πŸ“š πŸ’° Descending Triangle in GBPNZD - "Learn More Earn More"

FX:GBPNZD   British Pound / New Zealand Dollar

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Descending Triangle Definition:

A Descending Triangle is a type of triangle chart pattern that occurs when there is a support level and a slope of lower high.

It is defined by two lines:

. A horizontal support line running through valleys.
. A Downtrend line drawn through the peaks.
The lower highs indicate more sellers are gradually entering the market and selling pressure increases as price consolidates moving further towards the apex.

A Descending Triangle is classified as a continuation chart pattern.

If price can break through the support level , that level will now act as a resistance level .

Breakouts can also happen in both directions. Statistically, downward breakouts are more likely to occur, but upward ones seem to be more reliable.

In most cases, the sellers will win this battle and the price will break out past the support. But Sometimes the support level is too strong, and there is simply not enough selling power to push it through. Therefore you should be ready for movement in EITHER direction.


We would set an entry order below the support line and above the slope of the lower highs.

Target is approximately the same distance as the height of the triangle formation.

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Going on it, thanks!
+1 Reply
ForecastCity Pro_Trader_007
@Pro_Trader_007, Thanks for your kind comment.
great analysis
+1 Reply
ForecastCity adeelvirk15
@adeelvirk15, Thanks
You have a crystal ball!

Great analysis!

I follow you here and on Telegram,

Thank you very much!
+1 Reply
ForecastCity Best_Forecast
@Best_Forecast, Thank you for your feedback
Great charts mate , have you any stocks to trade in mind?
Do you have a youtube channel?
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