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Showing posts with the label descending triangle pattern

Learn 5 simple trading strategies based on the descending triangle pattern

The descending triangle pattern is a kind of chart sample typically utilized by technicians in price action trading. The sample normally varieties on the finish of a downtrend or after a correction to the downtrend. However, it may additionally happen as consolidation in an uptrend as properly. Chart technicians could make use of the descending triangle sample with the intention to commerce potential breakouts. BEARISH OR BULLISH? Contrary to standard opinion, a descending triangle will be both bearish and bullish. Traditionally, a daily descending triangle sample is taken into account to be a bearish chart sample. However, a descending triangle sample will also be bullish. On this occasion, it is named a reversal sample . To that time, the descending triangle will be considered as both a continuation sample and a reversal sample. The triangle continuation sample is your typical bearish formation. This sample happens inside a longtime downtrend. On the opposite hand, a descending tria


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