EUR/GBP is Trading in a Descending Triangle

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By Deya Hroob



 This trade set up is based on a  daily chart.

 EUR/GBP is forming a descending triangle in daily chart. This is a continuation pattern.



Triangle pattern is a consolidation pattern that occurs mid-trend and usually signals a continuation of the existing trend. ( which is down in this pair).

How to Trade such Pattern?

 We should sell each time price touch the upper line with stop loss above the line.



If you are a conservative trader, you may sell when price breaches below the support line. It's usual that price retests the broken support line, so if you missed the breakout, you can trade the retest.

 Good Luck,

 


 


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