Tag Archives: pennant

Australia 200 – Weekly Outlook.Telstra dividend yield and other matters

The Index closed another 1% higher last week. By historical standards market valuations are by no means excessive. Even so, many investors who bought in recent months now have significant profits to protect and are, understandably, becoming trigger happy.  As the index tests technical resistance levels it continues … Continue reading

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Driving the wedge – GBPAUD set for an hourly breakout

Yesterday it was the triangle and today it’s the wedge setup on the hourly GBPAUD chart. Something that we have discussed repeatedly in the past is the need to look at higher timeframes before making your trading decisions and this … Continue reading

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Trading the Wheat Breakout – Some thoughts on Strategy

Wheat prices broke through the resistance of the pennant formation I discussed in a post on Tuesday as concerns over the US drought deepen. This is a case where an interpretation of the long term charts might assist in setting profit objectives

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AUD:JPY – Pennant Buy

Aussie Yen broke through the resistance of a small triangle formation yesterday. This has the look of a “pennant” type triangle.  Although the resistance line is a little flatter than a text book example, it’s a tight triangle within 2 … Continue reading

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Buy Gold on Pennant Breakout

When you look at the 4 hour chart of gold you can see the large symmetrical triangle that we have recently broken out of and the sharp rise in price that has followed from it. You can really judge the … Continue reading

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Pennant set ups – US Dollar

Hi everyone. The US Dollar fell sharply yesterday following Ben Bernanke’s statement. This has left a number of Pennant style patterns in dollar related charts. Two examples are EUR:USD and Gold as shown in the charts below. As I draft … Continue reading

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Wal Mart manages to break out of symmetrical triangle / pennant

This is a good example of consolidation occuring in price after quite a decent rally in price. Afterall this is what these types of patterns are all about. The reason why I have stopped short of calling it a triangle … Continue reading

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Walgreen (WAG) setting up in a Pennant Formation

Whilst we try to look for as many different types of trade setups as we can one of the patterns that we don’t see all that often is the pennant. The other day I got a question on the blog … Continue reading

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