How To Trade The Symmetrical Triangle Pattern [Forex Chart Patterns]

A symmetrical triangle is one of the most famous classical chart patterns that appears during an ongoing trend and indicates that the prices are consolidating before moving in the previous trend’s direction.
It has quite a similar formation as the ascending and descending triangle patterns; however, the symmetrical triangle does not have a horizontal lower or upper trend line. Instead, it has an upper descending trend line and a lower ascending trend line.
In this video, we’ll teach you everything you need to know about the symmetrical triangle pattern. Here’s a quick overview of what you’ll learn:

In the first section, you’ll learn what the symmetrical triangle pattern looks like and in what market scenario it usually appears. Then, we’ll also look at how to identify the pattern and draw two trend lines during the consolidation mode.

In the next chapter, we will show a live trading example of the symmetrical triangle pattern. First, our analysts show you how to spot a consolidation phase and draw two trend lines before entering a trade. Then, after locating the symmetrical triangle pattern, you’ll learn how to apply the breakout trading strategy using this pattern. In short, after watching this chapter, you’ll know exactly how to identify and trade the symmetrical triangle pattern.

At last, we mention the pros and cons of the symmetrical triangle pattern and the key takeaways to keep in mind to identify and trade the pattern.

Let’s get started!

Chapters:

0:00 - Intro
1:03 - How to Identify the Symmetrical Triangle Pattern
2:22 - How to Trade the Symmetrical Triangle Pattern
3:47 - Pros and Cons
4:30 - Key Takeaways

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