Pennant
A pennant is formed in a similar way to a triangle. The key difference is that the upper border of the pennant is directed downwards, the lower one is upwards. Usually the pattern appears after strong impulsive movements in the direction of the main trend.
bull pennant
A bullish pennant resembles a symmetrical triangle. Typically, a bullish pennant continues the current bullish trend. After breaking through the upper boundary of the pennant, a price movement equal to the size of the pennant is possible.
The universal pattern "Triangle" can portend both a reversal and a continuation of the current trend. Formed between two converging support and resistance lines. It is recommended to trade in the direction of the pattern breakout - if the price closes above the resistance line - buy, if the price closes below the support line - sell. The purpose of working out is the value of the base of the pattern (H) in points.
Ascending Triangle
"Ascending Triangle" - a pattern of continuation of an uptrend. Formed between the horizontal resistance level and the rising support line. After the price closes above the resistance level, purchases are recommended, the target of working out is the value of the pattern base (H) in points.
bear pennant
The bearish pennant is a mirror image of the bullish one. The figure appears after a strong price decline and ends with the appearance of a triangle in the form of a pennant. Usually a bearish pennant continues a bearish trend.
Descending triangle
"Descending Triangle" - a pattern of continuation of the downward trend. Formed between a horizontal support level and a descending resistance line. After closing the price below the support level, sales are recommended, the target of working out is the value of the pattern base (H) in points.
