Also referred to as a coil, usually forms during a trend as a continuation pattern. It contains at least two lower highs and two higher lows. At the time these points are conjoined, the lines converge as they are extended and the symmetrical triangle takes shape. One can also think of it as a contracting wedge, wide at the beginning and narrowing over time. [Back on Top

A sideways chart pattern between two converging trendlines in which the upper trendline is declining and the lower trendline is rising. The breakout through either trendline signals the direction of the price trend.