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A symmetrical triangle pattern is formed by two converging trendlines,
one connecting lower highs and the other connecting higher lows, that create a triangle shape, which is indicating a period of market consolidation or a potential breakout or breakdown. This pattern is often seen as a continuation pattern, Traders use this pattern to identify potential entry and exit points, looking for increased volume and a confirmed close beyond the trendline to validate a breakout.
Trade Set Up -
1.Wait for a Breakout and Confirmation:
Do not make any trading decisions until the price closes decisively outside of the triangle.
2.Increased Volume:
A valid breakout or breakdown is usually accompanied by an increase in trading volume, confirming the price movement.
3.Price Target:
The potential price target for the move can be estimated by measuring the height of the triangle.
4.Stop-Loss:
Put a stop-loss Long- Belove the line (support) or Short-Above the line (Resistance) depend on break out .
Do Your Own Reassert before taking any action.
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