Descending Triangle, either reversal pattern or continuation

29 oct. 2021

Chart Pattern detection. The descending triangle pattern seems to be forming on the GBPJPY pair. The market is bullish on the higher timeframes and what we are seeing could be the pullback extended out forming an ascending triangle. Which will be a continuation pattern for a bullish continuation. However we can see where the pattern is completed and price begin to break down to the sell side. My bias is neutral while siding for buy. We will continue to see how the market plays itself out.