The pennant resembles a small symmetrical triangle:
The pattern occurs after a rapid trend, as a rule, in the middle of the trend. While the pennant is forming the volume decreases and then increases sharply after the breakout. 5 to 15 bars are required to form this model.
Trading contest live at the London Investor Show FOREX 24 February 2012
More detailsRisk warning: Forex, spread bets and CFDs are leveraged products. They may not be suitable for you as they carry a high degree of risk to your capital and you can lose more than your initial investment. You should ensure you understand all of the risks.
Alpari (UK) Limited is authorised and regulated by the Financial Services Authority (FSA) in the United Kingdom. FSA Register number 448002.
VAT registration number 995939140. Company number 05284142. Registered office: 201 Bishopsgate, London, EC2M 3AB, United Kingdom.
Alpari (UK) is an independent entity within the group of Alpari companies.
