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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.
Raizen______ Raizen______ PRO NANOBTC, 30,
NANOBTC: NANOBTC Bullish pennant
235 0 4
NANOBTC Bullish pennant

Bullish pennant about to pop up ?

tokeylokey66 tokeylokey66 PRO BTCUSD, 240,
BTCUSD: Whale games, be careful of what the Chart 'paints'
126 2 3
Whale games, be careful of what the Chart 'paints'

As you can see my previous bear flag broke upwards first instead of dumping right away. There is potential for this Bullish Pennant to hit it's target. But... i just don't trust BTC that much yet. Set stop losses if you are going to chase the bullish flag / Pennant Target - 9800

DHuts DHuts PRO BTCUSD, 240, Long ,
BTCUSD: BTC UPDATE Descending wedge confirmed, Inv. H&S on the way?
94 0 1
BTCUSD, 240 Long
BTC UPDATE Descending wedge confirmed, Inv. H&S on the way?

Hey Everyone, see my comment for details for some reason TV thinks I'm not speaking English

michaelhmiv michaelhmiv GBPJPY, 240,
GBPJPY: pennant idea
146 0 1
pennant idea

idea of a pennant?

cryptobulls51 cryptobulls51 PRO LTCBTC, 1D, Long ,
214 0 3

LTC/BTC has been showing a pennant pattern, which had a higher impulsive movement before that. Then the LTC began to manifest laterally for a few days in the 1D chart. We use the Ichimoku Cloud to eliminate noise and confirm the movement. If the LTC breaks the pennant and the cloud, it could start a new bullish trend by targeting the length of the pennant ...

AMTrader AMTrader PRO EURUSD, 60, Short ,
EURUSD: EUR/USD Bearish Pennant Breakout
290 0 6
EURUSD, 60 Short
EUR/USD Bearish Pennant Breakout

EUR/USD Bearish Pennant Breakout A few short trade opportunities targeting 1.21726 ultimately. Price broke out of the pennant last Friday and the measured objective targets the lows of the bullish rally. You can of course target 1.21726 immediately but scaling out profits as indicated with the AB=CD pattern is commendable. Trade 1 Entry: Close below ...

FXTurkey FXTurkey PRO EURGBP, 60,
EURGBP: Stair steps for EURGBP
247 4 15
Stair steps for EURGBP

This pair is ranging in the weekly chart for a long time. Now it is making its way down to range bottom. There is a stair step look on hourly chart. We will be selling pennants and flags down the way till we reach the weekly support marked with red line. Thank you for your support, good luck.

Em4rk Em4rk PRO WTCBTC, 1D, Long ,
WTCBTC: WTC - Pumps incoming
806 5 14
WTC - Pumps incoming

WTC have had some FUD lately, but is still solid pick to portfolio. Mainnet launch is later this month so timing with news works aswell. Pennant is getting closer to breakout point which i expect to be around ~16k sat. If we get closer to 10k sat, we will see huge support from old resistances, which would be ideal spot to buy WTC. RSI proves that WTC is ...

WilliamDBruce WilliamDBruce XAUUSD, 1D, Long ,
XAUUSD: It's time to go on a rally (XAUUSD)
386 0 5
It's time to go on a rally (XAUUSD)

Hi Guys . XAUUSD is getting ready to break the bullish pennant . Wait for the breakout and go long . Hope y'll find this useful . G'day Guys

angel_lobs angel_lobs BTCUSD, 120, Short ,
BTCUSD: The Bear View of Bitcoin [BTC]
3654 12 50
BTCUSD, 120 Short
The Bear View of Bitcoin [BTC]

Hello everyone, I hope you are having an amazing day. I'm here again today with another TA on BTCUSD Why are we dropping and what makes me think Bearish? https://www.tradingview.com/x/11cMcNNG/ https://www.tradingview.com/x/StCbDv6i/ Death Cross at 4H booth MA and EMA https://www.tradingview.com/x/PoXlrfUX/ At 1D MA's are squeezing up. Always keep an eye on ...

e12568 e12568 PRO CL1!, 1D, Long ,
CL1!: The next crude bull is in the gate - saddle up
294 2 7
CL1!, 1D Long
The next crude bull is in the gate - saddle up

Crude is finishing off a bullish pennant pattern on the daily charts. Price MAY have hit their pivot point at $61 today which is a head and shoulders pattern neckline on the 4HR, a uptrend line and a key support level. If $61 holds, then the charge to $67 begins. If $61 fails, the likely target is $59 for a new bull entry with an outside shot at $54. I am opening ...

ecoinamist ecoinamist PRO BTCUSD, 480, Long ,
BTCUSD: Bitcoin | Bear Meets Bull
427 1 10
BTCUSD, 480 Long
Bitcoin | Bear Meets Bull

Linear chart showing bottom of bull trend (from February) meeting with top of bear trend (from December). Price has been consolidating heavily in this key area. Because we are at the bottom, volume has been good, and bear trend has been tested 4 times now, I believe we will break up. Using this chart as guidance for where to go long if we break up, or go short ...

scotch321 scotch321 DJI, 1D, Long ,
DJI: Beautiful Pennant Forming on DJI
148 1 1
DJI, 1D Long
Beautiful Pennant Forming on DJI

At the time of this writing the DOW is down about 60BPS today. As visible in this illustration, we have a bullish pennant forming. Given the length of flagpole we could be looking at another 15-25% rally in the Dow.

ApexTrend ApexTrend PRO NVCN, 1D, Long ,
NVCN: Long idea $NVCN
197 1 4
NVCN, 1D Long
Long idea $NVCN

Major volume and trend reversal noted

kdenery kdenery BTCUSD, 120,
BTCUSD: Thoughts on Bitcoins Midterm Future
449 0 9
Thoughts on Bitcoins Midterm Future

The past few days we've (hopefully) been forming a bullish channel to break us out of our downward one, the price is currently at the crucial crossing point so the next day or so will be extremely decisive and influential for the next couple months of price actions. Check out my idea linked below for a lot more details and a closer look at our short-term action, ...

CryptoCow CryptoCow BNBBTC, 60, Long ,
BNBBTC: Binance Coin (BNB) - Get ready for the next pump!
714 0 13
BNBBTC, 60 Long
Binance Coin (BNB) - Get ready for the next pump!

After very good news for BNB (will become a native coin with an own network - read Binance news section) we had a massive pump today with very high volume. We retraced 50%, then went up and consolidated between 2 Fib-levels (in yellow). By doing so, BNB painted a wonderful bullish pennant (blue lines). A breakout to the upside from the pennant would probably ...

AMTrader AMTrader PRO GBPUSD, 240, Long ,
GBPUSD: GBP/USD Bullish Breakout
143 0 3
GBPUSD, 240 Long
GBP/USD Bullish Breakout

GBP/USD Bullish Breakout Price has broken out of the highlighted pennant formation. This also enables price to continue to challenge and possibly break the 2 month upper resistance trend line. I would recommend targeting 1.3933 first, which is the 61.8% Fibo retracement level. If price is capable of breaching this level, then proceed to target 1.3998, which is ...

BTCUSD: Double Top + Pennant !
2300 6 52
Double Top + Pennant !

Double Top : The flag stock chart pattern forms through a rectangle. The rectangle develops from two trendlines which form the support and resistance until the price breaks out. The flag will have sloping trendlines, and the slope should move in the opposite direction to the original price movement. Once the price breaks through either the support or resistance ...

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