A pennant can be used as an entry pattern for the continuation of an established trend. The formation usually occurs after a sharp price movement that can contain gaps (known as the mast or pole of the pennant) where the pennant represents a period of indecision at the midpoint of the full move, consolidating the prior leg. The price is contained by a small symmetrical triangle that begins wide and converges to a point as the pattern develops.

Bullish pennants can form after an uptrend, bearish pennants can form after a downtrend. The pattern has completed when price breaks out of the triangle in the direction of the preceding trend, at which point it will likely continue in this direction. Conservative traders may look for additional confirmation of the trend continuing. The target can be estimated using the technique of measuring the length of the mast and extending it in the direction of the breakout. A common stop level is just outside the pennant on the opposite side of the breakout. Pennants should not be mistaken for triangles, which are distinct price patterns.
ICmarkets ICmarkets PRO USDJPY, 240, Short ,
USDJPY: 112 is an ideal selling zone!
171 0 9
USDJPY, 240 Short
112 is an ideal selling zone!

With weekly price recently finding a floor of support around the 110.30 mark, we see two possible scenarios on the weekly timeframe at the moment: • To the downside, a weekly AB=CD correction (see black arrows) that terminates within a weekly support area marked at 105.19-107.54 (stretches all the way back to early 2014) may form in the coming weeks. • To the ...

gnewton gnewton EURUSD, 60,
64 0 4
EURUSD short

EU in a declining pennant. entry art 1.1190 tp 1, 1.1115 tp 2, 1.1020 this is my idea to of trade not a signal

iCrushDreams iCrushDreams ETHUSD, 120, Short ,
ETHUSD: Ethereum could plunge right through the 200s
3635 21 21
ETHUSD, 120 Short
Ethereum could plunge right through the 200s

Ethereum had several chances to have a bullish continuation of the last dump but failed all of them (as you can see in my other chart that was bullish on Ethereum). Now, it had 2 pennants and a medium term pitchfork - all of which have been broken downwards. We could potentially see Ethereum plunge straight through the 200s now. Entry - $275-325 Target - ...

zmm20 zmm20 XBCBTC, 240, Long ,
XBCBTC: XBC breakout
337 4 22
XBCBTC, 240 Long
XBC breakout

Tiny supply, easy to pump. Huge pennant breakout. Nuff said.

myownman myownman PRO ETHUSD, D, Long ,
ETHUSD: Stairway to Heaven (August)
964 1 8
Stairway to Heaven (August)

Stairway to Heaven (August) On this chart, I decided to set the left limit at the beginning of the year, and drag the right limit to about 60 days out, with a little headroom (I think it's still VERY MUCH a bull market, due to x-market factors and Ethereum's fundamentals) and a log scale. The obvious upward channel was marked with a pitchfork that has std(X) ...

igpromotings igpromotings PRO AUDUSD, 30, Long ,
AUDUSD: AUD/USD Retest of Structure High
462 3 13
AUDUSD, 30 Long
AUD/USD Retest of Structure High

Good Afternoon, Pennant located via AUD/USD, according to Elliot Wave theory (if you trade it), we are on leg D, looking for it to complete thus arriving at leg E. Trade is self explanatory, more detail will be provided when entry is finalized. Execute at your own risk. Enter on lower confirmation Thanks, Trade Wisely

igpromotings igpromotings PRO GBPUSD, 240, Short ,
GBPUSD: GBP/USD Pennant Breakout
886 6 32
GBPUSD, 240 Short
GBP/USD Pennant Breakout

Good Afternoon, Three corrective patterns have been identified via GBP/USD first being a corrective contracting triangle, second being a corrective flag, and lastly the third being a pennant. The two previous correctives fabricated a breakout, expecting this one to do so as well.Enter on lower time frame, and look for confirmation. Execute on your own due ...

Roker1 Roker1 PRO AUDUSD, 60, Long ,
249 1 23
AUDUSD, 60 Long
TCT trade on AUDUSD

Hey guys, Australian dollar has gained a lot over the pasy days, you can see this from the chart above and you can also see that lately price has been ranging in a very tiny space. When you see impulsive move like this you would expect price not to retrace so much because of the strength disequilibrium. And that is what i think could happen next here: flags, ...

