Short

Pennant pattern

Pennants and wedges are completely the same as the triangles in trading. Something you have to be careful about is that you should not rush and take a position as soon as you think that you have found a pennant or wedge. You have to wait for the market to develop a complete pennant or wedge. Then you should wait for the pennant or wedge resistance (in case of a bullish market) or support (in case of a bearish market) breakout to go long or short. Sometimes, pennants and wedges are tricky and you have to be careful about this.

hopeman

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