Symmetrical Triangle Pattern: What It Is & How to Use It for Crypto Trading

Triangles are one of the most popular chart patterns because they're easy to spot, have a high success rate and can be traded in different ways. Triangle patterns are formed by two converging trend lines that create three sides of a triangle. 

Three basic triangle patterns occur on a price chart: Ascending triangle (bullish), descending triangle (bearish) and symmetrical triangle (continuation or reversal). These represent a period of indecision by traders, and are used to identify a breakout that may lead to a pickup in momentum and a continuation of the preceding direction. 

The different types of triangles can be distinguished by their slope or angle (the upward or downward direction in which they move). Furthermore, a symmetrical triangle typically forms over a longer period (greater than three weeks) than the other triangles (up to three weeks).

In this article, we’ll discuss the symmetrical triangle pattern and compare it with the ascending and descending triangle patterns. Additionally, we’ll provide insights for successfully trading the symmetrical triangle pattern.

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