DESCENDING TRIANGLE : The descending triangle is a bearish formation that usually forms during a downtrend as a continuation pattern.
Successive lower highs are formed with price taking support at a certain level on downside every time.
Short term traders can use this pattern for trading, but long term as investors must stay away from a stock which is witnessing formation of descending triangle.
Once a the breakout is achieved on downside, it happens with huge volumes.
Successive lower highs are formed with price taking support at a certain level on downside every time.
Short term traders can use this pattern for trading, but long term as investors must stay away from a stock which is witnessing formation of descending triangle.
Once a the breakout is achieved on downside, it happens with huge volumes.