The Symmetrical Triangle is considered a neutral price pattern.
Usually a continuation pattern
Also called a "Coil"
Represents a period of price consolidation
Formed of 2 converging trendlines (ascending and descending)
Consists of 2 lower highs and 2 higher lows
Volume is lighter as the trading contracts
Don't anticipate the breakout side
Breakout occurs at the apex of the triangle and can be upward or downward
Volume expands with the breakout
Price target: the widest part of the triangle is projected at the apex
Usually a continuation pattern
Also called a "Coil"
Represents a period of price consolidation
Formed of 2 converging trendlines (ascending and descending)
Consists of 2 lower highs and 2 higher lows
Volume is lighter as the trading contracts
Don't anticipate the breakout side
Breakout occurs at the apex of the triangle and can be upward or downward
Volume expands with the breakout
Price target: the widest part of the triangle is projected at the apex
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