Bulkowski says... a tight pennant performs better than a loose one and this one is a bit loose. Also, "pennants perform best within a third of the yearly low."
What say you, Wiz?
Here's the measure rule.
Compute the height from the start of the price swing (point A in the measure rule figure to the right) to the end of the price swing (B) and then multiply it by the above 'percentage meeting price target.' Add it (upward breakouts) to the bottom of the pennant (C) or subtract it (downward breakouts) from the top of the pennant (C) to get the target (D).
"Pennants are the workhorses of the day trader. They perform an invaluable service by marking the midway point in a move. However, they only work in this manner about 30% of the time."
He says it should be a symmetrical triangle (close enuf?), three weeks or less in duration (spot on), and the trend leading to the pennant should be steep (yippee!). 1/3/25