Bullish Reversal Symmetrical Triangle Chart Pattern Explained

In this article, we will discuss about the bullish reversal symmetrical triangle pattern.

If you don't know how to trade the bullish reversal symmetrical triangle pattern, Then this article will help you lot.

You can increase your knowledge about the technical analysis by reading this article.

BULLISH REVERSAL SYMMETRICAL TRIANGLE

The symmetrical triangle pattern is a bullish and bearish trend continuation chart pattern.

It depends on the previous trend of the market and on which side the breakout occurs.

• There are four types of Symmetrical Triangle patterns :

[A] Bullish Continuation Symmetrical Triangle

[B] Bearish Continuation Symmetrical Triangle

[C] Bullish Reversal Symmetrical Triangle

[D] Bearish Reversal Symmetrical Triangle

In this article, we will discuss about the bullish reversal symmetrical triangle pattern.

• How is the bullish reversal symmetrical triangle pattern formed?

Suppose, a Symmetrical Triangle pattern forms and the previous trend of the market is down.

For some time, the price is consolidated within the pattern (indecision between the buyers and sellers), then the price breaks the pattern to the upside.

The previous trend of the market was down, and after a pattern breakout the trend is reversed to the up side.

The falling trendline (downside slope) and the rising trendline (upside slope) have the same slope.

This pattern is more reliable if the price touches the upper (falling) trendline more than three times.

The breakout of a pattern is confirmed when the price breaks the pattern with volume.

• How to trade the bullish reversal chart pattern?

Entry :

Stop Loss :

SL should be placed below either the previous swing or below the breakout candle.

Target :

Target should be equal to the distance between the first swing low and the first swing high of this pattern.

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Bullish Reversal Symmetrical Triangle Pattern