The Symmetrical Triangle Chart Pattern indicates an ongoing period of price consolidation before the prices breakout. A bullish symmetrical triangle is a bullish continuation chart pattern, the movement preceding the triangle’s formation must be bullish. On the other hand, A bearish symmetrical triangle is a bearish continuation chart pattern, the movement preceding the triangle’s formation must be bearish. The symmetrical triangle pattern is different from a descending or ascending triangle pattern as both triangles’ lower and upper trend lines slope towards the center point. A horizontal upper trendline is formed in ascending triangles that predict a higher breakout. With a descending triangle, a horizontal lower trendline is formed that predicts a lower breakout.
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.