Pennant Setup
A symmetrical triangle that forms after a strong price advance, with converging trendlines on both sides and contracting volume. Unlike a full symmetrical triangle, a pennant is small and brief — a 1–4 week pause in an ongoing trend. It resolves with continuation of the prior move.
Setup Criteria
- › Strong prior advance (the flagpole)
- › Converging upper and lower trendlines (symmetrical)
- › Volume contracts throughout the pattern
- › Duration: 1–4 weeks typically
- › Breakout in direction of prior trend
Entry
Breakout above the upper trendline on volume.
Stop Loss
Below the lower trendline.
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Pattern Diagram
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Pattern Info
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Difficulty
Beginner
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