Lesson about symetric triangle

30 May 2019

Here is an example of a symetric triangle pattern played out on the 4hr XRP/USD chart. Im starting to see these triangle patterns more and more whether it be considered a pennant or whatever. The results are similar regardless of what you call it. Price gets squeezed towards the end of the formation and at a certain point it shoots up or down. The tricky part is predicting which way it will go. But with the triangle at least you could have predicted when the price action will occur. I am still learning a lot myself but I am trying to document my journey from scrub to master of the charts.