Descending Triangle Short Opportunity
A descending triangle pattern has been forming on the NZD/USD 4 hr chart. The highs have continually gotten lower and the base of the triangle has been acting as strong support. For a potential short opportunity, watch for a break in the base of the triangle and a retracement back to test the base for resistance. In an ideal descending triangle, the target range is the vertical part of the triangle (blue line).
Disclaimer: this is just an idea and is not investment advice. Trade smart!
Disclaimer: this is just an idea and is not investment advice. Trade smart!
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.