Technical Analysis - ​Chart Pattern - Bullish Pennant

Technical Analysis - ​Chart Pattern - Bullish Pennant
The Bullish Pennants signal indicator are that bulls are going to go a-charging again. This suggests that the strong ascent in price would resume after the short time of consolidation in price when the bulls amass enough energy to propel the price higher again. In this scenario, the price made a steep vertical increase before taking a rest.

​Just like we predicted, the price made another big move in rising direction after the breakout. To play this trade, trader can place the long order just above the white top of the pennant and stop below the bottom of the pennant to avoid fakeouts.