How to trade SYMMETRICAL TRIANGLE?
Trend: Bullish/Bearish
Type: Bilateral
Timeframe: From 1h
Entry point: After the price closes outside of the pattern
Shape: Looks like a symmetrical triangle
Trendlines: Two narrowing resistance and support lines forming a symmetrical triangle
Intersection: Candles completely fill the channel of the figure without empty space
Touches: The price touches the resistance and support lines, at least two times each
Volume: Increase of the volumes in the breakout zone
Confirmation: The pattern is confirmed when the price closes outside one of the trendlines
Support/Resistance: After the price closes outside of the pattern, the support or resistance line may become a mirror level
Breakout chance:
55% - Downward/45% - Upward