Sentences with phrase «pennant pattern»
A pennant pattern refers to a chart pattern in technical analysis that resembles a pennant. It is formed when there is a strong price movement followed by a consolidation period, where the price forms a triangular shape similar to a pennant. This pattern is usually seen as a continuation pattern, indicating that the previous trend is likely to resume after the consolidation. Full definition
The Bitcoin price has recently jumped by 4 % higher, as BTC / USD breaks out of a bullish pennant pattern seen on the 1 - hour time frame.
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Technically, BCH / USD has formed a bearish pennant pattern observed on the daily time frame, support of the lower trend line currently tracking around $ 625, where the upper resistance is seen at $ 680.
The late - week price action has formed a bearish pennant pattern on the daily chart.
Thirteen months ago the Power of the Pattern suggested that the Shanghai Composite was breaking below a multi-year flag / pennant pattern at (1) in the chart below.
The one exception was the financial sector, which was showing relative strength and forming a bullish pennant pattern near its highs.
This is a classic pennant pattern and is marked in the chart in blue color.
This chart pattern indicator for Metatrader 4 shows flag and pennant patterns for any currency pair on any time frame.
The December e-mini S&P stock index futures daily chart has seen a big and bearish pennant pattern develop, following recent volatile price action.
As shown below, $ XBI has come into support of its 40 - week moving average (similar to 200 - day moving average), while also forming a bullish pennant pattern:
Comex gold has been trading in a pennant pattern during the past 12 months or so.
The Pennant pattern is a continuation indicator, or one that suggests a stock's price will continue on the same path as it was before.
That completes the Pennant pattern.
Whenever a stock breaks out of the pennant pattern, it typically continues its previous trend (uptrend in this case).
# 10 Pennant Pattern: As seen from the weekly chart, the stock was in a strong uptrend after which it started consolidating and was in a narrowing range.
Flags and pennant patterns are considered to be continuation patterns.
A push above the solid chart resistance line at last week's high would negate the pennant pattern and give the bulls fresh upside technical momentum.
Then, two inside bars form, making a pennant pattern.
Technically, BTC / USD has seen a move out of the bullish pennant pattern, which now paves way for a retest of the $ 9,000 region.