The measuring technique is exactly the same as the ascending triangle in the sense that the analyst must measure the height of the pattern at the base to the left and then project that distance down from the breakdown point.
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How to Draw Descending Triangle Perfectly
The descending triangle is just a mirror image of the ascending, and is
generally considered a bearish pattern. Notice in Figures 6.4a and b the
descending upper line and the flat lower line. This pattern indicates that
sellers are more aggressive than buyers, and is usually resolved on the
downside. The downside signal is registered by a decisive close under the
lower trendline, usually on increased volume. A return move sometimes
occurs which should encounter resistance at the lower trendline.
The measuring technique is exactly the same as the ascending triangle in the sense that the analyst must measure the height of the pattern at the base to the left and then project that distance down from the breakdown point.
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Price Action Patterns
The measuring technique is exactly the same as the ascending triangle in the sense that the analyst must measure the height of the pattern at the base to the left and then project that distance down from the breakdown point.
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