Replies to post #29478 on Short Term Trading Member Forum

[ZiggyMarley123]

Jerry, what's your take on the next couple of weeks?

TIA

[BlissBull]

see for yourself, amigo...

http://www.google.com.br/search?hl=pt-BR&q=DESCENDING+TRIANGLE&btnG=Pesquisa+Google&meta=

[BuzzOnDaBeach]

The descending triangle is a bearish formation that usually forms during a downtrend as a continuation pattern. There are instances when descending triangles form as reversal patterns at the end of an uptrend, but they are typically continuation patterns. Regardless of where they form, descending triangles are bearish patterns that indicate distribution.

[BuzzOnDaBeach]

The descending triangle, also a variation of the symmetrical triangle, is generally considered to be bearish and is usually found in downtrends. Unlike the ascending triangle, this time the bottom part of the triangle appears flat. The top part of the triangle has a downward slant. Prices drop to a point where they are oversold. Tentative buying comes in at the lows, and prices perk up. The higher price however attracts more sellers and prices re-test the old lows. Buyers then once again tentatively re-enter the market. The better prices though, once again attract even more selling. Sellers are now in control and push through the old lows of this pattern, while the previous buyers rush to dump their positions. (And like the symmetrical triangle and the ascending triangle, volume tends to diminish during the formation of the pattern with an increase in volume on its resolve.)

http://www.chartpatterns.com/descendingtriangles.htm