GBPUSD | Why This Pattern Today?

A corrective pattern like the descending triangle usually begin to form when the price is pausing from the predominant trend movement.
This happens too often when any big news is expected to be published in the near future.
Like today that we have NFP

1. Price makes the first Impulsive move

2. The next stage is the corrective movement. Here we can see market players waiting for the news to come out or for a specific situation to be clarified.

3. During these moments we see that the buyers are positioned at the bottom and the sellers at the top of the support area.

4. Until the price breaks above or below the pattern, we will never know if this pattern will change trend, or it will continue to move with the prevailing trend.

6. Trading within the model is risky but can be done with strict rules and commercial management.

6. The Descending Triangle is usually a bearish continuation pattern.

Thank you and Good Luck!

Comentário:

How the continuation pattern developed.

Comentário:

GBPUSD - it keeps moving lower