The Symmetrical Triangle pattern is identified by drawing two trendlines that connect a series of sequentially lower peaks and a series of sequentially higher troughs. Both trendlines act as barriers that prevent the price from heading higher or lower, but once the price breaches one of these levels, a sharp movement often follows. This is why we want to wait for the price of the stock to break out over the upper line before we buy it.
To gain access to the PDF download and video, sign up for
an Equity Oracle Subscription!
