A symmetrical triangle is a Forex trading continuation pattern that occurs in the middle of an uptrend or a downtrend is already in progress. In this Forex trading tutorial we will teach you the steps needed to recognize symmetrical triangles :
· First, a symmetrical triangle starts with a change in the direction of currency price. If the currency followed an uptrend then the triangle will start to drop.
· Next, the currency rapidly changes direction, with steep rises and drops.
· What makes a symmetrical triangle is that the rises and drops become shorter and shorter, thus forming a sort of triangle. The currency price start with large rises and drops, and converges into a point, that is also the tip of the triangle.
· After the tip of the triangle is formed, the Forex trading trend that preceded the symmetrical triangle is continued. This is why it is called a Forex trading continuation pattern.
If you draw two lines on the edges of the rapid rises and drops, they will form a symmetrical triangle with the same sides, which is also names am Isosceles.
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