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What is a Symmetrical Triangle

A symmetrical triangle is a chart pattern characterized by two converging trend lines connecting a series of sequential peaks and troughs. These trend lines should be converging at a roughly equal slope. Trend lines that are converging at unequal slopes are referred to as a rising wedge, falling wedge, ascending triangle, or descending triangle.
KEY TAKEAWAYS

• Symmetrical triangles occur when a security's price is consolidating in a way that generates two converging trend lines with similar slopes.
• The breakout or breakdown targets for a symmetrical triangle is equal to the distance between the initial high and low applied to the breakout or breakdown point.
• Many traders use symmetrical triangles in conjunction with other forms of technical analysis that act as a confirmation.