Symmetrical Triangle Bottom
The symmetrical triangle bottom is a bearish continuation pattern. The pattern is formed by two trend lines which are symmetrical to the horizontal and convergent. The first one is a bearish slant that will give support and the other is a bullish slant that will make resistance. To confirm a symmetrical triangle bottom, there must have oscillation between the two lines. Each line must be touched at least twice for validation.
To called a symmetrical triangle "bottom", it is necessary that the movement that preceded the formation of the triangle being bearish.
Here is a graphical representation of a symmetrical triangle bottom:
The target price of this pattern is determined by its height from the base of the triangle that we carry over the breakpoints Another technique is to draw a parallel line to the resistance of the symmetrical triangle from the first contact point with the support to obtain a bearish target price.
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