How to Identify a Descending Triangle Pattern on Forex Charts To spot a descending triangle pattern in forex charts, you must observe three key components: a support level, a resistance level and ...

All triangle patterns are some of the easiest technical formations to spot on a chart, and they also give us an easy-to-predict expected move on a breakout.

Mapping a trend's data can result in a descending, ascending, or symmetrical triangle. Let's take a closer look at what these triangle patterns mean for your Forex trading strategy.

A descending triangle is a high-probability setup if the breakdown occurs on high volume, and is more reliable than a symmetrical triangle pattern.

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According to Bulkowski (the undisputed authority on chart patterns), descending triangles break up 53% of the time. Further, when the triangle occurs in an uptrend, it is likely to break up 63% of ...

It’s tracing out a descending triangle chart pattern, which usually resolves in a bearish move. If 3.70 on the nearest contract breaks, one more reason to play better defense.