The Inner Circle Trader
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The Inner Circle Trader. @TheInnerCircleTrade_Admin
The Ghost In The Machine. www.theinnercircletrade.com
Successful Forex Trader, Educator, Founder Smart Money Concepts.
Youtube: https://youtube.com/@InnerCircleTrader
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Bearish Rectangle Top

🔅The bearish rectangle top pattern functions as a reversal pattern when it occurs in a uptrend and the breakout happens to the downside.

🔅The price rise in a strong uptrend and then starts to consolidate between support and resistance levels.

🔅The consolidation marks a period of equilibrium when neither buyers nor sellers are stronger than the other party.

🔅This up-down struggle continues for a while and the pattern begins to exhibit the shape of a rectangle.

🔅In the case of a Bearish rectangle top chart pattern, the stop loss should be placed at the previous high of the pattern.

🔅The limitation for the target will be the previous support level which was formed before by the price action.
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