The Symmetric Triangle pattern is one of the most important chart patterns in technical analysis. This chart patterns forms when the market is in an indecision mode where supply/demand is in a state of equilibrium. Even though it is hard to predict the direction of the price breakout from this consolidating pattern, it is generally considered to be a continuous pattern and breaks out in the established trend prior to the pattern formation. Once the price breaks out of the pattern, it usually results in a large move in the direction of the breakout. Symmetric triangles are also called "coils" or "contracting wedge" patterns.
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