Bullish Pennant.<p align="center"><img id="2820" class="imgNone" onload on·load v. on·load·ed, on·load·ing, on·loads v.tr. To load (a vehicle or container). v.intr. To load a vehicle or container. ="resizeImg(this,480)" src="http://www.ibtimes.com/data/bigimages/10267.gif" alt="" /> A Bullish Bullish Word used to describe an investor's attitude. Bullish refers to an optimistic outlook, while bearish means a pessimistic outlook. bullish Pennant Pattern is a <strong>bullish continuation pattern</strong> that usually follows a large run up in price. After a brief price consolidation in the pennant, prices generally continue in the same direction as the prior trend. A Bull Flag can be identified a long green candlestick Candlestick A price chart that displays the high, low, open, and close for a security each day over a specified period of time. that resembles a flagpole, and a pennant that is identified by two converging trend lines that form a symmetrical triangle. <strong>Measuring the move:</strong> Add the vertical distance of the flagpole to the breakout and this would give you an approximate price target for the next run up in price. <strong>Trading the pattern: </strong>Traders should be watching the upper trend line of the pattern. A bullish entry signal is when price pierces through the upper trend line.<strong></strong> |
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion