Technical Glossary / Chart Patterns
Bull Pennant
A sharp rise followed by a small symmetrical triangle, then a break higher.
Teaching sketch. It shows the shape, not a live quote and not a trade signal.
Definition
A bull pennant is a continuation with a triangle pause instead of a channel pause. The pole is the impulse. The pennant is a brief coil of lower highs and higher lows. The break up completes it. It is a flag with converging sides.
How to identify it
Impulse up, then a small triangle that does not give back most of the impulse, then a close above the triangle. The pennant should be short in time relative to the pole.
Bullish reading
Trade the break of the upper side, risk under the pennant. The idea is that the market rested, not that it reversed.
Bearish reading
A break of the pennant's low cancels the bullish continuation.
Common mistakes
Letting the coil run for as long as the pole and still calling it a pennant. A long coil is a triangle in its own right.
Limitations
Pennants and flags are close cousins. Arguing the name matters less than whether the pause is tight and the break is real.
This note explains the term. A sketch shows the shape of the idea. Neither is a recommendation, a signal, or a comment on any security. Indicator settings and exchange conventions differ. Check the live chart and the contract specification before you use a number.