New cheat sheet template on Reversal patterns and continuation patterns. Entry, SL, and PT have all been included.
I have also included must follow rules and how to use the BT Dashboard.
What Is a Pennant?
In technical analysis, a pennant is a type of continuation pattern formed when there is a large movement in a security, known as the flagpole, followed by a consolidation period with converging trend lines—the pennant—followed by a breakout movement in the same direction as the initial large movement, which represents the second half of the...
Pennant Chart Patterns Tutorial !
Pennant Pattern : Pennant Patterns are continuation chart pattern, forms when price of a security or asset makes strong upward or downward movemnt followed by a consolidation period with converging trendlines which forms a pennant before continuing to move in the same direction. Bullish pennant forms in a bullish trend market...
The target for a pennant breakout should be determined by the height of the pennant
In this example the height was 165 pips.
The price reached broke out and reached 161 pips.
Of course, it's not always perfect but it's close enough.
A similar example can be seen in last weeks pennant break out on EURUSD. However, on the EURUSD example, when price broke out it...
