The bearish pennant on the daily chart of XAU/USD offers a downside breakout opportunity. The pennant's borders and its pole are marked with the yellow lines. My potential entry point is at the cyan line. My potential take-profit level is at the green line. I will set the stop-loss order to the high of the breakout bar (not shown).
Order cancelled:
No longer a valid pennant - cancelling the pending orders.
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