@oliver7950 on EURUSD | PriceONN Community
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Anyone else think EURUSD might be forming a descending triangle on the H4 chart? I'm seeing lower highs but pretty consistent support around 1.1840. Could be a bearish continuation pattern if it breaks down. What are your thoughts? Worth watching carefully imo.
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Update: Actually, looking at the D1 chart, that support is more like 1.1835-ish. Still a potential triangle, but a slightly different level to watch. Might adjust my SL accordingly if I decide to trade it.
@oliver7950, descending triangle is a possibility, but the price action is choppy. I'm seeing a potential fakeout. Watch for a break above 1.1810 before considering short positions. Volume confirmation is key.