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Bull Pennant Pattern: How to Trade With a Bullish Pennant

A bullish flag is a popular yet widely misunderstood technical analysis pattern characterized by a rapid upward price trend followed by parallel downslope consolidation in price. The price increase resembles a flag pole, while the price consolidation is the flag. The triple bottom chart pattern is a technical analysis trading strategy in which the trader attempts to identify a reversal point in the market. Traders look for three consecutive low points separated by intervening peaks, creating a “VVV” shape on the price chart. The double bottom chart pattern is a technical analysis trading strategy in which the trader attempts to identify a reversal point in the market.

This candlestick pattern can signal a strong reversal from a downtrend and can be a valuable addition to your trading toolkit. To delve into the 3 White Soldiers trading strategy, read this in-depth guide. Make sure your target is realistic and in line with your risk management strategy. But there are subtle differences between bull pennant vs bull flag worth noting. Check our video by our trading analysts on how to identify and trade the bullish pennant pattern.

  1. It’s formed when there is a large movement in a security, known as the flagpole.
  2. When the price broke the apex level, there was a strong bullish uptrend.
  3. To check out the Abandoned Baby candlestick trading concept for 2023, dive into this detailed guide.
  4. Key factors like the strength of the prior uptrend pole and the tightness of contraction impact outcomes.

A rectangle is a well-established technical analysis pattern with a predictive accuracy of 85%. The pattern is flexible, can break out up or down, and is a continuation or reversal pattern. A rectangle can be bearish or bullish, depending on the direction of the price breakout. There are currently two trading platforms offering bullish chart pattern scanning and screening. TrendSpider and FinViz enable complete market scanning for bullish and bearish patterns.

Leveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors. We advise you to carefully consider whether trading is appropriate for you based on your personal circumstances. We bull pennant recommend that you seek independent advice and ensure you fully understand the risks involved before trading. Information presented by DailyFX Limited should be construed as market commentary, merely observing economical, political and market conditions.

I’ve taught many traders how to spot this pattern and use it to their advantage. This includes identifying an existing uptrend and the formation of a pennant after that uptrend has begun. The key is having a complete trade plan detailing entries, stop losses, profit targets, and conditional exit points.

They always start with a flagpole – a steep drop in price, followed by a pause in the downward movement. The pennant portion of the bullish pennant chart pattern is a primary element in this formation. It is a period of price consolidation that tightens from right to left. The price target for pennants is often established by applying the initial flagpole’s height to the point at which the price breaks out from the pennant. It has a small consolidation period before resuming its move up or down.

What is a Pennant Chart Pattern?

The prevailing expectation is for price to resume the original uptrend once the bullish pennant flag runs its course. So in most cases, we expect the equilibrium to resolve with a bullish breakout. One key psychological factor driving pennant patterns is the concept of market indecision.

How to Identify a Pennant Chart Pattern?

But a bullish pennant is such a poor-performing pattern it can be misleading and cause many false breakouts and small losses. Instead of moving up, the price broke out upward and made a small new high before continuing further consolidation. The research shows bullish pennants only make a price move of 9% after a breakout. This is very low compared to inverse head and shoulders or double bottom patterns. The origin of this pattern can be traced back to Charles Dow’s writings, which proposed that a triangle pattern is typically seen as a continuation of the current trend.

Forex trading costs

Tom Bulkowski’s research confirms an accuracy of 54 percent for bullish pennant patterns with an average profit potential of 7 percent. Visually, the pattern is similar to the bull flag as it consists of an uptrend (flag pole) and a period of the sideways price action (pennant). However, the bull pennant features converging trendlines that form a triangle instead of a flag. It is commonly viewed as a buy signal and a way of entering prevailing bullish trends. As is the case with all candlestick chart patterns, we have two options for an entry.


The most bullish chart pattern is the cup and handle, which has an exceptional bullish success rate of 95 percent. With a potential average profit of 54 percent, the cup and handle is the best bull pattern. Traders look for a strong volume increase to confirm the breakout.

The price gradually tightens and converges as the pattern develops. The pattern consists of Higher Highs and Higher Lows and gradually broadens by tilting toward the upside. Take the price difference between the starting point of the price decrease and the lowest valley of the pattern.

Eventually, the bulls win out and stock prices break out to the upside. Overall, statistics show the bull pennant tends to resolve less favorably. One comprehensive study analyzing hundreds of pennants found that the average price rise around 7% after the initial breakout to the upside.

This bullish pennant chart has been autodetected using TradingView’s pattern recognition algorithms. The psychology of a Bull Pennant is a tug-of-war between buyers and sellers. During the consolidation phase, both parties are assessing the situation, leading to reduced volatility.

How Much Do Bookkeepers Charge? Bookkeeping Rates & Fees

fixed pricing

After you your client’s needs, you’ll need to define your scope of work before you set your prices. The price you pay depends on a number of factors, including the volume of transactions, type of transactions, number of accounts, type of entity, the level of involvement on your side, etc. Fixed fee basis so you know exactly what it will cost each month. We will give you an exact quote for the work before you start, and firm deadlines for getting it done. Our agreement is done in writing and spells everything out so you know exactly what you are getting and what it will cost. Through the categorization, reconciliation, and books close process, your Live Bookkeeper ensures your books are accurate. Your bookkeeper will go over your reports to help you understand your financial situation, but may not provide financial or business advice (even if they’re a credentialed CPA).

Paychex review (2023): Features, pricing and alternatives – TechRepublic

Paychex review ( : Features, pricing and alternatives.

Posted: Mon, 23 Jan 2023 08:00:00 GMT [source]

I work a maximum of five hours per month for this client, which means sometimes I get my job done in less time. This is because bookkeepers who do not have experience working with venture backed startups usually are less efficient to get the job done. And since most accounts bill by the hour, this ends up costing more. Business Success Solution aims to empower accounting professionals to take charge of their business and double revenues while working half the time. Don’t end up doing more work without getting paid for your services – especially if it’s long-term. I work closely with my clients to develop their monthly bookkeeping packages.

Value-based pricing

Consider how frequently you provide services to a client when making up your mind about what to charge. Some clients will be a one-time deal, while others may need you on a regular basis (e.g., quarterly). Partnering with Patriot earned this accountant a 50% cost savings from his previous provider, decreased his time running payroll, and more!

  • This is one important way to remove emotion from pricing your services.
  • “Bench is so, so, SO much better than everything I ever did for bookkeeping. My accountants also breathe a sigh of relief when I email them a Bench spreadsheet in advance of tax prep meetings.”
  • You end up with clients who respect and value your services.
  • So how do you continue to grow while ensuring you’re not missing deadlines?
  • I’m in charge of sending invoices out to their patients, so I look in the system how much we are supposed to be charging them.

bookkeeping services pricing and reports are delivered to clients via email unless otherwise specified by the client. We also utilize HubDoc as a means of securely receiving bank and credit card statements necessary in performing our work. Join thousands of entrepreneurs that choose to scale their businesses with Acuity. We’ve got the bookkeeping package that’s right for your needs – and your budget. Get started with one of our experts today and free up your time.


If I’m looking at a cleanup or catch-up project, I start with a paid diagnostic review so that I can get a full scope of work before I ever take on the cleanup. If you want to see how I get paid to diagnose my client’s problems, you should click here to check out the video I made on the subject! I also teach the full process in my online course called the QBO Paid Diagnostic Review System, also found in the 5MB Academy..