The descending triangle reversal pattern at the bottom end of a downtrend is where the price action stalls and a horizontal support level mark a bottom. If the price action breaks to the upside from the descending triangle reversal pattern at the bottom, a trader can choose long positions.
investopedia.com/terms/d/descendingtriangle.asp
- Take your Long position now or at the break-out with volume
- Set Your TP based on the length of the Triangle from the break-out point
- Set Your SL under the lowest point in the Pattern
investopedia.com/terms/d/descendingtriangle.asp
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.