A pattern similar to 2021 is taking shape. A bullish pennant.
In technical analysis, a pennant is a type of continuation pattern.
It's formed when there is a large movement in a security, known as the flagpole.
Then, the flagpole is followed by a consolidation period with converging trend lines—the pennant—followed by a breakout movement in the same direction as the initial large movement, which represents the second half of the flagpole.
In technical analysis, a pennant is a type of continuation pattern.
It's formed when there is a large movement in a security, known as the flagpole.
Then, the flagpole is followed by a consolidation period with converging trend lines—the pennant—followed by a breakout movement in the same direction as the initial large movement, which represents the second half of the flagpole.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.