What Happens in Gold after a Bear Pennant Chart Pattern?

A Bear Pennant pattern is a bearish continuation pattern - This is a market signal which highlights the current trend is taking a pause before resuming the current down-wards direction of the market gold.

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

Learn More Courses:

• When Not to Trade Gold During Gold Holidays
• Support and Resistance Levels in Gold
• How Do You Open a Real XAUUSD Account from MetaTrader 5 Trading Software?
• What is the Interpretation of Bullish Ascending Triangle Chart Patterns?
• Different Types of XAUUSD Platforms
• How Do You Draw Channels in MT5 Trading Software?
• Complete Tutorial to Gold Strategies for Beginners
• Rate of Change Technical Indicator Explained