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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.
1562 6 25
XRPBTC, 60 Long
Ripple | Round Two Coming Up? Potential Breakout [XRPBTC]

Like I mentioned in my earlier analysis, it seemed like the RSI needed to cool off a little before Ripple could make another move. We had two days of consolidation now and created a nice bull pennant, which often results in continuation to the upside. A Long trade would have a pretty good Risk/Reward ratio right now. First target could be the next resistance level ...

TheShortLife TheShortLife XAUUSD, 1D, Short ,
142 0 8
XAUUSD, 1D Short
Gold pennant in a down trend breaks down

Bearish pennant on gold. US dollar spiking next week, oversold today outside lower bollinger band and we have fed meeting.

moon333 moon333 BTCUSD, 1D, Long ,
137 0 2
BTCUSD, 1D Long
BTCUSD daily chart July to sep 18 in Pannent

Hi guys: from to july to sofar BTC is moving in pennant from july to sofar the btc has tested the resistance two times and also tested the bottoms two times now its turn to touch the resistance again which is 7100. We have also found two fish hooks in pennant which votes for bullish signals We can see that btc has created a clear double bottom pattern by ...

148 3 2
EURUSD, 60
Let's Discuss this..

EURUSD on H1 hit a side-way consolidation, what's your call and strategy on this? Will you or will you not engage a trade? Why so?

Audicted Audicted ETHUSD, 240, Short ,
235 0 2
ETHUSD, 240 Short
Bearish Pennant or Flag on ETH/USD 4h

After the recent breakout from $285 to $170, price has consolidated and begun to converge between $195 and $225. This movement is causing a pennant or flag formation which usually signals continuation of the trend. Thus, I am looking at a downward breakout below $200 to enter a short position and take profit at $85. Take profit level is decided by reducing price ...

126 0 1
CRON, 240
CRON - letting the dust settle

CRON was all bulls today out of the gate setting a new all time high before pulling back hard. I'm watching the CRON range expecting a daily equilibrium from low of the oversold bounce to high of today. It's notable CRON is the only name that hasn't lost it's 4hr uptrend. I'll be remaining very patient as the next couple of days set a tightening range with new ...

76 0 3
EOSUSD, 180
EOS converging on upward trend

I've been tracking this pitchfork pattern for quite a while and it's nearly spot on. I recently noticed that the lows were higher indicated by the yellow line. Now the pitchfork and this yellow uptrend line are converging. I'm bullish on EOS as a development pattern, but no idea which way it will go. Either it breakout of the pitchfork pattern upward or stays ...

91 0 3
APH, 1D
APH - letting the dust settle

Watching the APH.TO range from low of the oversold bounce to high of today. Today we saw our lower high set and bulls are now looking for a new support level above 15.76. Today's low bounced right off the .5 retracement of the fib pull with swing low as the oversold bounce low, to the high of today. It will be interesting to see if that new support holds. I'll ...

101 2 1
BTCUSD, 1D
The parabolic squeeze

$6500 May 2019

546 0 9
XRPUSD, 1D Long
Ripple | We Got The Breakout. Now What? [XRPUSD]

Now that we got a nice little breakout on Ripple, we should look at some targets. How high could this thing potentially be going during a bear market / upcoming accumulation phase? Volume First of all, I take a look at the volume. It was really significant on this breakout. Almost as much as during the last real altcoin season. This makes me believe that we're ...

172 0 3
BTCUSD, 120
Bitcoin | The Calm Before The Storm? [BTCUSD]

Taking a look at the BTC charts today, Bulls and Bears seem kind of in equilibrium. The range is getting tighter and tighter. I don't think we will immediately break above 6.6k or below 6.2k. We mighty consolidate between this range for a while. This may seem like BTC has finally stabilized, but I rather think it's the calm before the storm. We're at the end of a ...

kdenery kdenery LINKBTC, 60, Long ,
563 2 4
LINKBTC, 60 Long
Huge LINK Breakout Imminent

I'll be buying more as soon as i can.

DianKemala DianKemala USDTRY, 60, Long ,
3703 5 63
USDTRY, 60 Long
USDTRY and Borsa Istanbul Technical analysis

In this chart I wanna discuss about USDTRY and Borsa Istanbul, coz Borsa Istanbul and Turkish Lira have negative correlation. As u can see that bullish pennant pattern perform at USDTRY, and this pattern already break up. But you also can see that bullish confirmation resistance line still not break up at 6.15. If bullish confirmation line break up with full ...

148 0 3
EOSBTC, 240
EOS - Bearish pennant?

Since creating a short-term high in the first week of January, EOS has been retracing with a series of lower highs and lower lows. In August, this series was interrupted as the short term low was made. Since then, the price action has been trapped within a triangle, thus, creating a potential bearish pennant. This formation is a continuation pattern that marks a ...

DaddySawbucks DaddySawbucks DJI, 240, Short ,
206 0 6
DJI, 240 Short
US 30 near Pivot; Bearish Gartley Completed 9/14/18

Dow index has reached 1.618 Fibo on B-D arm 9/14 when pattern is drawn from closing price tops of candle bodies. A previous idea of mine showed it from top of wicks. This is necromancy, folks. Somewhere in between lies reality. Expect to see that on Monday or perhaps Tuesday next week. Should arrive Thursday at the latest. Target zone for pivot is depicted in ...

edwinguy99 edwinguy99 LULU, 240, Long ,
55 0 1
LULU, 240 Long
LULU Bullish Flag formation near completion.

LULULEMON is currently in the controlled profit taking stage of the flag for the current bull flag formation. The previous advance since an earnings surprise is used as the length of the flagpole and also the measuring objective of the next advance. If we see some significant volume on the breakout then we could be set up for some nice quick profit. If volume ...

154 0 3
SQ, 240
Monday to give direction on SQ for the coming weeks

SQ 4hr chart equilibrium break will give direction for the coming week - breaking up above 92.39 increases confidence in continuation to new all time highs this week, and a break of 89.31 will have us looking to test 83.34 as a daily support. The weekly chart is getting extended with 6 green weeks in a row and a bearish reversal spinning top doji on declining ...

imresg imresg USDTRY, 60, Long ,
574 1 13
USDTRY, 60 Long
USDTRY / H1 / BULLISH PENNANT

Wait for break and close of resistance line

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