Pennant (Continuation Pattern)

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 is complete 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 look for additional confirmation of the trend continuing. The target can be estimated by 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.
Fxprotrader Fxprotrader PRO GBPNZD, 60, Long , 2 hours ago
GBPNZD: GBPNZD Pennant Pattern Offers a Buy Opporunity
99 0 7
GBPNZD, 60 Long
GBPNZD Pennant Pattern Offers a Buy Opporunity
Price is moving into a correction having formed a pennant pattern and it looks like we are having a breakout above it. Buying the breakout is a nice opportunity. Sl and tp as shown at the chart.
AcornWealthCorp AcornWealthCorp PRO CCI, D, Short , a day ago
CCI: CCI - Pennant breakout Earnings play $82.50/$85 Feb-17 Puts
8 0 3
CCI, D Short
CCI - Pennant breakout Earnings play $82.50/$85 Feb-17 Puts
CCI is a very speculative earnings play. It seems forming a pennant formation. we think with the earnings it will breakdown. Trade Criteria Date first found - January 13, 2017 Entry Target Criteria- $82.50 or $85 Feb-17 Put options Exit Target Criteria- $77 Stop Loss Criteria- N/A Trade Status: Pending (Note: ...
Roker1 Roker1 PRO EURGBP, 60, Short , 2 days ago
EURGBP: Flag pattern on EURGBP
23 0 4
EURGBP, 60 Short
Flag pattern on EURGBP
Hey guys, another simple pattern on my radar today. This time i'm right on time because the break has just happened. You can see the big impulsive leg that broke multiple structure levels on the 4hr chart. Like i said on the previous idea usually after impulses like this price put brief form of consolidation like ...
info55 info55 PANW, W, Long , 2 days ago
PANW: Pennant forming POSSIBLE Two Path
13 0 3
PANW, W Long
Pennant forming POSSIBLE Two Path
-Price is trading within Pennant formation. -PATH 1 : Price may breakout 164 mark OR - May take PATH 2 bounce down and than go back up to breakout
konjo konjo GBPUSD, 240, 2 days ago
GBPUSD: GBPUSD 2017 jan 18
38 0 4
GBPUSD 2017 jan 18
Pennant (going up) & Inverse Head and Shoulder (Bullish)
hope.bleecker hope.bleecker GBPUSD, 60, Long , 3 months ago
GBPUSD: GBPUSD-  Bull Position Buying into 12920
422 0 16
GBPUSD, 60 Long
GBPUSD- Bull Position Buying into 12920
The Bears are looking for a great reentry to sell pound!!We have been buying the retracement on Pound since Monday night. Right now I am waiting for the market to break and close above a counter trend line break on this current flagpole pennant as the market looks for a good spot to reshort. The D extension of ...
simonsays452 simonsays452 PRO USDJPY, 24, Long , 5 months ago
USDJPY: Too perfect: stay short $USDJPY to 98.787
28 0 2
USDJPY, 24 Long
Too perfect: stay short $USDJPY to 98.787
Continue staying short $JPYUSD (Yen strength). The 24min chart has a stupidly perfect setup for a strengthening impulse to 98.787 which coincides with: 100% fib retracement, prior low and a bear pennant breakdown.
Akil_Stokes Akil_Stokes TOP USDJPY, 60, Long , 2 months ago
USDJPY: USDJPY Pennant Pattern Breakout
4812 29 82
USDJPY, 60 Long
USDJPY Pennant Pattern Breakout
Syndicate members there will be a video coming out on this shortly, but I wanted to share with you guys a potential breakout trade that I have on my radar this Tuesday Morning. If you're unsure on the different ways to trade these types of simple consolidation pattern you can check out the video I posted 2 weeks ...
