stephenleachman
Ausbildung

DESCENDING TRIANGLE (TREND REVERSAL)

FX:GBPJPY   Britisches Pfund / Japanischer Yen
308 0 18
The descending triangle as in all triangle patterns can be used as trend
reversals. It must be noted that the descending triangle must form at a
key level of support or resistance.This pattern forms as price pushes
into support or resistance and then consolidates making lower highs
and equal lows forming the descending triangle , Once price breaks
the pattern conforming the reversal, I personally always wait for a
pullback to the previous highs or lows to see if price will be resisted
or supported before taking a reversol trade. There are different
methods Like Fibonacci Retracements to find targets after a confirmed
reversol but I will lay out the conventional way which is the Distance
Between The Mouth Of The Triangle Added To The Breakout.

Conventional Way To Terad The Descending Triangle Reversal:

snapshot

-----Bearish Reversal-----
(1) Wait for price to push into key resistance.
(2) Wait for price to consolidate at that resistance forming an descending triangle .
(3) Wait for price to break and close below prior low. (The Triangles Lows)
(4) Sell pullback at prior low.
(5) Stop Above the previous Highs. (Also can use fibonacci retracements for stops)
(6) Target Is the Distance Between The Mouth Of The Triangle Added To The Breakout.

-----Bullish Reversal-----
(1) Wait for price to push into key support.
(2) Wait for price to consolidate at that support forming an descending triangle .
(3) Wait for price to break prior highs.
(4) Buy pullback at prior highs.
(5) Stop Below the previous Lows. (Also can use fibonacci retracements for stops)
(6) Target Is the Distance Between The Mouth Of The Triangle Added To The Breakout.
Deutsch
English
English (UK)
English (IN)
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
Bahasa Melayu
ภาษาไทย
Tiếng Việt
日本語
한국어
简体
台灣
Startseite Aktien-Screener Devisen Signal-Finder Kryptowährung Signal-Finder Wirtschaftskalender So funktioniert es! Chartmerkmale Hausregeln Moderatoren Webseite & Brokerlösungen Widgets Stock Charting Bibliothek Feature-Anfrage Blog & Nachrichten FAQ - Häufige Fragen & Antworten Hilfe & Wiki Twitter
Profil Profileinstellungen Konto und Abrechnung Meine Support Tickets Support kontaktieren Veröffentlichte Ideen Followers Ich folge Private Nachrichten Chat Abmelden