Day Trading Pennant Chart Pattern

The video provides a real trading example of a pennant formation.  The pennant formation is formed after a strong rally, which is known as the pole.  When the security consolidates after this run, it can form a triangle before breaking higher again.  This triangle is known as a pennant.

After discussing how to identify this pattern, he then steps through the trade as it progresses and talks about how he sets his stop loss orders underneath the market.