Descending Triangle

Descending Triangle pattern

Descending triangles are similar to the symmetrical ones, with the difference that there is no higher lows, but a constant line of support that is regularly attacked by the bears and not yet broken. The fact that the triangle is descending, that is, going down, doesn’t necessarily mean that the breakout will be on the downside, even if some forex brokers might want to have you think like that. It could be either way. In any case, it’s usually a good idea to place your entry orders above the lower highs and below the support line.