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Descendingtriangletrading

DESCENDING TRIANGLE: BANK NIFTYA descending triangle is a bearish continuation pattern characterized by a series of lower highs (forming the upper trendline) and relatively equal lows (forming the horizontal support line). Traders often look for a breakdown below the support level as an indication of further downward movement. Traders SHOULD wait for a clear breakdown below the horizontal support line to confirm the pattern. Confirmation is important to avoid false breakouts, as sometimes the price can temporarily breach the support level but then rebound back into the pattern. Profitable Opportunities from Failure: The failure of a descending triangle pattern can present profitable opportunities, especially for traders who anticipate such reversals. If the price fails to sustain below the support level and starts to move back into the triangle, it could trigger a short squeeze or a reversal in sentiment. Traders can look for entry opportunities on the retest of the support-turned-resistance level or on bullish reversal patterns like bullish engulfing candles or double bottoms.
NSE:BANKNIFTYShort
by VanshikaUdeshi
EURUSD DESCENDING CHANNEL (SELL or BUY)The daily chart is where we get the overall perspective of where the market might be headed and can influence how the market behaves from other timeframes. now in this case we see EURUSD creating a descending channel right? yes, and we should be looking for sells because the market is still channeled in between right? However, my chat is that we should look at the little triangle created, what about it? The triangle is now telling us that price will either break above or below the triangle. Should that happen then we will be able to make an informed trading decision. If it breaks above, we will be surely buying this market. But be careful when this breaks below the triangle, because the market maker might just trap sellers. Why I say this, is because of the left leg directly under the triangle, so when the market breaks below, the market maker might just be looking to create a second leg that will complete the double bottom pattern. I have created a logical trading synopsis, it is fully your choice to read up. Unless you think this is utter gibberish!!!
by Tokoloho
Descending Triangle as Continuation and Bilateral patternDescending Triangle Pattern Tutorial : Descending Triangle is a bearish pattern and sometimes it also act as bilateral pattern. (about bilateral pattern in the previous post : "https://www.tradingview.com/chart/BTCUSDT/vYen5wAu-Ascending-Triangle-as-Continuation-and-Bilateral-pattern/") A Descending Triangle Pattern can be easily identified if you see a falling upper trendline along with a flat support. Also descending triangle have some shortcomings like it can occur false breakout and the price reverses same as Ascending Triangle. You need to see how strong the breakout was with the help of volume indicator at the time of breakout.
BITSTAMP:BTCUSDEducation
by tapasdhanadana
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