Analyze Bear Pennant Chart Pattern

How to Read Bear Pennant Trading Pattern

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

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

The bear pennant pattern above was just a consolidation period for the gold market trend prior to more selling and resuming of the downwards xauusd trend. The continuation xauusd 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 gold price moved downwards.

How Do I Interpret Bear Pennant Chart Pattern