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Symmetrical Triangle

The Symmetrical Triangle is neither bullish nor bearish until the breakout is confirmed. It could breakout either way. What is certain is that as the stock continues to coil, the breakout is near. Once the stock does break out and give a sense of direction, the stock will tend to accelerate quite quickly. The nice part about these triangle patterns is that they give you time to get ready for the trade. These aren’t trades that slip up on you but rather send signals of a coming breakout.

Chart Example



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The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.