Pennant Bearish Complete Guide
What is Pennant Bearish?
The Bearish Pennant is a short-term continuation pattern that marks a brief pause in a strong downward move. It begins with a 'flagpole,' characterized by a sharp, nearly vertical price decline on heavy volume. Following this sell-off, the price enters a consolidation phase where the highs and lows converge, forming a small symmetrical triangle known as the pennant. According to Thomas Bulkowski in the 'Encyclopedia of Chart Patterns,' pennants are among the most reliable continuation structures, though they are short-lived, typically completing within one to three weeks. If the consolidation lasts longer than three weeks, the pattern may transition into a symmetrical triangle, which has different performance expectations. Volume is a critical component: it should be high during the formation of the flagpole, diminish significantly during the pennant's formation, and surge again upon the downward breakout. Bulkowski’s research indicates that bearish pennants in a bear market have an average decline of approximately 22% after the breakout. The pattern signals that sellers are temporarily catching their breath before pushing the price lower. Traders often look for a breakout below the lower trendline to confirm the resumption of the downtrend. The 'measured move' objective is calculated by taking the height of the flagpole and projecting it downward from the breakout point. While highly reliable, traders should be wary of 'false breakouts' and look for a close below support to confirm the move.
Identification Rules
- Une forte baisse des prix, presque verticale (le mât), doit précéder la phase de consolidation.
- The consolidation must be contained within two converging trendlines, forming a small symmetrical triangle.
- Le motif est de court terme, nécessitant généralement environ 15 barres (1 à 3 semaines) pour se compléter.
- Volume must decrease during the formation of the pennant and ideally increase on the breakout.
References
- Thomas N. Bulkowski (2005). Encyclopedia of Chart Patterns.
- Steve Nison (2001). Japanese Candlestick Charting Techniques.
FAQ
En quoi un fanion baissier diffère-t-il d'un drapeau baissier ?
Un fanion se caractérise par des lignes de tendance convergentes formant un triangle, tandis qu'un drapeau est constitué de deux lignes de tendance parallèles formant un rectangle.
What is the average success rate of this pattern?
Selon Bulkowski, les fanions baissiers dans les marchés baissiers ont un faible taux d'échec d'environ 10 % pour un mouvement de prix de 5 %.
Comment calcule-t-on l'objectif de cours ?
The target is calculated using the 'measured move': subtract the height of the flagpole from the breakout price.
Que se passe-t-il si la consolidation dure plus de trois semaines ?
Si la formation dure plus de trois semaines, il s'agit probablement d'un triangle symétrique plutôt que d'un fanion, qui présente des statistiques de performance différentes.
Un pic de volume est-il nécessaire lors d'une cassure baissière ?
Bien que pas strictement nécessaire pour les configurations baissières, un pic de volume augmente significativement la probabilité d'une continuation réussie.
More Analysis
Parts of this page (FAQ, introductions) are AI-assisted. Core data and statistics are algorithmically computed. All pattern definitions are human-reviewed.
Avertissement : Cette page est basée sur des données de marché publiques et une analyse technique algorithmique. Elle ne constitue pas un conseil en investissement.
Data source: EODHD · © 2026 KlineVision AI