This pennant has a strong probability to generate a directional move, 15-20% in either direction. Wait for breakout and trade accordingly. Make sure to stay flexible and reverse the position if a headfake occurs.
Generally speaking, pennants usually continue the previous trend, and so a downwards breakout should be given a higher probability of occurring.
Generally speaking, pennants usually continue the previous trend, and so a downwards breakout should be given a higher probability of occurring.
Comment:
Headfake?
Comment:
No headfake! Positioned long at 12000
