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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 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.

Can a symmetrical triangle mark a trend reversal?

A symmetrical triangle can mark a trend reversal but more often than not they mark a current trend continuation when stock trading. No matter what the pattern, reversal or continuation, the direction of the next major moves requires a valid breakout. There are other triangle patterns such as the ascending triangle and descending triangle patterns.

Is a symmetrical triangle pattern bullish or bearish?

This pattern could be either bullish or bearish depending on where price action goes outside of the apex point. What Are Symmetrical Triangle Patterns?

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