Descending Triangle Chart Pattern
Descending Triangle Definition
The Descending triangle is a trend continuation pattern typically formed in a downtrend that serves for existing direction confirmation.
The Descending triangle is represented by a narrowing price range between high and low prices, visually forming a triangle. The main distinctive feature of this type of triangles is that it generally has a descending trend line (resistance) connecting lower and lower highs and a horizontal trend line (support) connecting the low points at approximately the same level.When the price breaks below the support line (plus certain deviation is possible), usually somewhere between halfway and three-quarters of the way through the pattern, a sell signal is received.