descending triangle UERUSD 1H
The descending triangle pattern is one of the most popular chart patterns in technical analysis of financial markets. This pattern is usually considered as a signal of a possible price reversal. The descending triangle pattern looks as follows:
On the chart, it represents a resistance line (upper horizontal line) that connects the higher tops of price movements.
There is also a descending support line (lower sloping line) that connects the lower lows of price movements.
The triangle narrows towards the end of the formation, creating a visual triangle pattern.
The descending triangle pattern can be interpreted as a signal that sellers are becoming more active and price may start moving down. However, it is important to remember that no pattern is a 100% guarantee of market movement, and you should always consider other factors and indicators when deciding to trade.
On the chart, it represents a resistance line (upper horizontal line) that connects the higher tops of price movements.
There is also a descending support line (lower sloping line) that connects the lower lows of price movements.
The triangle narrows towards the end of the formation, creating a visual triangle pattern.
The descending triangle pattern can be interpreted as a signal that sellers are becoming more active and price may start moving down. However, it is important to remember that no pattern is a 100% guarantee of market movement, and you should always consider other factors and indicators when deciding to trade.
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