Descending Triangle PDF Print E-mail
Tuesday, 18 November 2008 16:39
Before we get started on the Descending Triangles, let’s look at the Ascending Triangle trade that could have been initiated from last weeks email.



We set the target at the height of the triangle, and our stop was below the swing low before the first failed break. You could have entered at either break and the trade would have worked out for you. At this point, with so much volatility in the market, I would have started trailing the stop to lock in a little profit.
A Descending Triangle sets up the same way as an Ascending Triangle only in reverse.  Pictured below is a Descending Triangle on the EUR/USD 4 Hr Chart. The set up is the same for Target’s, Stop’s and Entries.
    1.    Target is equal to the widest point of the Triangle
    2.    Stop is above the latest swing high
    3.    Entry in on a confirmed break of the support line.

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