what are common entry points for trading pennant breakouts 
common entry points for trading pennant breakouts are typically just above the upper trendline for bullish pennants and just below the lower trendline for bearish pennants the bottom linepennant formations are short term continuation patterns identified on price charts they re characterized by a small symmetrical triangle created by converging trendlines traders often use pennant formations to anticipate breakout points with the height of the initial strong move providing an estimate for potential price targets 