How Do I Interpret Bear Pennant Chart Pattern Technical Analysis?

A Bear Pennant xauusd pattern is a bearish continuation pattern - This is a market signal which shows the current xauusd trend is taking a pause before resuming the current downwards direction of the market xauusd.

If the Bear Pennant downward continuation pattern forms it trading signals which the xauusd market is taking a pause before resuming the current downward trend. The Bear Pennant continuation pattern in a downward trend is known as a falling flag which signals that the gold price is consolidation but keeps moving lower and lower forming a xauusd pattern that resembles a falling flag. Traders should wait for a confirmation of this Bear Pennant xauusd pattern before opening a trade based on this bearish continuation pattern. Once there is a gold price breakout to the downside then the Bear Pennant continuation pattern is confirmed & gold prices will then continue to move in direction of the current downward gold price trend.

How Do You Interpret Bear Pennant Pattern Technical Analysis?