Glossary - ChicksX

Symmetrical Triangle is a chart pattern signaling potential price breakout, formed by converging trendlines in financial markets.

Symmetrical Triangle is a chart pattern in technical analysis. It appears when two trendlines converge, connecting a series of peaks and troughs. The pattern indicates market indecision, as neither buyers nor sellers dominate. Volume typically decreases as the pattern forms. Once price breaks through either trendline, a significant price movement often follows, signaling a potential trend. Traders use this pattern to anticipate breakouts and set entry or exit points. It's essential to confirm breakouts with other indicators to ensure reliable predictions in crypto/fiat exchanges.