Scribd
Upload
298 views6 pages

Symmetrical Triangle

The symmetrical triangle pattern forms with converging trendlines where the slope down resistance line meets the slope up support line. It is an uncertain pattern as the asset can break out or breakdown in either direction. Traders should wait for a confirmed breakout or breakdown above or below the trendlines accompanied by an increase in trading volume to generate buy or sell signals. Targets are calculated from the C point, where the pattern begins, and position size should have a 1:1 risk to reward ratio.

Uploaded by

karthick sudharsan
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
298 views6 pages

Symmetrical Triangle

The symmetrical triangle pattern forms with converging trendlines where the slope down resistance line meets the slope up support line. It is an uncertain pattern as the asset can break out or breakdown in either direction. Traders should wait for a confirmed breakout or breakdown above or below the trendlines accompanied by an increase in trading volume to generate buy or sell signals. Targets are calculated from the C point, where the pattern begins, and position size should have a 1:1 risk to reward ratio.

Uploaded by

karthick sudharsan
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
You are on page 1/ 6

SYMMETRICAL TRIANGLE

Uncertain Pattern (Anywhere it can go)

Formation :
1. Slope Down Resistance line.
2. Slope Up Support line.
3. You can use this pattern at any time frame.
4. It's a very uncertain pattern, as it can go anywhere, so basically here
we have to focus on proper Breakout and Proper Volume
confirmation.
5. Trading Range will get narrow as we move towards the end of the
pattern and Trading Volume also Keep going down & t will explode
either side as per the Breakout/Breakdown Candle.

Confirmations :
1. Minimum 2 points of Support and 2 points of Resistance. You can get
many more points but 2 is the minimum requirement.
2. Volume will dry up as we reach towards the end of pattern that
means Dropping of Volume, this is good confirmation of the
Symmetrical Triangle.

Conditions :
1. Target Calculation always from “C” point (In all kinds of triangles).
2. Wait for Breakdown from Slope up Support line, OR Wait for
Breakout from Slope down Resistance line. (All depends on
Candlestick color and Volume confirmation).
Information By: CityInvest Divish S.
Website : ​https://www.cityinvestwisely.com
Facebook : ​www.facebook.com/cityinvestmentservices
Telegram Stocks: ​https://t.me/cityinvest
Telegram FNO: ​https://t.me/cityfno
Telegram Crypto : ​https://t.me/citycryptocurrency
Telegram Global Stocks : ​https://t.me/cityglobalstocks
Condition for Breakdown ( Red color body only)
1. Opening & closing of Healthy Red Candle Below Support Line.
2. Volume confirmation should be there always in all the case of
Breakdown. Check Volume above 20MA line.

Condition for Breakout ( Green color body only)


1. Opening & closing of Healthy Green Candle Below Support Line.
2. Volume confirmation should be there always in all the case of
Breakdown. Check Volume above 20MA line.

How to take trades : (Buy Trades)


Target calculation from “C” point only and “C” point can be there on
resistance or support line, everything depends on the starting point of
Pattern, Here starting point is “A” which is on the Resistance line so “C”
point you will get on Resistance line only, If the starting point is on support
then C would be on support only.
How to take trades: (Sell Trade)

Information By: CityInvest Divish S.


Website : ​https://www.cityinvestwisely.com
Facebook : ​www.facebook.com/cityinvestmentservices
Telegram Stocks: ​https://t.me/cityinvest
Telegram FNO: ​https://t.me/cityfno
Telegram Crypto : ​https://t.me/citycryptocurrency
Telegram Global Stocks : ​https://t.me/cityglobalstocks
Target calculation from “C” point only and “C” point can be there on
resistance or support line, everything depends on the starting point of
Pattern, Here starting point is “A” which is on the Resistance line so “C”
point you will get on Resistance line only, If the starting point is on support
then C would be on support only.

Points to Remember :
1. Try to find the starting point of the Support & Resistance line from
nearby range. Don’t try to mark too far away support or Resistance
Lines.
2. This kind of pattern can also form in short term time also & there is no
need to check previous Trend.
3. Stop loss 1:1 Risk/Reward or you can take stop loss of either side of
the trendline of trend Breakout or Breakdown.
Thumb rule time frame for Target :​ Half of the time frame of formation.
Like : If a pattern took 2 Months to form, then it will achieve tgt in the next
30-35 days that’s the minimum time frame for holding period.

Try to focus on 1 Day chart for the medium term and 1 hour or 30
minutes for Short term trades.

Information By: CityInvest Divish S.


Website : ​https://www.cityinvestwisely.com
Facebook : ​www.facebook.com/cityinvestmentservices
Telegram Stocks: ​https://t.me/cityinvest
Telegram FNO: ​https://t.me/cityfno
Telegram Crypto : ​https://t.me/citycryptocurrency
Telegram Global Stocks : ​https://t.me/cityglobalstocks

You might also like

pFad - Phonifier reborn

Pfad - The Proxy pFad of © 2024 Garber Painting. All rights reserved.

Note: This service is not intended for secure transactions such as banking, social media, email, or purchasing. Use at your own risk. We assume no liability whatsoever for broken pages.


Alternative Proxies:

Alternative Proxy

pFad Proxy

pFad v3 Proxy

pFad v4 Proxy