This is usually a bearish pattern. The big trade is to wait for a breakout to either side. A short position can be opened here with a stop loss above the descending line. I will open a long position in FAZ (3x Financial Bear) at the market open this AM.
Komen
⋅
Europe banks are strong and US banks are strong in premarket. I expect the stop loss will be hit. Will watch for resistance approaching 25.3.