Published By: Trading Ideas
The Symmetrical Triangle Bottom pattern forms when the price of a security fails to retest a high or a low and ultimately forms two narrowing trend lines . Points 1 5 form the triangle patterns. The price is expected to move up or down past the triangle depending on which line is broken first.
This pattern is commonly associated with directionless markets since the contraction (narrowing) of the market range signals that neither bulls nor bears are in control. However, there is a distinct possibility that market participants will either pour in or sell out, and the price can move up or down with big volumes (leading up to the breakout).
Target For long / 0.00000476
Target For Short / 0.00000305
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