Thanks for sharing so many of these formations. I haven't traded pennant much so far but you are getting me interested more and more. I'm studying them this morning and will continue to follow your ideas. In this case here, on Dec 2 (today) the price moved right under the support line you draw. Do you consider the pattern invalidated immediately?
Madcaptains
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actually scratch that question. A few hours the price went up and what I saw as a potential invalidation turned out looking completely different a few hours later.
LeLaf
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@Madcaptains, The full candle stayed within the pennant. No invalidation yet. But no confirmation either. Watching.
Madcaptains
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@LeLaf, but it did go up at one point during the day, as if breaking up. Had I bought at that point, I would be in the red by now. Should I always wait for it to close above the pennant formation and jump the day after?
LeLaf
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@Madcaptains buy the day following a break out, with volume. If you buy when still within the pennant, there’s a chance it may fall. Wait for a break out .