Pennants — the flag’s triangular cousin

A pole, then a tiny triangle

A pennant is almost identical to a flag. It starts with the same sharp pole, but the pause is not a parallel channel — it is a tiny symmetrical triangle that coils to a point (lower highs and higher lows squeezing together). Then price breaks out in the trend’s direction and resumes the move.

Everything else is the same as a flag: trade the breakout in the trend direction (after a close, or the retest), stop just back inside the pennant, and target the pole height projected from the breakout. Flag or pennant, the logic is one and the same — the only difference is the shape of the pause.

• Pennant = pole + a small symmetrical-triangle pause (vs a flag’s parallel channel).
• A continuation pattern: it resumes the trend, in the trend’s direction.
• Enter the breakout (or retest), stop inside the pennant, target = pole height.
• Treat it exactly like a flag — same trade, different pause.