LogoLogo
Sniper Entry ProEzAlgo ProTradingHubDiscord
  • 🟢Getting Started
    • Why Use EzAlgo?
      • How It Works
      • What We Offer
    • Join EzTrades in Discord
    • What Is TradingView?
    • Memberships
      • 👀TV Crypto Watchlists
      • 💰Affiliate Program
    • 📑Recommended Brokers
    • ❓FAQ
  • 📖User Guides
    • EzAlgo V15.2
    • EzOscillator V6.2
    • Sniper Entry Pro V3.3
      • Displacement
      • Market Structure Shifts
      • High-Probability Setups
      • Dollar-Cost Averaging
    • Installation and Setup
      • How to Setup EzAlgo
      • Getting Started
      • How to Set Alerts
      • How to Update Indicators
      • Risk Management
      • Automation
  • 🎓Education
    • Technical Analysis
      • Price Action
      • Volume
      • Support & Resistance
      • Fibonacci Levels
      • Heikin-Ashi Candles
      • Elliott Waves
      • Chart Patterns
        • Continuation Patterns
          • Flags
          • Pennants
          • Rectangles
          • Triangles
          • Wedges
        • Reversal Patterns
          • Double Bottom / Top
          • Gaps
          • Head and Shoulders
          • Triple Bottom / Top
      • Candlestick Patterns
        • Abandoned Baby
        • Dojis
          • Doji Stars
          • Dragonfly Doji
          • Evening Doji Star
          • Gravestone Doji
          • Morning Doji Star
        • Engulfing
        • Evening Star
        • Hammer
        • Hanging Man
        • Inverted Hammer
        • Morning Star
        • Shooting Star
        • Spinning Top Black
        • Spinning Top White
        • Three Black Crows
        • Three White Soldiers
    • Technical Indicators
    • Risk Management
      • Cross vs. Isolated Margin
      • Dollar Cost Averaging
      • Leverage Trading
      • Spot vs. Margin Trading
    • Trading Rules
  • 🔗Official Links
    • EzTrades Discord
    • Sniper Entry Pro Website
    • EzAlgo Pro Website
    • Indicator Access
    • EzSMC Indicator (Free)
    • TradingHub Discord
    • TradingHub Website
    • YouTube
    • Instagram
Powered by GitBook
LogoLogo

Documents

  • FAQ
  • Introduction
  • Installation Guide

Community

  • Discord
  • YouTube

More

  • Affiliate Program
  • EzTrades Blog
  • TradingView

Copyright © 2024 EzTrades

On this page
  • Bullish Pennant
  • Bearish Pennant
  1. Education
  2. Technical Analysis
  3. Chart Patterns
  4. Continuation Patterns

Pennants

PreviousFlagsNextRectangles

Last updated 1 year ago

Bullish Pennant

A bullish pennant is a chart pattern used in technical analysis that is typically formed after a significant upward movement in price. This movement forms the pole of the pennant. After the rapid rise, the price consolidates or moves sideways, forming a triangular shape. This consolidation represents a period of indecision in the market as it decides the next direction of the price. The formation is completed when the price breaks out of the triangle in the same direction as the initial upward movement (continuation pattern), indicating that the price is likely to continue to rise.

Bearish Pennant

A bearish pennant is the opposite of a bullish pennant. It is formed after a significant downward movement in price, which forms the pole of the pennant. The price then consolidates or moves sideways, forming a triangular shape. This represents a period of indecision before the market continues in the same direction as the initial downward movement. The formation is completed when the price breaks down out of the triangle, indicating that the price is likely to continue to fall.

In both cases, the pennant is typically a short-term pattern lasting from one to three weeks. And the volume usually decreases during the formation of the triangle (the consolidation period) and expands on the breakout.

🎓