Symmetrical Triangle
A symmetrical triangle is a chart pattern used in technical analysis to predict future price movements in financial markets. It forms when the price of an asset makes a series of higher lows and lower highs, creating two converging trendlines. This pattern indicates a period of consolidation before a potential breakout in either direction.
Traders often look for a breakout above the upper trendline or below the lower trendline to signal a continuation or reversal of the current trend. The symmetrical triangle can be found in various markets, including stocks, commodities, and cryptocurrencies, making it a versatile tool for investors.