Ask Colin

Regarding pennants and symmetrical triangles. I am uncertain as to the difference between the two. Is it that pennants are more likely to form in strong trends and are drawn above and below individual bars whereas triangles are 'larger formations' that may mark the end of a trend as well as a continuation?

Yes. Pennants are small patterns that form in fast moving trends. They are always continuation patterns. Triangles are much larger patterns and may be continuation or reversal - you have to wait for the breakout to know.