Reverse Triangle Pattern: RITES

A reverse triangle pattern is similar to a traditional triangle pattern, but with one key difference: the nose of the triangle points downwards, indicating a period of selling pressure. This type of formation can be used to identify potential areas of support and resistance, and even predict future price movements.

As the price broke multiple level of resistance, STOP LOSS is very important for this trade.

Reverse triangle patterns are a valuable tool for traders and investors alike, allowing them to identify potential areas of support and resistance and even predict future price movements. By understanding how to identify and use these patterns effectively, you can gain a competitive edge in the markets and make more informed trading decisions. Thanks for reading, and happy trading!