Like they say pennant flag patterns are the workhorses of the day trader.
Overall market performance
Break even failure rate for up/down breakouts: 2%; 4%
Average rise/decline: 25%; 19%
Throwback/pullback rate: 47%; 31%
Percentage meeting price target for up/down breakouts: 60%; 51%
Price trend Can be any direction leading to the chart pattern.
Shape Looks like a short symmetrical triangle, Prices move between two converging trendlines.
The flagpole which leads to the pennant should be unusually steep and last several days.
Volume trend Downward trend 88% of the time.
Breakout Upward 61% of the time.
more consolidation at the 0.786fib retracement level, as the oscilator(stochastic RSI) is fully bought which is currently inline with the little drop and range of price.
Technicals suggests that a high risk is triggered while buying at this current price, as the market is bearish.price will slight move to the bullish part when the oscilator has diverged.
SELL:0.0007000sats up to 0.0008864sats
STOP LOSS: 0.00036397sats
Disclaimer: This is for educational purposes,it is not intended as a financial advice.
The analyst won't be responsible for a loss of fund. Trader should be able to manage risk.