How Do I Analyze Bear Pennant Chart Pattern?

A Bear Pennant chart pattern is a bearish continuation pattern - This is a market trading signal which shows the current forex trend is taking a pause before resuming the current downward direction of the forex trading instrument.

If the Bear Pennant downward continuation pattern forms it signals which the market is taking a pause before resuming the current downwards trend. The Bear Pennant continuation pattern in a downwards trend is known as a falling flag which is interpreted that the forex price is consolidation but keeps moving lower & lower forming a chart pattern that looks like a falling flag. Traders should wait for a confirmation of this Bear Pennant chart pattern before opening a trade based on this bearish continuation chart pattern. Once there is a forex price break-out to the down-side then the Bear Pennant continuation chart pattern is confirmed and prices will then continue to move in the direction of the current downwards forex market trend.

How Do I Interpret Bear Pennant Chart Pattern?