The problem with this charting is that you're initially showing a pennant where nothing broke out above or below, but you are showing upward arrows showing price gains, as well as labeling this analysis as being "LONG.'' At the time of your drawing the pennant, that pennant was to be used to determine which direction that movement would be. Instead, you got ahead of yourself and decided that things would move up, completely ignoring your pennant that had not yet spoken.
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