Springbox Springbox BTCUSD, D, Short , 3 days ago
BTCUSD: Trend will break downwards
379 2 7
Trend will break downwards
BTC has been in a sideways trend for most of the weekend since the PBOC announcement. Since the retracement hasn't broken the 23.6% fib, it is assumed the the breakout will be downwards
AcornWealthCorp AcornWealthCorp PRO CBI, D, Short , 6 days ago
CBI: CBI - Pennant/Flag formation short trade from $31.93 to $28.43
7 0 5
CBI, D Short
CBI - Pennant/Flag formation short trade from $31.93 to $28.43
CBI seems forming a downward pennant or flag formation. Both suggestion a decline. If it breaks below $31.91, it can go all the way down to $28.50 area. Trade Criteria Entry Target Criteria- Break of $31.93 Exit Target Criteria- $28.43 Stop Loss Criteria- $33.03 Trade Status: Pending (Note: Trade update is ...
glennmercer glennmercer PRO RF, 60, Long , 9 days ago
RF: RF Bull Flag Breakout: Don't Miss It!
123 0 12
RF, 60 Long
RF Bull Flag Breakout: Don't Miss It!
Hey traders, great bull flag setup here. It's moving on strong volume today so I'm expecting a breakout within the day or tomorrow morning. I will not enter unless resistance is pierced, but this looks like a high probability setup. I'll be letting it run after 1:1. Cheers
AngellD21 AngellD21 EURCAD, 15, Long , 13 days ago
EURCAD: EURCAD Long opportunity
11 0 4
EURCAD, 15 Long
EURCAD Long opportunity
Market seemed to stall this time when approaching 1.39275 level on 5 minute chart we have a pennant formation going to take this buy opportunity when market opens next week
Tellechea19 Tellechea19 USDJPY, 240, Long , 23 days ago
33 0 3
USDJPY, 240 Long
Pennant chart pattern on $usdjpy (H4)
Kantardziski Kantardziski PRO (BTCUSD+BTCUSD+BTCUSD+BTCUSD)/4, 60, Long , 23 days ago
(BTCUSD+BTCUSD+BTCUSD+BTCUSD)/4: Updated Bitcoin Price Targets ~ Is Santa Staying for New Years?
Updated Bitcoin Price Targets ~ Is Santa Staying for New Years?
Price Target #1(Link to Original Below): $952 Price Target #2: $958 Price Target #3: $962 The variability comes from various (subjective) nuances, not least the small pennant that formed Dec 27 (0-7am EST).. This target shouldn't reflect my bias, it is merely a use of the measure rule... Good Luck and Happy ...
DYSWIS DYSWIS USDJPY, 60, Long , a month ago
USDJPY: USDJPY 60M . . . it's nearly holiday time !!
116 3 8
USDJPY, 60 Long
USDJPY 60M . . . it's nearly holiday time !!
Same old, same old although I expect a little profit taking come the holidays. Here's a 60m chart . . . apart from the obvious "pennant" formation currently under way, my major levels remain the 100 weekly SMA and the 61.8 fib (red dashed) from the May '15 High to the June '16 Low. I'd be very happy for these ...
RickyBooker RickyBooker AUDUSD, 15, Short , 2 months ago
AUDUSD: AUDUSD Short opportunity
38 0 4
AUDUSD, 15 Short
AUDUSD Short opportunity
The AUDUSD has been on massive downtrend. I noticed that there is a bearish pennant formation. I think price will continue downtrend to head down to 0.7320 area support.
MarcelV MarcelV PRO MAIDBTC, D, Long , 3 months ago
1278 13 21
Hi All! Today we are going to Long MAID. Entry: 1400 1st tgt: 1600 2nd tgt: 1700 Final: 3000 TA in the chart. FA: MVP released. Running in Alpha. Kim Dotcom and Megaupload 2.0 thinking to use Maidsafe for storage!!!!! MegaUpload 2 coming soon! Funding problems which caused Behemoth Short have been ...
NeeteshJain NeeteshJain PRO EURINR, D, 3 months ago
EURINR: Educational 07: Flag and Pennant Patterns
149 2 7
Educational 07: Flag and Pennant Patterns
These are continuation trend pattern that are found frequently in the markets. I wanted to cover it and share it with you as I found some good charts during my research that are forming such patterns. One of them is Aban 2.41% offshore, chart link attested below. (I have also provided some examples given in ...
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