Descending Triangle Short Opportunity

3 kwi 2018

A descending triangle pattern has been forming on the NZD/USD 4 hr chart. The highs have continually gotten lower and the base of the triangle has been acting as strong support. For a potential short opportunity, watch for a break in the base of the triangle and a retracement back to test the base for resistance. In an ideal descending triangle, the target range is the vertical part of the triangle (blue line).

Disclaimer: this is just an idea and is not investment advice. Trade smart!