What should traders look for to confirm the strength of a symmetrical triangle?

When assessing the strength of a symmetrical triangle formation, traders should particularly pay attention to multiple touches at the support and resistance lines of the triangle. The reason this is significant is that each touch at these trendlines indicates the presence of buyers and sellers actively participating in the market, thereby reinforcing the validity of the triangle pattern.

This repeated testing of the triangle's boundaries reflects the market's indecision, but it also signifies that the price is consolidating and preparing for a breakout. As the formation progresses and the price approaches the apex of the triangle, a well-defined structure with multiple touches suggests that there is underlying strength in the setup, and it increases the likelihood of a significant price movement upon breakout.

This contrasts with factors such as a sudden price increase or breakout without prior touches, which may indicate volatility rather than a well-formed triangle. A consistent increase in volume can also play a role in confirming breakouts, but the primary validation of the triangle pattern relies on those touches at support and resistance to establish the strength of the formation itself.