Rectangle Pattern (Bearish): Forex Chart Pattern

Bearish Rectangle Pattern

Formation

The rectangle pattern is characterized by two parallel trendlines representing support and resistance levels respectively connecting the most recent lows and highs of the price, holding a certain bunch of price fluctuations within.

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Target price

Following a bearish rectangle pattern formation the price is generally believed to fall at least to its target level, calculated as follows:

T = S – H,

Where:
T – target price;
S – support level (pattern’s low);
H – pattern’s height (distance between support and resistance).

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How to use Bearish Rectangle in trading platform

You can see the graphical object on the price chart by downloading one of the trading terminals offered by IFC Markets.

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