EUR/USD 4-hour chart: Bull Pennant
A bull pennant on the EUR/USD 4-hour chart, bullish. The video shows how to spot it, where to enter and where the stop and target go.
- Pattern: Bull Pennant (bullish)
- Entry 1.12288, stop 1.11827, target 1.12713
Full transcript
The euro jumped hard, then stopped moving much.
October 16: on the 4-hour euro chart, a bull pennant confirmed today.
A bull pennant is a sharp rally, then a tightening triangle.
The shape squeezes into a smaller range after the rally.
Here, price closed above the upper edge at 1.12144, which is the confirmation.
From here, the measured target sits at 1.12713.
The invalidation level is 1.11827; a close below it cancels the pattern.
It remains in play, and neither level has been hit yet.
A pattern never guarantees its target, and the same shape fails just as often.
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AI-voiced; written and reviewed by the Borearis Research Team. For education only, not investment advice. Trading involves risk.