The M5 and M15 time frames may have more false entry points.
FX.co ★ GOLD M5: Bearish pennant
Signal strength 1 of 5
GOLD M5: Bearish pennant
The Bearish pennant pattern has formed on the GOLD M5 chart. It signals potential continuation of the existing trend. Specifications: the pattern’s bottom has the coordinate of 1792.83; the projection of the flagpole height is equal to 226 pips. In case the price breaks out the pattern’s bottom of 1792.83, the downtrend is expected to continue for further level 1792.68.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade