Technical analysis by De_Dommex about Symbol GALA: Buy recommendation (5/18/2024)

A descending triangle is a bearish chart pattern used in technical analysis to predict a potential downward price movement. It's formed by drawing two converging trend lines: 1. A descending resistance line (upper line) 2. A horizontal or slightly sloping support line (lower line) The pattern appears as a triangle, with the price action contracting and consolidating between the two lines. Here are some key characteristics: 1. The upper line connects a series of lower highs 2. The lower line connects a series of equal lows or slightly lower lows 3. The price action is contained within the triangle A descending triangle can be a powerful signal, but it's essential to combine it with other forms of analysis and risk management techniques to ensure a well-informed trading decision.