Daily timeframe - Descending Triangle

Major Market Pattern

Descending Triangle = Bearish

Price pattern can be easily viewed on the Weekly and Daily timeframes.
- 13 week consolidation. Strong support at 1.2250. Resistance at 1.2500.
- Candlestick on Weekly timeframe slope downward. Daily timeframe shows more details.
- Last 3 Weeks on the Weekly chart Moving Averages squeezed closer together - signaling possibly momentum shift.
- High Risk / Reward opportunity