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Pennants Pattern

Pennants are essentially small symmetrical triangles.

They can approach the trend from almost any direction and often occur after long trending periods when price pauses and traders reposition themselves.

Most traders make the common mistake of jumping on premature signals.

Instead, wait for the actual confirmation that price is breaking out of such a pattern. Usually, the breakout signal happens with a violent and strong candle indicating that the trend is ready to resume.


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