Beside the fact that the pennant is normally a continuation pattern and the symmetrical triangle could be both a reversal and continuation one. Geometrically-wise, what’s their difference? I don’t see any by looking at the shapes shown in the school of pipsology.
They’ve certainly very subjective and interpretative.
I don’t think there is much of a difference from looking at their shapes, though arguably there is from looking at their lengths (which relates, in a sense, to their “shapes”, perhaps?).
To me, a “pennant” is a short symmetrical triangle. Up to a certain (variable) length, people call them “pennants”, but above that length, they’re often referred to as “symmetrical triangles” or “rising/falling wedges”, aren’t they? I’m not particularly impressed by the usefulness of these chart patterns, I have to say - and especially pennants that slope in the same direction as the general price trend seem to me to be of very little, if any value.
There are probably some good examples on Thomas Bulkowski’s site? (thepatternsite.com, if you haven’t seen it.)
Hello dbrn
Pennants and Triangles differ in time as lexy mentioned. A pennant can be formed by three simple bars only whereas a triangle needs more than that. Another difference is the pennant (flags as well) are considered half masts and used for measuring implication. They are more common during explosive trends, occurring in the middle of the move (hence the term “half mast”).
Oh, I didn’t know this site, I’m going to check it out.
So, pennants are shorter than symmetrical triangles. It makes sense.
Thanks for your answers!
Hi dbrn,
The only difference i could find is the FLAGPOLE attaching few pics that i found on google.
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Doesn’t really matter.
Both patterns are consolidation patterns. The longer the time of consolidation is (normally), the bigger then breakout move will be.
As long as you know that they’re there, you can plan a good trade.
If there’s anything you have to note, it should be a good signal after the breakout happens. Breakouts themselves are risky to trade so further planning might be needed.