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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.
SprigganFX SprigganFX GBPAUD, 1D,
GBPAUD: Looking for the breakout in GBPAUD
30 0 0
Looking for the breakout in GBPAUD

My initial thoughts are that this is a bearish pennant, looking for the long-term break to the downside. However it is possible that there has already been a break to the topside (so maybe it's a descending triangle). The open of the Sydney session and price action through monday will aid to clarify whether it will be a long or short position. LONG: With the ...

Captain_Walker Captain_Walker PRO GBPMXN, 1W, Long ,
GBPMXN: Weekly breakout could be exploited
5 0 0
Weekly breakout could be exploited

GBPMXN (weekly) chart is showing some interesting features, which lead me to be long on lower time frames. There is some sort of triangle, wedge, or pennant following breakout. The pattern is holding above a level of support (at this time). Based on experience, this creates a probability for further moves north. The Aroon is showing that the bulls are still ...

ShaunBC ShaunBC AUDUSD, 1D,
AUDUSD: AUDUSD Area of Interest from Consilidation
42 0 0
AUDUSD Area of Interest from Consilidation

Consilidation shown in the triangle with higher lows and even lower highs. Current support level has been broken before: awaiting for confirmation of bounce or breakout. MA7 has crossed over MA20, suggests possible breakout for a short position. Also, ADX signalling a not so strong trend, strengthining the consilidation view.

crooksy crooksy GBPUSD, 15,
GBPUSD: Imminent pennant formation breakout GBP/USD
19 0 0
Imminent pennant formation breakout GBP/USD

Imminent pennant formation break out coming back on trend line support. Get on it! If break out goes long you can see my SL/TP on the chart, SL on previous low and TP target on the high of the pennant. But could go either way. I am going to wait to see how it plays out before making a decision. Good luck if you take the trade

tigerpause tigerpause PRO BTCUSD, 240,
BTCUSD: Possible bullish pennant?
92 0 2
Possible bullish pennant?

I'm not sure if this is a rising wedge (bearish), a pennant (bullish) or even an ascending triangle. Any comments?

tigerpause tigerpause PRO XBTUSD, 240, Short ,
XBTUSD: XBTUSD BTCUSD bearish pennant detailed analysis
577 2 4
XBTUSD, 240 Short
XBTUSD BTCUSD bearish pennant detailed analysis

I have been tracking a bearish pennant on XBTUSD for a number of days and it has just crossed the 3/4 duration marker, which means that it is likely to resolve soon. We are currently trapped below the 0.382 fib and even if we break into it again then we're rapidly running out of space in the pennant; it will resolve (one way or the other) by 2nd Feb. This pattern ...

cryptofunke cryptofunke BTCEUR, 240,
96 0 0
BTC/EUR deja vu

Long term resistance from the all-time-high now converging with short term support - and almost playing out the exact same pattern over the same period from 21st December to 5th Jan. In that instance there was a sharp break above the trend followed by a 25% drop. If we get a close above the pennant it may be worth considering a long position if it can go on to ...

cryptodisciples cryptodisciples IOTBTC, 60, Long ,
IOTBTC: IOTA/BTC - Are the Bulls Waking Up?
202 0 1
IOTBTC, 60 Long
IOTA/BTC - Are the Bulls Waking Up?

Hello Everyone! I am going to keep this short and sweet, as I believe this chart conveys what I could type out much better. As to how i found my trend lines, and created an overlay of diamond sections to isolate movement, is done by an amalgamation of a few techniques. Simplistically, IOTA has been bearish for some time, and a breakout is on the horizon, ...

tigerpause tigerpause PRO XBTUSD, D, Short ,
XBTUSD: Pennant party
11 0 0
Pennant party

One large pennant formed from 20k ATH, one smaller one recently and i have drawn what is probably a non-sensensical super pennant containing them both. You might be able to tell that i've been chart watching a little too much today!

lonewolf277 lonewolf277 PRO EURUSD, 60, Long ,
EURUSD: Bullish Pennant - Any Takers?
86 0 3
EURUSD, 60 Long
Bullish Pennant - Any Takers?

I'm still very much in the learning seat, so I would love any feedback regarding my pattern matching skills! I think this is a good bullish pennant match on the EUR/USD 1H chart, and is supported by a strong uptrend on the daily chart. Any traders considering taking this opportunity? Thanks for any feedback!

bartducheyne bartducheyne DATUSD, 15,
DATUSD: Spotting a pennant again ?
17 0 0
Spotting a pennant again ?

Hope that this time I'm right again, but looks like data is building up for a nice breakout again, put your stop losses, but don't put them to close because I expect it to go down hard again like previous times, before going up, also think if it doesn't come up straight it will eventualy

Ddraig69 Ddraig69 XVGBTC, 30,
XVGBTC: My First Pennant
47 0 2
My First Pennant

My fist attempt at recognising a pennant trend forming in XVG. Now where to buy!

bartducheyne bartducheyne YYWUSD, 15,
YYWUSD: Building up for part 3 of the #yoyow breakout #yywusd #bitfinex
70 2 0
Building up for part 3 of the #yoyow breakout #yywusd #bitfinex

I'm expecting it to go up to break trough the 0.6$, but be careful, to put a stop loss @ 0.51 don't put it to close this coin will go up, but I expect it to go down first and this kind of coins tent to go down a lot before a breakout. Also I'm not an expert this is just my idea, do your own analyses on the risk .

bartducheyne bartducheyne XRPUSD, 15,
XRPUSD: Looks like Pennant, brakeout part 3 incomming? (#Ripple, #xrp)
89 1 0
Looks like Pennant, brakeout part 3 incomming? (#Ripple, #xrp)

Volumes comming down, still about 10% down of yesterday and 14% the alltime high, volumes going down, I pretty shure we gonne see an other breakout in the short future, taking profit from 1.2-1.3 and stop loss @ .99, by max 1.1 or just hodl! This is one of the big coins in my opinion for 2018 and #iota.

bartducheyne bartducheyne XRPUSD, 45,
XRPUSD: Looks like Pennant, brakeout part 2 incomming? (Ripple, xrp)
324 3 3
Looks like Pennant, brakeout part 2 incomming? (Ripple, xrp)

To me this looks like a textbook version of a pennant and XRP is getting ready for a new break out. Japanese banks are using Ripple, I'm actually surprised it didn't rocket yet. https://twitter.com/Ripple Or am I missing something?

zippy1day zippy1day PRO BTCUSD, 120, Long ,
BTCUSD: BTC Pennant/Ascending Triangle
274 0 2
BTCUSD, 120 Long
BTC Pennant/Ascending Triangle

Whether it be either one of these patterns we are still very bullish!

zippy1day zippy1day PRO BTCUSD, 120, Long ,
179 0 5
BTCUSD, 120 Long
BTC Pennant

Looks good with a target $12384. http://thepatternsite.com/Blog-Dec08.html#P31

tigerpause tigerpause PRO XBTUSD, 15, Long ,
XBTUSD: Breakout trade suggestion
36 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.

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