All patterns
Nova-92 › XAUUSD (Gold (PAXG) / US Dollar) · 15m
Bear Pennant
Breakout confirmedBearish
Quality59%
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Draw it on TradingView
No bar counting. Copy the Pine Script and paste it into TradingView; the pattern, breakout, target and invalidation lines are drawn on exactly these candles.
- 1.Copy the script and open the chart on TradingView.
- 2.Open the Pine Editor at the bottom, clear it and paste.
- 3.Click "Add to chart"; the drawings appear.
Swing points
| Point | Candle open (UTC) | UTC | Bar # | Price |
|---|---|---|---|---|
| P0 | Oct 30, 09:00 AM | Oct 30, 09:00 AM | 0 | 4,003.98 |
| P1 | Oct 30, 02:15 PM | Oct 30, 02:15 PM | 21 | 3,905.09 |
| BRK | Oct 30, 05:00 PM | Oct 30, 05:00 PM | 3,908.01 |
Bar #: candles counted from the pattern's first point. Times are candle open times.
Lines
- PoleOct 30, 09:00 AM · 4,003.98 → Oct 30, 02:15 PM · 3,905.09
- ResistanceOct 30, 02:15 PM · 3,905.09 → Oct 30, 04:00 PM · 3,906.95
- SupportOct 30, 02:15 PM · 3,939.15 → Oct 30, 04:00 PM · 3,927.77
This pattern's track record
On the 15m chart
5%
Target reached after breakout
- Breakout rate
- 61%
- Reached half the target
- 12%
- Average time to target
- 2.5 h
- Cases
- 21 resolved cases
All timeframes
16%
Target reached after breakout
- Breakout rate
- 56%
- Reached half the target
- 34%
- Average time to target
- 5.6 days
- Cases
- 100 resolved cases
What is this pattern?
The rest area is a small converging triangle. A close below its lower line targets the pole length lower.
A close above the pennant high invalidates the pattern.
This is not investment advice. Patterns describe probabilities; the same pattern can resolve differently. Levels use classic technical-analysis measuring rules.