Descending Triangle Pattern

Decending Triangle Pattern

Descending Triangle Pattern – The descending triangle is generally considered to be a bearish pattern that indicates distribution and is usually found during down trends (see Figure 1 and Figure 2). Figure 1 Descending triangle in a down trend — bearish. Figure 2 Descending triangle showing apex, pattern height and breakout. It is the bearish counterpart of an ascending triangle. A descending triangle is formed when the price makes lower highs but the lows keep occurring at the same price level due to support. The odds favor a downside breakout…

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