What Does Descending Triangle Chart Pattern Mean?

Falling Wedge Trading Pattern

The descending triangle chart pattern in gold trading is formed in a downward trend and it shows that the downward direction of xauusd trading price movement is going to continue.

Descending triangle chart pattern is a continuation chart pattern that signals the current downwards gold market trend is going to continue.

Descending triangle chart pattern is also known as falling wedge chart pattern.

Descending triangle chart pattern shows that there is a support level that the sellers keep pushing each time moving this support level lower, and once it breaks xauusd trading price will continue to move downwards.

A downside penetration of the lower line of the descending triangle chart pattern is a technical sell signal for a market breaking out down from a descending triangle, and this indicates selling will follow.

What Happens to Gold Price Action After Falling Wedge Chart Pattern?

The gold market formed a descending triangle chart pattern during its downward gold trend which led to further selling and continuation of the gold downward market trend.

The technical sell signal is when price breaks the lower horizontal sloping line of the descending triangle pattern and selling resumes to push the xauusd trading price lower - continuation of the downward xauusd trend.