Analysis: Symmetric Triangle | EUR\JPY

A Symmetric Triangle Chart Pattern at the Euro-Yen currency pair, about 85 pips in size. A very precise variation of the pattern, easy to identify. Note that price had passed two-thirds of the pattern, which indicates that triangle is invalid and even less reliable. Price should break Triangles before two-thirds of their size.

Trading rules are clear: The Symmetric Triangle should not be traded, neither in breakout nor pullback - this is an unreliable chart pattern that rarely reaches target. Do not confuse it with the Asymmetric Triangle pattern which is a strong pattern with high-quality signals.

Full tutorial about trading the Triangle Chart Pattern is available here.
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