With descending triangles, trend lines converge with a horizontal trend line...
A triangle with a horizontal support as the lower boundary, suggesting that a breakout downside is impending.
The converse or opposite of an Ascending Triangle. A continuation pattern with bearish implications. Volume is normally higher at the lows and decreases as the upper, downsloping trendline is approached. A break below the lower horizontal line of the pattern, on increased volume, completes the pattern and reaffirms the downtrend in progress.
A pattern of corrective trading that develops between two converging lines where the support line is horizontal and the resistance line is declining. This pattern is generally described as a continuation pattern but can also be a reversal pattern.
A common reversal pattern that forms from a descending upper trendline and a horizontal bottom support line.
A variation of the symmetrical triangle where the resistance line is descending while the support line is horizontal. A break under the support area is viewed as bearish.
A sideways price pattern between two converging trendlines in which the upper trendline is descending while the lower line is flat. This is generally a bearish pattern.
The descending triangle chart pattern is also referred to as a "right-angle" triangle. The descending triangle shows two converging trendlines. The bottom trendline is horizontal and the top trendline slopes downward. The pattern illustrates lows occurring at a constant price level, with highs moving constantly lower. (See more information about the Descending Triangle Pattern).
