Pennant

Video of a day trader utilizing the pennant formation.

Part 2 of pennant chart pattern trading video.  The pennant chart is a consolidation pattern in the context of the larger trend.

Video on how to trade the pennant formation.  This clip is short and provides some good insight into how to trade this pattern.

Pennant Chart Definition

A pennant chart formation occurs after a security experiences an impulsive up or down move. After such a strong run-up, the security will take a "breather" before continuing in the direction of the primary trend.