Decending Triangle Pattern. #trading #tradingstrategy #bankniftyoptiontradingstrategy #forex

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A descending triangle is a bearish chart pattern that signals sellers are gaining strength and a breakdown may follow. It’s essentially the mirror image of the ascending triangle.
🔑 Characteristics of a Descending Triangle

- Flat Support Line: Price repeatedly finds support at the same level, forming a horizontal base.

- Falling Resistance Line: Each rally peaks lower than the previous one, creating a downward-sloping trendline.

- Volume: Often contracts during the formation and expands sharply on the breakdown.

- Implication: Suggests continuation of a downtrend, though occasionally it can mark a reversal.
📊 Trading Approach

- Entry: Traders often enter short positions when price breaks below the support line with strong volume.

- Stop-Loss: Placed just above the descending resistance line or the most recent swing high.

- Target: Estimated by subtracting the height of the triangle from the breakdown level.

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