The bullish pennant pattern that has formed on the daily timeframe of GBP/CHF chart doesn’t look like a classical example of a bullish pennant. The pole of the pattern consists of several candles and lasts for almost as long as the pennant part. I believe that this doesn’t invalidate the trade setup offered by this formation. More important to me seems the fact that the pennant occurs inside an uptrend.
The chart below shows the pattern marked with the yellow lines. My...
Non-Standard Bullish Pennant on GBP/CHF Daily Chart
* This article was originally published here
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