A worked example that explains the rule, not a stock price. The circle marks the first close beyond the level. The blue line is the target. The orange line is the invalidation. Prices are in the right-hand column, and sessions sit under the volume bar.Hollow green candles closed above their open, and filled red candles closed below it.
Numbers in the example chart
From the same calculation that draws the shape and writes the "Measuring the target" section below.
Trigger level
$40.3 · at the close of session 37
Target
49.9$
Invalidation
39.5$
Pattern height
9.6$
Chart span
64 sessions
What it is
Like the bull flag, but the pause is a small contracting triangle, not a sloping channel. The range narrows from both sides: a short balance before the push resumes.
When the trigger starts and when it fails
Signal
A close above the pennant's upper side on a volume jump.
PennantA small symmetrical triangle, days not weeks, with shrinking volume.
BreakoutOn a volume jump. ⚠ What separates it from a symmetrical triangle is its duration and its pole, not its shape · a triangle with no pole isn't traded with a pole target.
Recognition rules
A sharp rising pole.
A small symmetrical triangle whose two sides converge.
Short duration (days) · a pennant that drags on becomes a triangle.
Volume shrinks with the triangle, then jumps at the breakout.
Measuring the target
The pole's length is added to the breakout point.
Where it fools you
What separates it from a symmetrical triangle is its duration and what came before it, not its shape. A triangle with no pole before it isn't a pennant and shouldn't be traded with a pole target.
Open the daily timeframe for any symbol and draw the pattern yourself. Your drawing is saved per symbol in your browser, and the terminal does not name or detect the pattern.
╱ TrendlinePennant
⇕ MeasureTarget equals pattern height
We do not detect chart patterns with a numeric rule: telling them apart takes judgment on the chart. Candlestick patterns with a numeric rule are detected daily by the candlestick pattern scanner.
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