The Triangle pattern is sometimes called the Symmetrical Triangle since it does not have a defined slope as do its ascending and descending types. With the only difference being the absence of a horizontal support/resistance line, its geometry is the same as in two other triangle patterns: the price is bounded between two converging lines. Each line needs to contain at least two peaks or bottoms.
The close resemblance between the Symmetrical and Ascending and Descending Triangles already implies that it has to share their properties. This is true: appearing in both uptrends and downtrends, it delivers breakouts of either direction, each trend/breakout combination being equally probable. Throughout the pattern formation, volume is most likely to fall, but, as in several other patterns, breakouts on heavy volume show better results.
For educational purposes only. Not a recommendation of a specific security or investment strategy.
Technical analysis is not recommended as a sole means of investment research.
Past performance of a security or strategy does not guarantee future results or success.