout doesn’t mean it’s real. Wait for confirmation — volume, a close outside the pattern, or your favorite indicator giving the green light.
● Shaky patterns: Not every triangle-looking pattern is a triangle. Sometimes it’s just noise. Don’t make up patterns. The market doesn’t care about your geometry.
● Overleveraging: Continuation patterns look reliable, but no pattern is bulletproof. Position sizing still matters. Don’t bet the farm because a pennant gave you butterflies.
💡 Pro Tips from the Chart Trenches
● Set alerts on trendline breaks so you’re not glued to the screen like a caffeinated hawk.
● Use pattern recognition tools if you’re a newer trader — but verify manually. No software is a crystal ball.
● Trade continuation patterns in the direction of the trend. Countertrend flags are usually bear traps in disguise.
📌 One Last Thing: Pattern ≠ Prediction
Chart patterns don’t tell the future. They tell a story about buyer and seller behavior. Continuation patterns? They’re just the market saying, “Yeah, we’re still into this trend. Just grabbing some break first.”
Use them as one part of a system. Combine them with momentum indicators, volume, or good ol’ fashioned risk management.
Because in the end, it’s not about how many triangles you find — it’s about how many fakeouts you avoid.
Off to you : Spotted any textbook triangles or sneaky flags this week? Or caught a pennant fakeout that wrecked your stop loss?
Drop your best (or worst) continuation pattern story below. You never know who might learn something from your chart scars. Bitcoin will rebound from resistance line and then continue fallHello traders, I want share with you my opinion about Bitcoin. After looking at the chart, we can see how the price entered an upward pennant and then at once rebounded up from the support line. Then it reached support level, which coincided with the buyer zone, and some time traded near this level, after which it made a small correction. Later it grew higher to 107800 level, breaking it and then made a retest. After this movement, BTC made an impulse up from the support level and rose to the current support level, which coincided with the support area and soon broke it. Later, it BTC rose to the resistance line of the pennant and then made a correction to the support area and started to trades inside. But later it made a fake breakout of the current support level and then tried to back up, but failed and dropped to the support line of support line of upward pennant. Then BTC turned around and started to grow, and soon broke the 116500 level one more time. After this, it reached the resistance line of the pennant, and it turned around and started to decline. In my mind, BTC will grow to the resistance line and then continue to decline 116500 support level. That's why it's my current TP. Please share this idea with your friends and click Boost 🚀
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Pennant — Trend Is Your Best Friend 🚩 Pennant — Trend Is Your Best Friend 📈
drive.google.com
🔍 Introduction
The Pennant is a trend continuation pattern, resembling a small triangle that forms after a strong initial move (known as the “flagpole”). It is similar to the Flag pattern, but with one key difference: the body of the Pennant is formed by two converging trendlines, rather than parallel ones.
📐 Pattern Description
The Pennant forms after a strong, impulsive price move, indicating that the trend is likely to continue after a short pause.
Like the Flag, the Pennant consists of two main components:
The flagpole — a sharp, directional move (either bullish or bearish)
The Pennant body — a brief consolidation shaped like a symmetrical triangle 🔺
🟢 A bullish pennant forms after a strong upward move
🔴 A bearish pennant follows a strong downward move
🧠 Market psychology behind the pattern:
After a big move, many traders expect a reversal and begin taking counter-trend positions. But when the breakout occurs in the direction of the original trend, it triggers a wave of new orders, pushing price even further. That’s why the Pennant is often used to enter trades in the direction of the dominant trend.
📉 Volume behavior is also key:
High volume during the initial move
Low volume during the Pennant’s consolidation
Rising volume on the breakout
This volume pattern reflects renewed trader interest and often leads to a more explosive breakout compared to a Flag, due to the tightening nature of the consolidation.
⚠️ A weak or sloppy move before the Pennant weakens the signal and increases the risk of false breakouts.
🎯 Entry & Stop-Loss Strategy
📥 Entry: After a confirmed breakout above the Pennant’s resistance (or below it for bearish setups)
🛑 Stop-loss: Placed just below the last local low before breakout
💰 Profit Target:
Partial take profit at the top of the flagpole
Full target = the height of the flagpole projected from the breakout point (aka the Measured Move)
Always account for key support/resistance levels to define the potential range
💡 The Pennant often offers great risk/reward due to its tight structure and explosive potential.
💡 My Pro Tips for Trading Pennants
✅ Pennant Pattern Criteria
Trend continuation pattern
A strong, nearly vertical move preceding the Pennant
Triangle-shaped consolidation (two converging lines)
The Pennant body must be shorter than the flagpole
The lowest point of the Pennant should not exceed half the length of the flagpole
Breakouts should happen in the direction of the initial trend
Tight range before breakout increases accuracy
📈 What Strengthens the Signal
Sharp, clean, directional initial move (strong flagpole) ⚡
High volume on the initial move, and volume surge on breakout 💥
⚠️ What Weakens the Signal
Choppy or weak price action before the Pennant 🫤
Lack of volume during the flagpole or breakout 💤
✅ Examples of My Winning Pennant Setups
🔗 EURUSD Bearish Pennant — Ready to Drop
❌ Examples of My Losing Setups
🔗 XAUUSD Bullish Pennant — Failed Follow-through
💬 Do You Trade Pennants?
They’re one of the most powerful continuation patterns when paired with clean price action and volume confirmation. What’s your experience with Pennants? Share your wins — and fails — below 👇👇
