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UsmanFarouk

EURUSD has formed Descending Triangle during downtrend

Short
Euro / U.S. Dollar (OANDA:EURUSD)  
UsmanFarouk  
OANDA:EURUSD   Euro / U.S. Dollar
Trend Analysis Harmonic Patterns Chart Patterns
1
0
trendanalysis harmonicpatterns chartpattern
EURUSD is presently printing LHs and LLs and has formed Descending Triangle during downtrend on 1H timeframe. Entry (Sell Stop) has been placed on downward breakout of the triangle whereas SL has been placed above previous LH. TP1 and TP2 have been proportionately set. No divergence on RSI was exhibited therefore it can be safely assumed that downtrend is likely to persist.
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