TATAPOWER Symmetrical Triangle Formation

• The Symmetrical Triangle Chart Pattern indicates an ongoing period of price consolidation before the prices breakout.
  A bullish symmetrical triangle is a bullish continuation chart pattern, the movement preceding the triangle’s formation must be bullish.
  On the other hand, A bearish symmetrical triangle is a bearish continuation chart pattern, the movement preceding the triangle’s formation must be bearish.
  The symmetrical triangle pattern is different from a descending or ascending triangle pattern as both triangles’ lower and upper trend lines slope towards the center point.
  A horizontal upper trendline is formed in ascending triangles that predict a higher breakout.
  With a descending triangle, a horizontal lower trendline is formed that predicts a lower breakout.
  

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