Our current trend: The Pennant Formation

[The Fool]

    

Pennants, which are similar to flags in terms of structure, have converging trendlines during their consolidation period and they last from one to three weeks. The volume at each period of the pennant is also important. The initial move must be met with large volume while the pennant should have weakening volume, followed by a large increase in volume during the breakout.

http://i.investopedia.com/inv/dictionary/terms/Pennant.gif

http://www.investopedia.com/terms/p/pennant.asp#ixzz2KXO3RFfo

Am I wrong?

http://bitcoincharts.com/charts/mtgoxUSD#rg30ztgSzm1g10zm2g25zv

Where exactly are you seeing this? What point of it do you think we're in--beginning/end/breakout?
Maybe we're not looking at the same thing. I don't see it at all.

It's not a perfect formation but it's there throughout.

https://i.imgur.com/wh41DOL.png

[Third Way]

So, we'll have large volume (now), and in the forseable 1 to 3 weeks lowering volume, and then an explosion of volume?

[Merralea]

http://bitcoincharts.com/charts/mtgoxUSD#rg30ztgSzm1g10zm2g25zv

Where exactly are you seeing this? What point of it do you think we're in--beginning/end/breakout?
Maybe we're not looking at the same thing. I don't see it at all.

[The Fool]

http://bitcoincharts.com/charts/mtgoxUSD#rg30ztgSzm1g10zm2g25zv

Where exactly are you seeing this? What point of it do you think we're in--beginning/end/breakout?
Maybe we're not looking at the same thing. I don't see it at all.

It's not a perfect formation but it's there throughout.

https://i.imgur.com/wh41DOL.png

[lucif]

Recent hourly bull pennants i saw