Imagine a rollercoaster: first, a steep drop (downtrend), then a brief pause (consolidation) before another drop.
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This pause creates a symmetrical triangle of highs and lows, indicating market uncertainty. When prices break out below this triangle, it signals a likely continuation of the downtrend.
1️⃣ The...
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...
