Technical Analysis - ​Chart Pattern - Symmetrical Triangle

Technical Analysis - ​Chart Pattern - Symmetrical Triangle 
A Symmetrical Triangle is a chart pattern creation where the slope of the price’s highs and the slope of the price’s lows converge together to a point where it looks like a triangle.
This means that neither the buyers nor the sellers could push the price far enough to make a distinct trend. If such type of pattern happens, we get lower highs and higher lows.
If this were a war between the buyers and sellers, then this would be a draw.

​Since we already know that the price is likely to break out, we can just grab a ride in whatever way the market moves. In the above situation, purchasers wins and the price break and advance in upward direction.
In this example, if we put an entry order above the slope of the lower highs at white top, we would’ve been carried along for a pleasant ride up.
If you had put another entry order below the slope of the higher lows, then you would cancel it as soon as the first order was hit. Also, the most important thing in trading is to must put stoploss in every transaction to avoid false breakout and significant loss.