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FX.co ★ AUDCAD M5: Bearish pennant

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Technical Analysis Patterns

2024-10-28T16:08:08
Signal strength 1 of 5

AUDCAD M5: Bearish pennant

Bearish pennantThe Bearish pennant pattern has formed on the AUDCAD M5 chart. This pattern type is characterized by a slight slowdown after which the price will move in the direction of the original trend. In case the price fixes below the pattern’s low of 0.9149, a trader will be able to successfully enter the sell position.
The M5 and M15 time frames may have more false entry points.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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Other patterns by AUDCAD