The bullish pennant on the daily chart of CAD/JPY can be used for trading an upside breakout. The pennant and its pole are marked with the yellow lines. My potential entry level is a the cyan line. My potential take-profit level is at the green line. I will set the stop-loss to the low of the breakout candle (not shown).
Buy opened @ 84.654 today at 13:44 UTC, SL=84.262, current TP=86.412.
Trade closed: stop reached:
SL @ 84.262 triggered today at 01:00 UTC.
You can find a lot of detail about my trading ideas in my blog - https://www.earnforex.com/blog/ You will also find useful tools to find, build, and trade similar patterns - all completely free.