Descending Broadening Right Angle

FX:USOIL   CFDs on Crude Oil (WTI)
43 0 0
Only for self study..

The Descending Broadening Right Angle is a bullish reversal pattern.
The classic strategy:
Entry: Take a long position at the breakout of the resistance
Stop: The stop is placed below the resistance line
Target: Theoretical target of the pattern
Advantage: The target of the pattern is often reached (90% of cases) and pullbacks are not frequent

The aggressive strategy :
Entry: Take a short(long) position at the third contact with the support
Stop: The stop is placed below the last lowest
Target: Opposite band of the triangle
Advantage: The amplitude of the movement will be important in case of rebound towards the opposite band.
The risk is low
Disadvantage: Downward breakouts occur in 33% of cases.

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