Bullish Pennant Chart Pattern

Bullish 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 joiner at this class. For this reason, we should repeat some things again!

Don't worry!
We will not talk more unless words!
We want to give you best from our class!

So, listen! Pennant chart pattern is like symmetrical triangle chart pattern.

But the size is small than the symmetrical triangle pattern. On the other hand, Bullish pennant patter will come after a strong up movement. It gives the chance to buyer to take power to make a new top again.

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.

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

We think you are so amazed ! And you want to go to your chart to make money by seeing this upward movement!

To be a trader you should make dead your greedy mind first. Greediness is one of the main enemies of a Forex trader.

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

We are going to our next class. Don't miss that one which is about Bearish pennant chart pattern.