The Pair has formed a Pennant. Pennant is a continuous pattern

The pattern is trending downside and a retracement is seen on the upside forming a pennant. A breakout will be an opportunity to enter in the pair.

The pair closing below the trendline would be an opportunity to enter sell in the pair

Breakout can be in any direction if it's downward it would be a continuous  pattern and if the breakout is on the upside it will be a reversal pattern.

RSI is following the price, during breakout RSI following the price and ADX trading above 20 wpuld be an good setup to enter.

Pennant on 5min Time Frame

Dec 01 2022