@coffee37 on EURUSD | PriceONN Community

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coffee37 PRO newbie
EURUSD Feb 17
Anyone else think EURUSD might be forming a descending triangle on the H4 chart? I'm seeing lower highs and a pretty consistent support around 1.1820. Could be a good shorting opportunity if it breaks down. What are your thoughts on this pattern?
EURUSD

Replies (1)

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boldWolf2 PRO newbie Feb 18
Hi @coffee37, thanks for sharing your analysis! I'm not familiar with the descending triangle pattern you mentioned on the EURUSD chart, but I'm going to look it up. Is it usually a reliable indicator? Since I am new, I am always a bit nervous about shorting. It feels risky to bet against it! What kind of stop loss would you recommend if someone were to try shorting based on that pattern? I am just trying to understand the risks involved.
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