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Pennant

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Pennant

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.
Cenk_CAKIRAL Cenk_CAKIRAL USDCAD, 15,
USDCAD: Pennant
47 0 4
USDCAD, 15
Pennant

Pennant

webworker webworker ETHUSD, 15, Short ,
ETHUSD: ETH overshot BTC
528 10 8
ETHUSD, 15 Short
ETH overshot BTC

Current bear pennant on ETHUSD 15m, assuming a correction to fall back in line with BTCUSD.

OmegaTrade OmegaTrade GNOBTC, 15, Long ,
GNOBTC: GNOBTC Pennant Continuation LONG (18-30%)
93 0 4
GNOBTC, 15 Long
GNOBTC Pennant Continuation LONG (18-30%)

Huge bullish pennant continuation setting up on GNOBTC and with a lot of sideways consolidation in the last 18 hours. The Bollingers are getting super tight as well so we could be looking at something rather soon (next 48 hours). Buy walls are behind this like Donald Trump was behind....well...Donald Trump. The flag pole on this showed an increase of 0.075 BTC, ...

doughdaddy doughdaddy PRO PFE, D,
PFE: PFIZER / PFE
35 0 6
PFE, D
PFIZER / PFE

Price appears to be getting wedged by 7 year long support trend-line below and $34.5 resistance above. Anticipating break to the upside in coming months where next resistance appears to be $37. Will likely buy OTM calls if/when we dip into support zone. GLTA!

LekkerCapital LekkerCapital PRO LABU, 240, Long ,
LABU: LABU consolidation
15 0 7
LABU, 240 Long
LABU consolidation

GL

TimothySykes TimothySykes SPI, D, Long ,
SPI: SPI LONG
146 5 5
SPI, D Long
SPI LONG

Positive news, showing uptrend, looks like it will touch $2.00+ Monday morning.

DianaNyokabi DianaNyokabi USDCHF, 240, Long ,
USDCHF: USDCHF LONG
26 0 2
USDCHF, 240 Long
USDCHF LONG

USDCHF LONG

MoneyMuffin MoneyMuffin NZDUSD, 15,
NZDUSD: NZDUSD expecting a breakout
40 0 6
NZDUSD, 15
NZDUSD expecting a breakout

Bear Pennant formation. https://bull-moon-trading-co.herokuapp.com Its simple. if it breaks red line (resistance) ill be going long. If it breaks green line(support) ill short. Overall trend is Short, so if you go long, be careful.

moneymunshi moneymunshi PRO XCPBTC, 60, Long ,
XCPBTC: XCP Pennant Formation
210 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

BTCana BTCana BTCUSD, 240, Long ,
BTCUSD: [BTC] Short term
414 4 10
BTCUSD, 240 Long
[BTC] Short term

Hope that this will help decision making. All TAs and FAs welcomed in the comments as always. My previous 5 month old noob EW wave count was aiming for 900 USD region and then changed to 800 USD. CHEERS !

AndriyMoraru AndriyMoraru PRO EURCAD, 240, Short ,
EURCAD: Bearish Pennant on EUR/CAD @ H4
136 0 3
EURCAD, 240 Short
Bearish Pennant on EUR/CAD @ H4

This bearish pennant on the 4-hour chart of EUR/CAD offers an downside breakout trading opportunity. 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 high of the breakout bar (not shown on the chart).

doughdaddy doughdaddy PRO CELG, 240, Long ,
CELG: Celgene / CELG
32 0 4
CELG, 240 Long
Celgene / CELG

Pennant consolidation nearing completion and trend may continue upwards towards previous high around 140.

joseph.medina0131 joseph.medina0131 AUDUSD, 240, Short ,
AUDUSD: Bearish Bat on 4H Aussie/ Dollar
25 0 4
AUDUSD, 240 Short
Bearish Bat on 4H Aussie/ Dollar

On the Weekly Chart, the pair almost seems to be making a Bear Pennant and has been in a significant downward trend. at the moment there is a Bearish Bat pattern! typically one might want to place stops above the pattern's entirety, but I like Risk/ Reward to be at least 1 risk/ 2 reward. There are 4 TP's each at signiciant Fib. Retrace levels of the AD leg. ...

AndriyMoraru AndriyMoraru PRO USDJPY, 240, Long ,
USDJPY: Bullish Pennant on USD/JPY @ H4
411 0 4
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).

belgian93 belgian93 LSKBTC, 240,
LSKBTC: LSK to have big breakout in < 4 days (ETA: 28-6 00:00)
238 1 9
LSKBTC, 240
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 XEMBTC, 240, Long ,
XEMBTC: XEM About to go UP
233 0 2
XEMBTC, 240 Long
XEM About to go UP

I think Xem has reached Bottom of the Penant and is about go High TP 1 : 75000 Best of Luck

redmonkeysrulez89 redmonkeysrulez89 USDCAD, 15, Short ,
USDCAD: Bearish Pennant USD/CAD Short
36 0 5
USDCAD, 15 Short
Bearish Pennant USD/CAD Short

Heavy selling volume on the pole, decreasing buying pressure and selling pressure resulting in a pennant formation. Sell on breakout downwards.

Sensei Sensei PRO AUDCAD, 60,
AUDCAD: AUDCAD CORRECTION (TRIANGLE PATTERN)
16 0 2
AUDCAD, 60
AUDCAD CORRECTION (TRIANGLE PATTERN)

Ascending triangle here, could break either way really. Wait for a breakout candle to confirm any kind of entry. Fairly high probability setup but wait for the price action to make a move. Enjoy

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