The Symmetrical triangle pattern is generally categorized as a “continuation pattern”, meaning that after the pattern completes, it’s assumed that price will continue in the trend direction it was moving before the pattern appeared.

A triangle pattern is generally considered to be forming when it includes at least five touches of support and resistance.

A symmetrical triangle is a chart formation where the slope of the price’s highs and the slope of the price’s lows converge together to a point where it looks like a triangle.

What’s happening during this formation is that the market is making lower highs and higher lows.
This means that neither the buyers nor the sellers are pushing the price far enough to make a clear trend. This is also a type of consolidation.

As these two slopes get closer to each other, it means that a breakout is getting near.

Good Morning Fellow Traders Everyone 😉

Do you know who is a trader's main enemy?

📜 A trader's main enemy is themselves, all decisions may be divided and reckless if there is no self control.

📜 So this is what always makes a person lose and is never consistent in making profit.

"Control Emotions"