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Descendingtriangle

oboloo Glossary

Descendingtriangle

Descending Triangle – A formation on a chart indicating that the price action of a security is likely to break downwards. This pattern is marked by two trendlines; one horizontal and one connecting lower highs, which converge as time passes resulting in a triangle-shaped formation. Traders watch for the security to break through the lower support line before taking a bearish position, anticipating a move downwards in the price.

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