Bullish Pennant Breakout in Gold MCX
📊 Pattern Overview:
A Bullish Pennant pattern has formed after a strong upward move, signaling a potential continuation of the trend. The pattern is characterized by converging trendlines during consolidation, followed by a breakout to the upside.
📈 Strategy Setup:
Pattern: Bullish Pennant
Breakout Confirmation: Price closing above pennant resistance line
Entry Zone: Near breakout candle close
Target (T1): ₹125,635
Stop Loss (SL): ₹118,682
Risk–Reward Ratio: Approximately 1:2
📊 Indicator Confluence:
T-K Cross: Bullish Cross
Price vs Kijun: Bullish
Cloud Trend: Up
VWMA: Up
RSI: Up
VWAP: Up
SuperTrend: Down (short-term resistance, to be monitored)
🧠 Trading Logic:
The Bullish Pennant indicates a temporary consolidation within an existing uptrend. A confirmed breakout with indicator support (Ichimoku, RSI, VWMA, and VWAP in alignment) strengthens the bullish momentum. Traders may look for sustained candles above the upper trendline with volume confirmation.
⚠️ Disclaimer:
This content is shared for educational purposes only and does not constitute investment or trading advice. Market conditions can change rapidly — always conduct your own analysis and use proper risk management before making any trading decisions.
📊 Pattern Overview:
A Bullish Pennant pattern has formed after a strong upward move, signaling a potential continuation of the trend. The pattern is characterized by converging trendlines during consolidation, followed by a breakout to the upside.
📈 Strategy Setup:
Pattern: Bullish Pennant
Breakout Confirmation: Price closing above pennant resistance line
Entry Zone: Near breakout candle close
Target (T1): ₹125,635
Stop Loss (SL): ₹118,682
Risk–Reward Ratio: Approximately 1:2
📊 Indicator Confluence:
T-K Cross: Bullish Cross
Price vs Kijun: Bullish
Cloud Trend: Up
VWMA: Up
RSI: Up
VWAP: Up
SuperTrend: Down (short-term resistance, to be monitored)
🧠 Trading Logic:
The Bullish Pennant indicates a temporary consolidation within an existing uptrend. A confirmed breakout with indicator support (Ichimoku, RSI, VWMA, and VWAP in alignment) strengthens the bullish momentum. Traders may look for sustained candles above the upper trendline with volume confirmation.
⚠️ Disclaimer:
This content is shared for educational purposes only and does not constitute investment or trading advice. Market conditions can change rapidly — always conduct your own analysis and use proper risk management before making any trading decisions.
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Wyłączenie odpowiedzialności
Informacje i publikacje przygotowane przez TradingView lub jego użytkowników, prezentowane na tej stronie, nie stanowią rekomendacji ani porad handlowych, inwestycyjnych i finansowych i nie powinny być w ten sposób traktowane ani wykorzystywane. Więcej informacji na ten temat znajdziesz w naszym Regulaminie.