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             27 January, 2021
 

    
Category:  Articles » Finances » Currency-Trading

 

Pattern of Continuation: Descending Triangle Bearish

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         Views: 2122
2006-06-26 23:00:18     
Article by Ramano Richie

Descending Triangle Bearish occurs when sellers force buyers to hold their orders or to yield thus making breakout in market price.

Market price is trying to move downward but held by support level. Then highest prices are making descending pattern until market price could make breakout level to continue moving downward.

Well, some traders use this pattern to identify sell signals. They sell at the breakout level. But I don’t recommend you to do that. Most of the times would only bring you to false signals.

I only use this pattern to determine whether I want to keep my order or to exit from market. That means, when I sell a certain pair, and I found Descending Triangle Bearish Pattern then I will keep the order, assuming that price will make breakout at the support level and go downward just as we discuss here.

So the next important question would be “when do we exit from market?”

Draw short-term bearish trend line and notice the angle created between bullish trend line and horizontal line. Use the same angle to redraw bearish trend line after the breakout level. When market price crosses above the trend line then it's the right time for us to exit from market.

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