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What is a symmetrical continuation triangle (bearish)?

A Symmetrical Continuation Triangle (Bearish) shows two converging trendlines, the lower one is ascending, the upper one is descending. The formation occurs because prices are reaching both lower highs and higher lows. The pattern will display two highs touching the upper (descending) trendline and two lows touching the lower (ascending) trendline.

What is a symmetrical triangle pattern?

The Symmetrical Triangle is usually a continuation pattern. It represents a pause in the existing uptrend after which the original uptrend gets resumes. A breakout from the upper trend line marks the continuation of an uptrend while a breakdown from the lower trend line marks the start of a new bearish trend.

Are triangles a continuation pattern or a reversal pattern?

Triangles are similar to wedges and pennants and can be either a continuation pattern, if validated, or a powerful reversal pattern, in the event of failure. There are three potential triangle variations that can develop as price action carves out a holding pattern, namely ascending, descending, and symmetrical triangles.

How long does a symmetrical triangle take to form?

A Symmetrical Triangle pattern usually takes a few months to form. If the duration is only a few days or weeks, then it’s probably not a Symmetrical Triangle and possible another Trend Continuation pattern (like Flag, Pennant, etc.). Don’t make this BIG mistake when trading the Symmetrical Triangle, here’s why… Now…

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