A symmetrical triangle usually forms as a continuation pattern of the current trend. The direction is typically confirmed after a valid break out of the top of the triangle or a break down of the bottom of the triangle.
The pattern can be drawn once at least two lower highs and two higher lows are connected. The extended lines would then converge to form the symmetrical triangle shape.
It is important to use this pattern with other indicators (SQZMOM, RSI, Willy and Volume).