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Our current trend: The Pennant Formation
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Topic: Our current trend: The Pennant Formation (Read 1175 times)
The Fool
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Our current trend: The Pennant Formation
February 10, 2013, 10:22:18 PM
Last edit: February 11, 2013, 04:26:44 AM by The Fool
#1
Quote
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?
Quote from: The Fool on February 11, 2013, 04:21:26 AM
Quote from: Merralea on February 11, 2013, 01:51:54 AM
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
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Third Way
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Re: Our current trend: The Pennant Formation
February 10, 2013, 11:56:45 PM
#2
So, we'll have large volume (now), and in the forseable 1 to 3 weeks lowering volume, and then an explosion of volume?
blease resbond -> 1BYJKxpntNn6TZbM5M5CWkEb8vr8vDcBrr
Merralea
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Re: Our current trend: The Pennant Formation
February 11, 2013, 01:51:54 AM
#3
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
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Re: Our current trend: The Pennant Formation
February 11, 2013, 04:21:26 AM
#4
Quote from: Merralea on February 11, 2013, 01:51:54 AM
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
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Clown prophet
Re: Our current trend: The Pennant Formation
February 11, 2013, 04:32:38 AM
#5
Recent hourly bull pennants i saw
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Our current trend: The Pennant Formation
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