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FX.co ★ AUDCHF M5: Bearish pennant

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Technical Analysis Patterns

2024-10-29T18:00:55
Signal strength 1 of 5

AUDCHF M5: Bearish pennant

Bearish pennantThe Bearish pennant pattern has formed on the AUDCHF M5 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 0.5684 is broken through. Recommendations: Place the sell stop pending order 10 pips below the pattern’s low. Place the take profit order at the projection distance of the flagpole height.
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 AUDCHF