Symmetrical Triangle (Sym Tri)

Symmetrical Triangles are one of the most easily recognisable chart patterns.

Usually made up of 5 touches within the triangle structure at the same time volume is trending down, they are considered a neutral pattern as the price is consolidating while in the triangle structure.  Therefore, to increase the probability of success when trading these patterns, the trend leading into the pattern should be considered.

A great bias to have when assessing Symmetrical Triangles is that if in a bull market, look for longs, and look for shorts if in a bear market as ultimately you are trading in line with market strength.

The Measured Move (MM) of Symmetrical Triangles is the width of the neckline of the structure and while many traders will take aggressive entries while still in the structure, to increase the probability of success, many traders wait for confirmation via a breakout of the structure and then trade the horizontal levels thereafter.