Daily timeframe - Descending Triangle
Major Market Pattern
Descending Triangle = Bearish
Price pattern can be easily viewed on the Weekly and Daily timeframes.
- 13 week consolidation. Strong support at 1.2250. Resistance at 1.2500.
- Candlestick on Weekly timeframe slope downward. Daily timeframe shows more details.
- Last 3 Weeks on the Weekly chart Moving Averages squeezed closer together - signaling possibly momentum shift.
- High Risk / Reward opportunity
Descending Triangle = Bearish
Price pattern can be easily viewed on the Weekly and Daily timeframes.
- 13 week consolidation. Strong support at 1.2250. Resistance at 1.2500.
- Candlestick on Weekly timeframe slope downward. Daily timeframe shows more details.
- Last 3 Weeks on the Weekly chart Moving Averages squeezed closer together - signaling possibly momentum shift.
- High Risk / Reward opportunity
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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.
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.