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 negative trend ; 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.

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

For Downside Breakout the pair has to close below the support with price trading below the long and short EMA and DMI- trading above DMI+ and ADX trading above 20.

Descending Triangle Formation

Jan 22 2023