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Pennantbreakout

EURGBP - What Is a Pennant?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 flagpole. Pennants are continuation patterns where a period of consolidation is followed by a breakout used in technical analysis. It's important to look at the volume in a pennant—the period of consolidation should have lower volume and the breakouts should occur on higher volume. Most traders use pennants in conjunction with other forms of technical analysis that act as confirmation. Understanding Pennants Pennants, which are similar to flags in terms of structure, have converging trend lines during their consolidation period and last from one to three weeks. The volume at each period of the pennant is also important. The initial move must be met with large volume while the pennant should have weakening volume, followed by a large increase in volume during the breakout. Here's an example of what a pennant looks like:
Education
by Yuriy_Bishko
5
NEA - Bullish Pennant in Formation I believe that there is a great buying opportunity in NEA, as it has been forming a clear Bullish Pennant since the end of August. It is clearly a continuation pattern and has been consolidating within this pennant. If Price Breaks this pennant with High Volume, this may be a sign that Price may continue pumping up with force and reach the (Resistance 2 - Zone) nearly $3.10 with a potential gain of nearly 32%. Price may even hit the Strong Resistance Zone of nearly $3.90, which may provide a gain of 62%. I believe this is a great medium term buying buying opportunity. Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
NLong
by AsimMirzaTrader
2
KAEF BULLISH PENNANT IDONESIA STOCKS EXCHANGEA BULLISH PENNANT IS A PATTERN OF CONTINUATION, KAEF ALREADY FORMED AND BREAK THE PENNANT TRENDLINE, WHICH WILL LEAD KAEF TO AROUND 3750-3800 FOR THE FIRST TARGET PRICE. BEFORE START BULLISH IT MIGHT BE A PULL BACK TO THE AREA I MARK WITH A BLUE RECTANGLE (@3300~) IDX:KAEF THE FIRST TARGET PRICE IS 3750 - 3950 (REASON: PENNANT TARGET PRICE) THE SECOND TARGET PRICE IS 4170 - 4240 (REASON : FIBONACCI XAY : 1.618 CLUSTER WITH HARMONIC PRICEPROJECTION (HPP) : 78.6%) THE LONG TERM IF THE TARGET PRICE ALL TIME HIGH WILL BE 4860 - 4970 (XAY : 2.618 CLUSTER WITH HPP : 1.272) THE STOP LOSS AREA : 3090 DISCLAIMER ON!
IDX:KAEFLong
by RupinGoh