Bullish Pennant Breakout – A Powerful Continuation Pattern 🚀

A Bullish Pennant has formed and broken out, signaling a potential continuation of the upward trend. This pattern typically appears after a strong upward move, followed by a period of consolidation in the form of a symmetrical triangle.

What to Look For:

Entry: After a confirmed breakout above the pennant resistance

Stop Loss: Just below the lower trendline of the pennant

Target: Measured by the height of the initial flagpole added to the breakout point

📊 Why it Matters: The Bullish Pennant pattern is a technical continuation setup, suggesting that the price is likely to continue its previous bullish movement after a brief pause. It's often seen in strong markets and provides great risk-to-reward setups.

💡 Tip for Traders: Always wait for confirmation of the breakout with volume before entering the trade to reduce false signals.