Descending pattern breakout on the upside has a good success ratio compared to downside.

The Pair is trading near the short and long EMA indicating no trend yet ; as per EMA studies price trading below/above the EMA's is one of the best trading strategies in trending markets, as the pair closes below the support or closing above the resistamce, selling/buying can be done in the pair. A crossover will be an extra confirmation indicating the trend.

For Breakout on the upside the pair has to close above long and short period EMA with RSI supporting the price and DMI+ trading above DMI- and ADX trading above 20.

Advice : Trade as per breakout.(Expected breakout upside)

Descending Pattern at Lower Level

Nov 20 2022