Newest & Recent

Find the lastest update

Popular of the day

Most watched posts

Forex Glossary

A to Z Forex abbreviations

Daily Analysis

Industry Experts posts

Symmetrical Triangle

Symmetrical Triangle

A Symmetrical Triangle is a chart pattern that is formed by two converging trendlines that connect a series of lower highs and higher lows. This pattern is characterized by a series of price swings that are getting smaller and smaller, creating a triangle shape on the chart.
The symmetrical triangle pattern is considered a continuation pattern, which means that it indicates a period of indecision or consolidation in the market. Traders often watch for a breakout from the pattern, either to the upside or downside, as a signal to initiate a trade.
The direction of the breakout is not predictable and it's not always clear which way the price will move once it breaks out of the pattern. However, the strength of the breakout can be used as an indicator of the potential direction and strength of the future price movement.
Traders often look for other technical indicators such as volume or momentum indicators to confirm the breakout before taking a trade. The symmetrical triangle is considered a neutral pattern, which means that it can lead to a bullish or bearish move depending on the direction of the breakout.
It is important to note that the symmetrical triangle pattern is not always reliable and it should be used in conjunction with other technical and fundamental analysis to make a trading decision.
Daily Analysis
Silver Price Forecast: XAG/USD Spikes -20-07-2023

Silver Price Forecast: XAG/USD Spikes -2...

WTI Maintains Position: $75.40 and Beyond- 20-07-2023.

WTI Maintains Position: $75.40 and Beyon...

Gold Price Outlook: XAU/USD Gap Filling-  20-07-2023

Gold Price Outlook: XAU/USD Gap Filling-...

DXY Reverses: US Dollar Retreats to 102.50 - 20-07-2023

DXY Reverses: US Dollar Retreats to 102....

USD/CHF at Risk: New Multi-Year Low Expected- 20-07-2023.

USD/CHF at Risk: New Multi-Year Low Expe...

Geo Politics
BRICS' Reserve Currency: A Rival to the Dollar's Dominance?

BRICS' Reserve Currency: A Rival to the ...

Russia begins Mobilization of its reserve force, is it immediate threat to Ukraine?

Russia begins Mobilization of its reserv...

;