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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.
RCtrader2 RCtrader2 EURUSD, 1D, Short ,
92 1 3
EURUSD, 1D Short
The battle for a strong dollar is not over yet.

Canadian positive data and Donald Trump criticism of the FED made all currencies surge against the dollar. The greenback lost ground to euro making price enter again the 1.17x area. A bearish pennant, however, is a possible outcome on the daily chart, and breaking 1.15 would bring traders at least 250 pips to the south. It is a new week where data figures will ...

casrules casrules USDTRY, 60, Long ,
280 0 3
USDTRY, 60 Long
TRY the long

going to 5.1.. perfect time to enter

BrianEckert BrianEckert HMNY, 1D, Long ,
126 0 1
HMNY, 1D Long
2 day long

30% target! Should confirm by the end of the day if we are going to get a nice little ride. Its forming a bearish pennant right now. Fingers crossed, but I feel confident in it. Just look at the RSI!!

Juanchobanano Juanchobanano STRBTC, 60, Long ,
6921 46 89
STRBTC, 60 Long
Stellar - Pennant Pattern - 0.00003245 - 3845

Hey traders! I want to share with you my Stellar´s analysis. It called my attention because in last few days it increased a lot its marketcap, breaking with a lot of force (I mean Volume) the top of its last channel, and finally, forming a pennant pattern (If you want to know more about this kind of pattern, please go to the end of this post). I also want you to ...

80 0 2
BTCUSD, 60 Long
Potential flag pennant breakout of 10%

if the breakout happens to the upside, potential $800 increase.

casrules casrules ETHEUR, 240, Long ,
147 0 4
ETHEUR, 240 Long
Only Normies are Shorting this

dont me a normie T1: 410 T2: 470

DianKemala DianKemala IOTUSD, 240, Long ,
25598 87 207
IOTUSD, 240 Long
IOTUSD

IOTUSD perform bullish pennant, if this pattern break up and success break bullish confirmation line at 1.54737, we have target at 2.12657 But if this pattern break down, prepare to buy at support at 0.77251 Good luck

trademics trademics CRSP, 1D, Long ,
47 0 1
CRSP, 1D Long
CRSP FLAG LONG

LONG OVER TODAYS CLOSE RUN INTO EARNINGS 8/8 12.6% FLOAT SHORT

euromotives euromotives AUDUSD, 1W, Short ,
399 3 11
AUDUSD, 1W Short
AUDUSD to reach down to .58500 by end of 2018 ?

I was just perusing the AU weekly chart, and this rising wedge jumped out at me. So I drew a couple of lines and noticed: - Wedge bottom has 4 touches, plus a PERFECT Retest - Wedge top has 4 touches though not as perfect. - Start of drop from previous low is clear, so that is my flag pole. Thus I am picturing two possible targets: 1) Bottom of Wedge (previous ...

savior144 savior144 BTCUSD, 60, Short ,
133 0 4
BTCUSD, 60 Short
Bearish Flag

Fall to 5500 according to figure

PVBTC PVBTC BNBBTC, 1D, Long ,
370 4 6
BNBBTC, 1D Long
BNB breakout incoming

BNB looks like its about to breakout

coldstorm129 coldstorm129 BTCUSD, 1D, Long ,
82 0 2
BTCUSD, 1D Long
Bullish Flag Indicates An Upward Move

It appears that there is a bullish flag forming that could cause the price of bitcoin to move above $8000.

179 3 6
BTCUSD, 60
[Red Apple] Analysis for BTC/USD _ 18.07.18 'Completed Patterns'

I mentioned 'Flag pattern' from the briefing yesterday and the price was heading upward. Then, Let's start the analysis for today's BTC/USD chart. If you are busy, you can just read below briefly '1. Briefing ' '4. Strategy' '5. Summary' and click '+Thumb up, +Follow' :-) 1. Briefing # Break the Neck-Line to upward # The candle re-enter 'Long Term Uptrend ...

61 0 3
BATBTC, 120 Long
25% long trade on bat

Potential 25% - 1/4 risk/reward ratio

140 0 2
VENBTC, 1D
ONTBTC-Binance

Interesting point for ONT we have the lovely falling wedge and within that a bear pennant that can target pretty low (0.0004090 unlikely) each one of these is a whole new beast.

91 0 1
ONTBTC, 240
ONTBTC-Binance

Interesting point for ONT, we have the lovely fallingwedge and within that a bear pennant that can target pretty low (0.0004090 unlikely) each one of theas is a whole new beast.

139 0 6
USOIL, 60
EURUSD and USOIL _ Oil and Water

Lately, I find that: Whenever the 2 charts are overlapped. we see that at a crossing of the bars there is huge movement in oil. When USOIL is above, crossing the EURUSD downwards, expect a huge shift to continue in the downward direction. The same goes for when the oil price crosses EURUSD. Then expect a upward thrust. In reality, It relates to the strength(or ...

AndriyMoraru AndriyMoraru XAUUSD, 240, Long ,
169 0 2
XAUUSD, 240 Long
Bullish Pennant on GOLD @ H4

This bullish pennant formation on the 4-hour chart of XAU/USD provides a bullish breakout trading opportunity. The pennant and its pole are outlined with the yellow lines. My potential entry level is marked with the cyan line. My potential take-profit level is marked with the green line. I will set my stop-loss to the low of the breakout candle (not shown).

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