All patterns
Sirius-50 › MSFT (Microsoft Corporation) · 1h
Bear Pennant
FormingBearish
Quality57%
Drag to rotate, scroll to zoom.
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 29, 01:30 PM | Oct 29, 01:30 PM | 0 | 540.97 |
| P1 | Oct 30, 01:30 PM | Oct 30, 01:30 PM | 7 | 514.41 |
Bar #: candles counted from the pattern's first point. Times are candle open times.
Lines
- PoleOct 29, 01:30 PM · 540.97 → Oct 30, 01:30 PM · 514.41
- ResistanceOct 30, 01:30 PM · 514.41 → Oct 30, 07:30 PM · 516.31
- SupportOct 30, 01:30 PM · 526.66 → Oct 30, 07:30 PM · 524.67
This pattern's track record
On the 1h chart
16%
Target reached after breakout
- Breakout rate
- 58%
- Reached half the target
- 40%
- Average time to target
- 45 h
- Cases
- 37 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.