💥A symmetric triangle is a type of continuous pattern in technical analysis that occurs when the price of an asset moves within a converging range, forming two trend lines that meet at a point. This pattern indicates a period of consolidation in the market, where neither buyers nor sellers have enough momentum to push the price in a definitive direction. 💥Symmetric triangles are considered a continuation pattern, which means that they are likely to result in a continuation of the previous trend once the pattern is broken. If the trend was bullish, the price is likely to continue moving upwards after breaking out of the triangle. If the trend was bearish, the price is likely to continue moving downwards after breaking out of the triangle. 💥To identify a symmetric triangle pattern, traders look for two trend lines that connect at least two highs and two lows. The upper trend line connects the highs, while the lower trend line connects the lows. These lines should be roughly parallel to each other and converge towards a point. 💥Traders often look for a breakout above the upper trend line or below the lower trend line to confirm a continuation of the previous trend. They may also use other technical indicators and analysis to confirm the direction of the breakout and determine potential entry and exit points for trades. 24129539_1519700678079490_7569401475614978960_n.png 💥If you look at the image above, you can see that the original price trend was an uptrend. However, at point 1 (green line), the price dropped down to point 1 (red line), providing an opportunity for buyers to enter the market and causing the price to rebound back up to point 2 (green line). But selling pressure pushed it down again to point 2 (red line), forming a triangular pattern. It\u0027s called a symmetric triangle because the trend line passes through the apex point (green line) and the trend drawn through the bottom of the pattern (red line) forms equal angles with the plane. The point where the green and red lines meet is called the apex. When the price breaks through the triangle, the trend is likely to continue in an uptrend, and the break usually occurs two-thirds of the way from the apex to the base. However, if it breaks past that point, the probability of a break up or break down becomes equal, and it may cause a reversal. 💥After a break up, it can be analyzed that the price may continue to go up to a distance equal to the base of the triangle or from the apex point up to the same distance. Another popular method is to draw a line parallel to the red line from point 1 (green line), which can also be used as another target line. 💥Using the example of the chart image above, we can see a volume price movement that forms a symmetric triangle. Some parts of the price fall off the lower boundary of the triangle, but if we observe it carefully, we can see that the closing price can move back into the pattern, so we can still consider this as a symmetric triangle pattern.
💥Continuous patterns are chart patterns that indicate that the price of an asset is likely to continue moving in the same direction as the current trend. These patterns are characterized by a series of price movements that are similar in shape and direction to each other. 💥There are two main types of continuous patterns: the bullish and bearish patterns. Bullish patterns indicate that the price is likely to continue moving upwards, while bearish patterns suggest that the price is likely to continue moving downwards. 💥Some common examples of bullish continuous patterns include the ascending triangle, the bull flag, and the cup and handle pattern. Bearish continuous patterns include the descending triangle, the bear flag, and the head and shoulders pattern. 💥Traders often use these patterns to help them make decisions about when to enter or exit trades. It is important to note, however, that not all patterns will be successful and other indicators and analysis should also be used to confirm the trend before making a trade. continuation-patterns.jpg 💥Continuous patterns are very important in technical analysis as they provide valuable information about the trend of an asset. By identifying and analyzing these patterns, traders and investors can make informed decisions about when to buy or sell an asset. 💥For example, if an uptrend continuation pattern is identified, traders may consider buying the asset as it is likely to continue its upward trend. Conversely, if a downtrend continuation pattern is identified, traders may consider selling the asset or shorting it as it is likely to continue its downward trend. 💥It\u0027s worth noting that not all continuous patterns are reliable and some may result in false signals. Therefore, it\u0027s important to use other technical indicators and analysis to confirm the trend before making a trade based on a continuous pattern. triangle-patterns-forex-traders-should-know_body_3trianglepatterns.png.full.png 💥Continuous patterns can be considered as a break in the trend, where the price moves in a different direction before continuing in the same trend. This can be an opportunity to analyze the market sentiment and determine if the old trend will continue. There are various types of continuous patterns, including triangle patterns such as symmetry, ascending, and descending, as well as flags and pennants. 0*BqbsPhWXtuDnK4q8.png 💥Flags and pennants are named after their shapes, with flags resembling a square flag and pennants looking like a triangular flag. These patterns can indicate a pause in the market before the trend resumes, and traders often use them to identify potential buying or selling opportunities. Overall, continuous patterns are important in technical analysis as they can help traders anticipate price movements and make more informed trading decisions.