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What is symmetrical triangle pattern?

The symmetrical triangle pattern is a continuation chart pattern like Ascending and Descending Triangle patterns. This pattern is characterized by two converging trend lines that connect a series of troughs and peaks. The trend lines should be converging to make an equal slope.

What is the difference between a symmetrical triangle and a pennant?

A second difference between the symmetrical triangle and the pennant is their durations. The pennant is considered a short-term pattern that forms over a period of days or possibly weeks. Ideally, a pennant pattern lasts between one and four weeks. A triangle pattern can take much longer, sometimes forming over the course of months or years.

What is a symmetrical triangle price target?

The price target for a breakout or breakdown from a symmetrical triangle is equal to the distance from the high and low of the earliest part of the pattern applied to the breakout price point. For example, a symmetrical triangle pattern might start at a low of $10 and move up to $15 before the price range narrows over time.

How many points do you need to form a symmetrical triangle?

Trend: In order to qualify as a continuation pattern, an established trend (at least a few months old) should exist. The symmetrical triangle marks a consolidation period before continuing after the breakout. Four (4) Points: At least 2 points are required to form a trend line and 2 trend lines are required to form a symmetrical triangle.

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