Pennant Pattern and Wedge Patterns

Pennant and Wedge formations help traders catch good trading opportunities when trends begin. Pennants are useful in taking entries when a trend resumes from hibernation. On the other hand, wedge formations can indicate both trend continuation and reversal, because they both resemble small triangles. What sets them apart is that while pennants are sideways and horizontally symmetrical, wedge formation patterns are ascending or descending. First, we are going to discuss wedge and pennant trading patterns in detail. Then, we will look at what they are and how you can take advantage of them in your trading!