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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.
DankProfits DankProfits PRO PIVXBTC, D, Long ,
PIVXBTC: ***CRYPTO*** PIVX/BITCOIN Long scenario
21 0 5
PIVXBTC, D Long
***CRYPTO*** PIVX/BITCOIN Long scenario

Keeping the TA simple but the geometry for a bull pennant lies there, will PIVX be taken to new heights against bitcoin or is that a rejection we see with a bearish pennant forming a funnel now?!? Given the buying pressure seen withing the bullish bursts I wouldn't expect so but only time will tell.

tigerpause tigerpause PRO XBTUSD, 15, Long ,
XBTUSD: Breakout trade suggestion
19 0 3
XBTUSD, 15 Long
Breakout trade suggestion

Looks like a continuation pennant so this breakout I believe will mean move into a higher channel and then onwards and upwards. Watch for incursion back into the channel it's is currently in though - could stop you out if you're not aware of the risk.

JordanWillson JordanWillson PRO EURJPY, 120,
EURJPY: Very Clear Bearish Rectangle on EURJPY
23 0 1
EURJPY, 120
Very Clear Bearish Rectangle on EURJPY

Here you can see a clear image of a bearish rectangle, showing that the bearish trend halted and began to consolidate. It respected the rectangle perfectly for over 12 days without any large breakouts. As time moved on it was comfortably within the rectangle however at the same time was being squeezed into a bearish pennant. This was a case of waiting patiently to ...

andmk2 andmk2 PRO NTBR, D, Long ,
NTBR: Is this a breakout from the pennant Northern Bear has formed?
16 0 0
NTBR, D Long
Is this a breakout from the pennant Northern Bear has formed?

Is this a breakout from the pennant Northern Bear has formed? Wait and see.

DankProfits DankProfits PRO BTCUSD, 60, Short ,
BTCUSD: BITCOIN TREND REVERSAL/INV PENNANT OVERPERFORMED
50 0 0
BTCUSD, 60 Short
BITCOIN TREND REVERSAL/INV PENNANT OVERPERFORMED

As I'm sure everyone's aware bitcoin has of lately shit itself, some could have called it before the fundamental onslaught it took earlier in the week through technical analysis like i did from $4680 in #Metalpays Telegram group whilst others are biting their nails struggling to get to sleep haha. Regardless off the INV Pennant geometry within the price action we ...

DankProfits DankProfits PRO NEOBTC, 60, Short ,
NEOBTC: **CRYPTO** NEO/BITCOIN
134 0 1
NEOBTC, 60 Short
**CRYPTO** NEO/BITCOIN

I missed the position myself but here we can see a short Pennant/INV HVF on NEO/BITCOIN after a rejection bringing this pair back down for the end part of the trading week, concluding in another inverted set up projecting a target right next to our original set ups target possibly leading to over performance, will the targets be met?!? Let me know what you think ...

naynay97 naynay97 GBPCAD, 240, Short ,
GBPCAD: GBP/CAD pennant formation occured.
48 0 2
GBPCAD, 240 Short
GBP/CAD pennant formation occured.

This looks like a pennant formation as there were 2 wicks that were acting as support and momentum of the current movement is decreasing as well. Place stop loss below nearest support line and price will be taken at the next resistance.

DrGonzo87 DrGonzo87 FCTBTC, D, Long ,
FCTBTC: Factom's Giant Pennant
119 0 4
FCTBTC, D Long
Factom's Giant Pennant

Factom/FCT looks like it's coming to the end of a long consolidation and is nearing a breakout. If this breaks to the upside we could see a major price movement comparable to recent breakouts like Monero/XMR and DASH. Much of what happens next depends on Bitcoin, but I expect possibly a short-term sell-off to the ~300k satoshi area to retest new structure support ...

shaunsmith100 shaunsmith100 GBPJPY, D,
GBPJPY: Falling Wedge
50 0 2
GBPJPY, D
Falling Wedge

In theory this could be considered a falling wedge on a uptrend? So there for could be a decent long position to previous resistance. Alternatively it could be seen as a pennant pattern. So therefore it could go short. Any feedback appreciated :)

SOFRONOFX SOFRONOFX AUDUSD, 60, Short ,
AUDUSD: AUD/USD downtrend continuation
46 0 2
AUDUSD, 60 Short
AUD/USD downtrend continuation

Bearish pennant formed indicating a continuation of the downtrend. This market is coming up to an area of resistance which should trigger some movement to the downside and make a new low. NFP later this week so hopefully out before that.

timmynorin timmynorin AUDCAD, 15, Short ,
AUDCAD: AUDCAD short term SHORT setup
88 1 3
AUDCAD, 15 Short
AUDCAD short term SHORT setup

A good opportunity to get short, and also to "hedge" my NZDCAD long position. Break of pennant to the downside, broken line as resistance together with structure. Fibo 38.2 and 61.8 falls neatly together. Simple trade!

timmynorin timmynorin NZDCAD, 15, Long ,
NZDCAD: NZDCAD 15M short term LONG setup
43 0 6
NZDCAD, 15 Long
NZDCAD 15M short term LONG setup

Inside a forming bullish pennant we find a opportunity to get long with retest of trendline/lower pennant line which should act as resistance, together with the completion of a Cypher-pattern. I entered 0.95435 with target at 0.95633 Stop loss below previous support.

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