Caza. Long entry approaching?

Not at all Clarky, there might be someone reading this who tells me I'm talking tosh, that would be a good thing. It's only through questions that we open up discussion and find out if we're thinking along the right lines. Wish we could have more discussion to be honest.

I was just about to say "Ignore my last question - it was extremely dumb"

In the first pennant the 'flag' runs higher than the rising pole which favours a decent drop. In the 3rd pennant the flat runs back against the rising pole which favours a continuation (i.e. direction of the pole if I'm interpreting it correctly)

I am not up to speed on pennants if I'm honest, so not really that well versed to answer.

What is the difference between pennant 1 and pennant 3 to indicate pennant 3 is a reversal?

For the sake of discussion, am I interpreting the pennants on this chart correctly?


screencast.com/t/CbveIKtlbv

As I say though, imo, you are seeing the right signals, just tie those up with some confirmation signals, and support, and boom thats half the battle.

Managing your trade after that is the next step - thats something I can't give advice on.