This pennant has a strong probability to generate a directional move, 15-20% in either direction. Wait for breakout and trade accordingly. Make sure to stay flexible and reverse the position if a headfake occurs.
Generally speaking, pennants usually continue the previous trend, and so a downwards breakout should be given a higher probability of occurring.
Generally speaking, pennants usually continue the previous trend, and so a downwards breakout should be given a higher probability of occurring.
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Headfake?
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No headfake! Positioned long at 12000
