A symmetrical triangle is a chart pattern created with converging trendlines connecting multiple peaks and troughs along the path occurring when the price is consolidated along a path.
Identification: A symmetrical triangle chart pattern occurs along a period of consolidation before the price is forced to breakout or breakdown.
Occurrence: This triangle occurs during a consolidation period.
Study: A breakdown from the lower trendline marks the start of a new bearish trend, while a breakout from the upper trendline indicates the start of a new bullish trend.