Daniel-Malik

Educational Chart - Pennant trading technique

TVC:SPX   S&P 500
4 months ago
My views about pennant trading are a bit different from many. Here i share my view, would appreciate your feedback.
4 months ago
Comment: If you have any question left in your mind , feel free to ask me
Join My Facebook Group www.facebook.com/groups/103879896720540
aa2016
4 months ago
How can you place a pending order when you are already in the trade either long or short?
Reply
Daniel-Malik aa2016
4 months ago
if the trend before the pennat was bullish and you were in long position , so try to hold your long and make your SL down to pennant and vice-virsa
Reply
lkthomas
4 months ago
how are you going to deal with false breakout? both pending order will get hit and you are screwed.
+1 Reply
Daniel-Malik lkthomas
4 months ago
a good question, What i persoanlly sugguest is to take a GAP of atleast 8-10 pips, because false breakout cant be more then 5-7 pips hardly
Reply
lkthomas Daniel-Malik
4 months ago
I am not sure about S&P, but for FX 5-7 pips wouldn't protect you for anything
Reply
Daniel-Malik lkthomas
4 months ago
ok ! what will you do if you enter with one direction and soon you recognized that it was a fakeout ?
Reply
lkthomas Daniel-Malik
4 months ago
now I don't trade breakout like that, I wait until pullback; Before I would close current position and open reverse direction position, if it swings, I am pretty much screwed, LOL
Reply
VitruvianTrader
4 months ago
Would this not be more of a symmetrical triangle, ie. yes either side if probable/possible
From what I have seen a continuation pennant would be sloping down in this case (bullish)?

Just wondering on your perspective, thanks for the post.
Reply
Daniel-Malik VitruvianTrader
4 months ago
Perhaps that a probability as market is dynamic and there are many perspectives which are plausible. thx for asking.
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out