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A Descending Triangle

Profile photo of Nuno Lampreia – Forex.Today by Nuno Lampreia – Forex.Today
2015-09-03_21-18-25eurusd

2015-09-03_21-18-25eurusd

It helps of course to always plot trendlines on the charts to see if it is possible to visualize certain patterns that may make our life as a trader easier.

To the right hand side of the chart you may see a descending triangle.

Once the pattern is spotted we calmly wait for an outbreak to occur and try to trade in the same direction.

The longer the pattern is setting up the longer the move of the outbreak might be expected.

Today the news were of big help and once the trendline was broken a nice move with many pips took place.

Best of PIPS to all…

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