Looking at the higher timeframes, we can see that the sentiment of the market is bearish and the price is headed to the downside. Taking a look at the DAILY timeframe chart, it can be observed that the price has formed a nice descending triangle pattern. As it is stated in the book, after a descending triangle pattern has been formed, we should patiently wait for the breakout and re-test of the lower boundary of the triangle before entering the trade. Therefore, we will be closely monitoring the market and waiting for the price to break out of the triangle, before we can open shorts and aim for the south