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British Pound / Japanese Yen
Short

GBPJPY 4H Pattern Pennant

By CostyTrades
Updated
Pennants, which are similar to flags in terms of structure, have converging trend lines during their consolidation period and last from one to three weeks. The volume at each period of the pennant is also important. The initial move must be met with large volume while the pennant should have weakening volume, followed by a large increase in volume during the breakout.
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