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6.1 Lecture 30 PDF

A symmetrical triangle pattern forms during a period of consolidation between converging support and resistance lines. It features at least two higher lows and two lower highs forming a contracting range over time. Volume typically decreases during the consolidation. A breakout in either direction generally follows the pre-existing trend, with the price target being equal to the width of the original triangle pattern.

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Ayesha Mariya
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54 views

6.1 Lecture 30 PDF

A symmetrical triangle pattern forms during a period of consolidation between converging support and resistance lines. It features at least two higher lows and two lower highs forming a contracting range over time. Volume typically decreases during the consolidation. A breakout in either direction generally follows the pre-existing trend, with the price target being equal to the width of the original triangle pattern.

Uploaded by

Ayesha Mariya
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Symmetrical

Triangle
Lecture 30
Symmetrical Triangle
• The pattern contains at least two lower highs and two
higher lows.
• When these points are connected, the lines converge as
they are extended and the symmetrical triangle takes
shape.
• You could also think of it as a contracting wedge, wide at
the beginning and narrowing over time.
Symmetrical Triangle (Continuation Pattern)

Price range is
Current Trend is
squeeze in support
consolidation
& resistance line

During Break Out is either


consolidation side (Generally
volume are in Follow the long
decreasing trend term trend)

Price break Price target is equal


Consolidation with to the open Phase
high volume of Triangle

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