How to Trade Symmetrical Triangle Breakout Chart Patterns Forex Trading
How to Trade Symmetrical Triangle Breakout Chart Patterns Forex Trading
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Why are Symmetrical Triangles important?
A symmetrical triangle implies that the market cannot decide whether to break up or down. Once the triangle is broken by the price, there may be a substantial move in the direction of the break.
So how do I use them?
Symmetrical triangles can be used to interpret large breaks in price. If the price breaks through the triangle to the downside, there may be a large move down. Similarly, if the price breaks through the triangle to the upside, there may be a large move up. We may use these to help identify trend or to confirm a Gartley or butterfly pattern.
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