Bearish Pennant Chart Pattern

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Bearish pennant chart pattern is a pattern which is a continuation chart pattern. We have said about this at our introduction with this pattern.

We are afraid of some new joiners at this class. For this reason, we should repeat some things again!

We want to make thing easy here! For this reason, we also want to remember you some important things again. So that you can keep them easily in your mind!

Pennant chart pattern is like symmetrical triangle chart pattern. But the size is small than the symmetrical triangle pattern.

On the other hand, Bearish pennant pattern will come after a strong downward movement. It gives the chance to sellers to take power to make a new downtrend again.

chart pattern pennant

Remember that a bullish pennant usually comes after a strong upward move.

On the other hand, you should remember also that price can make reversal. This is very rare.

But you should keep this at your head.

Forex chart pattern analysis

What about take profit?
Okay, then see the image above to measure your take profit and see also how the pattern has worked.

To set up target profit, we will take the previous upward movement size to the pattern formation. So, you should consider that.