The symmetrical triangle chart pattern can be quite reliable and predictable, and if you learn the rules for placement and continuation, it can also be extremely rewarding. Let’s look at exactly how this chart pattern is formed and then examine some of the key factors to consider when you’re attempting to predict the potential outcome.
The symmetrical triangle is a very elusive, yet repeatable pattern in the financial markets. It basically represents two converging trend lines between two highs and two lows. At some point, there must be a breakout in one of three different directions (up, down or to the side).
The symmetrical triangle pattern is a single-swing continuation chart pattern, and it’s one of the most reliable continuation patterns in technical analysis. Before we jump into the rules, you should know that it’s primarily a trend continuation pattern, meaning that it begins and ends on trendlines.
The symmetrical triangle is a chart pattern made up of opposing converging trendlines that enclose price action. It’s known for being one of the most reliable chart patterns because it forms in a predictable manner, and it gives traders a high probability trade setup. This article will discuss the rules for creating success with this pattern.
The symmetrical triangle is an extremely common pattern studied by technical analysts. The symmetrical triangle pattern is characterized by price consolidation between support and resistance, lower volume and a converging trend line. While the symmetrical triangle is considered to be a continuation pattern, once the breakout occurs, it can become a reversal signal.
It is characterized by converging trendlines and price movement confined between the two lines, which creates a contracting range. The pattern can be bullish or bearish, depending upon the starting point of the trendlines. As a result, the symmetrical triangle has two different interpretations: continuation and reversal.
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