#Symmetrical Triangle pattern
Timeframe: 60Minute
This pattern simply indicate market indecision with a balance of buyers and sellers.
Price is forming both higher lows and lower highs, creating uncertainity about the market direction. As the range narrows, pressure will build up.
Breakout Confirmation: When the price breaks above or below the triangle, it signifies a resolution of indecision. The direction of the breakout indicates the likely continuation of the previous trend.
Entry: Let the market consolidate first, then we can take an entry at breakout
Exit point will be our lower range of consolidation where we can set our sl
Point to note:
1. Donot take random entry
3. If It directly opens gap up/gap down, above the range, then it is invalidated
4. downside trade will be of lower probablity, because the prevailing trend is UP
Risk management: Upside trade- Full QTY
Downside Trade- 1/4*Full QTY
