Descending Triangle

The Descending Triangle is a bearish continuation or reversal pattern formed within a downward trend. It consists of two converging trendlines, An upper downward-sloping trendline connecting swing highs & A lower horizontal trendline connecting swing lows. When the price breaks below the lower trendline, it suggests a continuation of the existing downward trend. The potential downside target can be estimated by measuring the height of the triangle and projecting it downwards from the breakout point. In rarer cases, a break above the upper trendline can signal a reversal of the downtrend into an uptrend. However, this scenario is less common and requires stronger confirmation from other technical indicators or fundamental analysis.