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.