Hello Everyone,
Here we have very well pennant pattern sample on #USDCHF. If price breaks to the upside of pattern, we can look forward for long position, If breaks reversely then short position is also possible with nice rewards.
On Daily Chart, trend is up, so mostly we will see the pennant broken out through upside, according to the normal behavior.
After breaking of the pennant, please look at for more verification and after taking profit-1, it is strongly supposed to bring your stop loss to the break even point.
Please note that the ideas are not a recommendation for trading
!Good Luck!
Here we have very well pennant pattern sample on #USDCHF. If price breaks to the upside of pattern, we can look forward for long position, If breaks reversely then short position is also possible with nice rewards.
On Daily Chart, trend is up, so mostly we will see the pennant broken out through upside, according to the normal behavior.
After breaking of the pennant, please look at for more verification and after taking profit-1, it is strongly supposed to bring your stop loss to the break even point.
Please note that the ideas are not a recommendation for trading
!Good Luck!