A descending triangle pattern has formed on the daily chart of the spot Brent oil. It follows a long-term downtrend in the oil price and can be used for a bearish breakout setup. The triangle's borders are marked with the yellow lines. The cyan line is where my potential entry level will be. It is located at 10% of the pattern's height below the lower border. The green line denotes my take-profit level. It is set to the 100% of the pattern height plotted below the lower border. I will set the stop-loss level to the triangle's highest point (81.710) - the red line. I will ignore bullish breakouts from this trend continuation pattern.
Ordre annulé
I have cancelled this trade setup as the descending triangle pattern was invalidated.
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You can find useful tools to detect, build, and trade chart patterns - all completely free on earnforex.com.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.