Symmetrical Triangle - Definition

Technical Analysis pattern that consists of two lower highs and two higher lows. By extending lines through these points, a symmetrical triangle is formed. It is commonly associated with directionless markets as the contraction of the market Range indicates that neither the bulls nor the bears are in control. If this pattern forms in an uptrend then it is considered a continuation pattern if the market breaks out to the upside and a Reversal pattern if the market breaks to the downside. Similarly if the pattern forms in a downtrend it is considered a continuation pattern if the market breaks out to the downside and a reversal pattern if the market breaks to the upside.



Terms near "Symmetrical Triangle"

SYP
Systematic Risk
SZL
T+
Take Profits
Take the Offer
Take-Profit Order (T/P)
Technical Analysis
Technical Correction
Technical Indicators
Ready to Trade!
First you'll need an online broker. See how much you can save by visiting Forexbite Broker Center.
Advertisement

Symmetrical Triangle - Related articles & news

Featured
Top 5 factors that affect exchange rates ...

There are many factors that affect exchange rates of currencies. However some are more important in currency trading than others. These are; Interest and Inflation rates, Trade balance, Currency market speculation, Foreign investment and Central bank market intervention. Learn how to use these factors in your forex tra ...

Forex Navigation