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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 a symmetrical triangle breakout?

Although the symmetrical triangle is a neutral pattern, the likelihood of a breakout is stronger towards the direction of the overall trend, meaning that if the symmetrical triangle has been formed after an uptrend, the probability of a break is higher compared to a breakdown .

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.

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