BAJAJ HOLDINGS & INVS LTDEducation
Simple Bullish Penant Flag
OBSERVATIONS :-
1) . As we know Pennant Flag ( Bullish ) is a Continuation pattern
2) First we can see the stock in Uptrend
3) Then it forms symmetric triangle with Flagpole
4) Then there was a breakout outside of the ascending triangle , we have to wait till it retest and then enter
5) You can go LONG / BUY the stock if retests and go further up after breakout
6) STOPLOSS - This can be set at the pennants last swing high
7) TARGET - This we can set as same as the width of the first penant high and low
1) . As we know Pennant Flag ( Bullish ) is a Continuation pattern
2) First we can see the stock in Uptrend
3) Then it forms symmetric triangle with Flagpole
4) Then there was a breakout outside of the ascending triangle , we have to wait till it retest and then enter
5) You can go LONG / BUY the stock if retests and go further up after breakout
6) STOPLOSS - This can be set at the pennants last swing high
7) TARGET - This we can set as same as the width of the first penant high and low
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.