CONTINUATION CHART PATTERNS:
BULLISH PENNANTS
A bullish pennant is the exact opposite of a bearish pennant.
It is a continuation pattern that marks a pause in the movement of a price halfway through a strong uptrend, giving you an opportunity to go long and profit from the rest of the price rise.
Bullish pennants occur just after a sharp rise in price and resemble a triangular flag as the price moves sideways, making gradually lower highs and higher lows. The uptrend then continues with another similar-sized rise in price.
This lesson will show you how to identify the bullish pennant and look at ways you can use it to profit from the second half of a strong uptrend.
A bullish pennant marks a pause in a price's movement, halfway down a strong uptrend. It gives you the chance to make a long trade, hopefully profiting from a second big price rise.
BULLISH PENNANTS
A bullish pennant is the exact opposite of a bearish pennant.
It is a continuation pattern that marks a pause in the movement of a price halfway through a strong uptrend, giving you an opportunity to go long and profit from the rest of the price rise.
Bullish pennants occur just after a sharp rise in price and resemble a triangular flag as the price moves sideways, making gradually lower highs and higher lows. The uptrend then continues with another similar-sized rise in price.
This lesson will show you how to identify the bullish pennant and look at ways you can use it to profit from the second half of a strong uptrend.
A bullish pennant marks a pause in a price's movement, halfway down a strong uptrend. It gives you the chance to make a long trade, hopefully profiting from a second big price rise.