Well, damn, what a story! This pennant in trading is no simple thing, I tell you. It seems like a useful figure for determining trend continuation, but in reality, it's not so rosy.
Here's what I think - traders rely too much on these pennants. As if it's some kind of magic wand that will always show where the price is going. But in reality, if you believe the research of the same Bulkowski, more than half of these pennants don't work at all!
And here sit these poor traders, drawing their little triangles on the charts, and then they wonder why their accounts go into the negati
View OriginalHere's what I think - traders rely too much on these pennants. As if it's some kind of magic wand that will always show where the price is going. But in reality, if you believe the research of the same Bulkowski, more than half of these pennants don't work at all!
And here sit these poor traders, drawing their little triangles on the charts, and then they wonder why their accounts go into the negati