Analyze Bear Pennant Chart Pattern

How to Read Bear Pennant Setup

This bear pennant setup is found in a downward trend. The bear pennant pattern is a trend continuation pattern where the price retrace slightly with a narrow price action that has a slight upwards tilt. Sell signal is generated when price penetrates the lower line of the inverted bear pennant pattern. Pennant portion of this bear pennant pattern has price highs & price lows which can be joined by small lines which are parallel, giving the bear pennant pattern the look of a small channel - inverted pennant.

Interpret Bear Pennant Chart Pattern? - How Do I Interpret Bear Pennant Chart Setup

The bear pennant setup above was just a consolidation phase for the market trend prior to more selling and resuming of the downwards trend. The continuation signal from the bear pennant chart pattern was completed when lower line of this bear pennant pattern was broken to the downside after which the price headed downward.

How Do You Interpret Bear Pennant Chart Setup