A continuation pattern similar to a flag but with converging trendlines forming a triangle. Often appears after a strong impulse move.
Technical analysis traders rely on Pennant Pattern to read price action objectively. Knowing exactly what it signals — and what it does not — separates disciplined chart readers from gut-feel traders.
A bearish pennant formed after the initial selloff, and the breakout below the lower trendline continued the downtrend.
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