What is a Symmetrical Triangle?
Definition of Symmetrical Triangle: This is a well-known pattern where the costs from two different sloping lines converge on a single point. This model is regarded as a continuation model. It is generally seen in the sideways or flat markets where neither the purchasers nor the sellers attain the upper position. Highs attain the lower and lows attain the high position till a breakout takes place. Infrequently, this outline follows a downtrend or uptrend. If a escape follows the earlier trend, it is known as the continuation and if any other direction takes place, it is known as reversal. The Forex trader places entry orders on any side of converging lines and makes an attempt to hold the break when it shifts by canceling the contradictory order after the shift gets its confirmation.