AndriyMoraru AndriyMoraru PRO USDJPY, 240, Long ,
USDJPY: Bullish Pennant on USD/JPY @ H4
333 0 3
USDJPY, 240 Long
Bullish Pennant on USD/JPY @ H4

This bullish pennant on the 4-hour chart of USD/JP offers an upward breakout trading signal. The pennant's body and its pole are marked with the yellow lines. My potential entry point is marked by the cyan line. My potential take-profit level is at the green line. I will set the stop-loss order to the low of the breakout bar (not shown).

fxtm fxtm USDJPY, 60, Long ,
USDJPY: UJ heading higher
159 0 6
USDJPY, 60 Long
UJ heading higher

Long term uptrend is expected after small decline confirmed by FIBO .236 level and a pennant chart pattern.

jsburgos jsburgos PRO SYSBTC, 240, Long ,
SYSBTC: SYS imminent breakout
2155 5 25
SYSBTC, 240 Long
SYS imminent breakout

Within the next few weeks, SYS will be testing new highs once the bullish pennant is broken upwards. TP1: 9600 sat. TP2: 13000 sat. TP3: 15000 sat. Questions and requests on Telegram. More info in my signature. Song for the ride

iCrushDreams iCrushDreams SCBTC, 120, Long ,
SCBTC: Siacoin - Third pump?
881 2 12
SCBTC, 120 Long
Siacoin - Third pump?

Siacoin has been in a pitchfork (log scale) since the first pump starting on May 18. It has formed two pennants since then and the first one broke out very similarly to the initial pump. I'm watching SC closely to see if the pattern will repeat for a third pump. Entry - 550-650 Target - 750 Good luck!

ironsheik ironsheik ETCBTC, D, Long ,
ETCBTC: ETC Flag/Pennant
264 0 3
ETC Flag/Pennant

Pretty simple here... ETC flag. I am very bullish on ETC based on technicals and fundamentals (emerald wallet coming soon). Look for entry now. Take profit above 100k.

TheHazeFactory TheHazeFactory XMRBTC, W, Long ,
XMRBTC: XMR Bull Pennant! Gains on gains on gains!
273 0 9
XMR Bull Pennant! Gains on gains on gains!

If it breaks up, expect massive gains! Vice versa for if it breaks down haha. I'll post TP and other updates soon. Let me know what you think!

olddigger olddigger PRO ETHBTC, 60, Short ,
ETHBTC: $ETH - Continuing the correction
201 0 6
ETHBTC, 60 Short
$ETH - Continuing the correction

SMA, EMA CLOUD all compressing in a nice Bear Pennant. Looking for a drop soon.

jsburgos jsburgos PRO LTCUSDT, 60, Long ,
LTCUSDT: LTC bullish pennant
4086 11 32
LTCUSDT, 60 Long
LTC bullish pennant

Ready to break up. TP1: 54. TP2: 75. Questions and requests on Telegram. More info in my signature. Song for the ride

belgian93 belgian93 LSKBTC, 240,
LSKBTC: LSK to have big breakout in < 4 days (ETA: 28-6 00:00)
226 1 9
LSK to have big breakout in < 4 days (ETA: 28-6 00:00)

Lisk is doing good, real good. LSK/BTC is now up 150% since previous month (24-5). 24th was the day after the first major upwards breakout (100%) for Lisk. As illustrated on the TA we see that after the first bullish breakout we see a pennant forming. After wich surely another breakout followed (initially 100%, to be boosted almost up to 200%) Is what we are ...

moneymunshi moneymunshi PRO XCPBTC, 60, Long ,
XCPBTC: XCP Pennant Formation
183 0 3
XCPBTC, 60 Long
XCP Pennant Formation

A nice Bearish Pennant has formed and i expect it touch the Major Support Line once before making a move upwards It will good time to buy when it touches the Support Line and Rebound of it I may make a move upwards by next week so be patient

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