Gold Bear Flag

Published 19/01/2017, 01:51 pm

Originally published by Chamber of Merchants

A bear flag is a pattern which holds price until a break below the flag or above the flag.

What we have below is a gold bear flag that can be charted two ways…one way for bears and one way for bulls… When the one fails, then most traders move to the next pattern out of hope…

A failure to hold the pattern signals a return to the initial price or a fall to lower lows.

Keep in mind that a bear or bull flag will usually be retested before being abandoned.

Gold Chart Bear Flag

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