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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?


To: John Pitera who wrote (2557)8/7/2000 10:30:45 AM
From: John Pitera  Read Replies (1) | Respond to of 33421
 
Textbook example of a bearish Descending Triangle in Sept Cocoa.

geocities.com

In a descending triangle you have the sellers selling at
progressively lower levels, while you have a buyer or
buyers who are holding the market at a horizontal low
point in price, most times when prices are being supported
at a level creating a flat line of support it ultimately
gives way and a new down leg commences.