Descending Triangle
Deepak Nitrite Descending Triangle BreakoutDEEPAKNTR has formed a descending triangle channel in 1 hour time frame over the last few days.
Theoretically a descending triangle breaks out downwards.
The price is currently hovering just above the lower side support of the triangle pattern suggesting a breakdown.
Look for SHORTING opportunities after confirmation of breakout in intraday BELOW 480 levels.
TARGET is suggested @ 461
NOTE: Trade with confirmation of momentum & volume on lower timeframes, BEWARE of a fake breakout.
EURAUD WITH DESCENDING TRIANGLE FORMATIONHello Guys
We can see that EURAUD has Formed A DESCENDING TRIANGLE PATTERN in D1 Chart, which has m can be taken trade on either side based on the breakout, we are predicting that it’s gonna Go Up for a Buy trade, but in the end everything is depending on the Breakout , u can pocket 500 pips easily on this trade, hope you guys liked my analysis
Than You
All The Best Traders
How to trade descending triangle pattern....??HINDUSTAN UNILEVER is making descending triangle in 30 min time frame.
The descending triangle is a bearish formation.
It is usually forms during a downtrend as a continuation pattern.
There are instances when descending triangles form as reversal patterns at the end of an uptrend, but they are typically continuation patterns.
Most traders look to initiate a short position following a high volume breakdown from lower trend line support in a descending triangle chart pattern.
In general, the price target for the chart pattern is equal to the entry price minus the vertical height between the two trend lines at the time of the breakdown.
Tata Coffee - Breakdown - Descending TriangleTata Coffee has broken below from the descending triangle pattern on 30 mins time frame.
Initiate Sell.
Target: 66
Stoploss: 75