Forex Chart Formation Patterns_9. Learn Forex Symmetrical Triangle Pattern

Lesson 9: Learn Forex Symmetrical Triangle Pattern When there is a neutral chart formation, it is a symmetrical triangle. It forms when the resistance line is sloping downwards and the support line is sloping upwards. As they converge, a breakout is inevitable Looking at the charts, you can see the price is making higher lows and lower highs as it consolidates. Usually, when the price finally breaks out, the following move is very explosive and fast-moving. As this is a neutral pattern, the break-out can happen on either side. Therefore, it’s best to enter the market only when the price has broken the previous highs for the upside break or previous lows for the downside break. The price target for this formation is the height of the triangle measured in the direction of the breakout from the breakout point.