Bullish Pennant after Bullish Impulsive Move.
Notice that volume is declining as Price consolidates into the pennant.
We also have Divergence as RSI does not conform to Price Action making lower lows.
For profit taking targets, we set it at a 1:1 ratio of the flag pole measure from breakout of the pennant.
We enter long orders upon breakout of the pennant and place stop-loss orders below the previous low from the breakout.
Notice that volume is declining as Price consolidates into the pennant.
We also have Divergence as RSI does not conform to Price Action making lower lows.
For profit taking targets, we set it at a 1:1 ratio of the flag pole measure from breakout of the pennant.
We enter long orders upon breakout of the pennant and place stop-loss orders below the previous low from the breakout.