descending triangle in bearish trend

Aug 30, 2018

hey traders,

usdcad pair is in a clear bearish trend, as the market established a new low 1.29,
we see multiple retests of this zone following lower highs each time the market bounces from support.
such sentiment is called "descending triangle" and is considered to be trend continuation pattern.
As we see this pattern on the chart, we are waiting for a bearish breakout.
In order to not be caught by a bear trap, I insistently recommend you to wait for breakout confirmation
(at least let the market close below structure).

Target is projected from a triangle!

Good luck!

Aug 30, 2018

Note

pattern is violated