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FX.co ★ GOLD M5: Bearish Pennant

GOLD M5: Bearish Pennant

Bearish PennantThe Bearish Pennant pattern has formed on the GOLD M5 chart and signals a potential continuation of the existing trend. The pattern low is at 4034.90, and the projected flagpole height is 1280 points. If the price breaks below the pattern low at 4034.90, the downtrend is expected to continue toward 4034.75.
The M5 and M15 time frames may generate more false entry signals.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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