Price closed below 0.90094 on the Daily Chart. BREAK Price pulled back to the 0.90094. RETEST Price reached the target at 0.89323. MEASURED OBJECTIVE
From the chart, there has been an increase in gold in a close-knit candlestick pattern, with it increasing value. This has caused a bearish flag to arise. This is recognised due to: 1. quick increase to reach the basis of the flag. 2. once it was reached began forming an upwards flag shape with close-knit candlestick high/ low closes. 3. once the flag lines...
Flag and penant formation on Hourly TF. Possible downward break.
Pennant Strategy • Break • Pullback Action: Observe and Measure results from July 17, 2019 to July 31, 2019.
Flags and Pennants Pattern We will now analyse the flags and Pennants Pattern, two other Patterns of the technical analysis. Flags and Pennants are short-term continuation patterns ; are among the most reliable Patterns and they represent “short breaks” (not longer than 20 sessions) during a Trend, before the Trend continues to go in the initial direction. Let’s...
Three good examples:- Falling Wedge Bull Flag Pennant
Study notes based on the Babypips course. Based on this article: www.babypips.com Bullish pennants are formed in an uptrend and imply that the bulls are about to charge again! - Uptrend - Breather, consolidation into a tight range - Breakout to the upside Flagpole can be used to measure size of the breakout upside potential
A Bear Flag is a price action within the context of a downtrend that produces an orderly price increase consisting of a narrow trend range comprised of higher swing/pivot highs and higher swing/pivot lows. The success of a Bear Flag can be greater after a significant downside move due to the possible increase of overhead resistance. Bear Flags can be stronger...
Flags and pennants are continuation patterns. They are traded in the same way, but each has a slightly different shape. The terms flag and pennant are often used interchangeably. A flag or pennant pattern forms when the price rallies sharply, then moves sideways or slightly to the downside. This sideways movement typically takes the form or a rectangle (flag) or...
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 comments box below for your references and goodself.)...
My views about pennant trading are a bit different from many. Here i share my view, would appreciate your feedback.