Symmetrical Triangle is longer than three months
1. "Usually, it takes longer than a month to form a triangle. Seldom will a triangle last longer than three months. If a does take longer than three months to complete, Murphy advises that the formation will take on major trend significance"
2. Break up is too near consolidation of Apex ie usdjpy is weak
3. Break up does not have
4. Symmetrical Triangles normally have a false break out.
Occurrence of a Breakout - Technical analysts pay close attention to how long the triangle takes to develop to its apex. The general rule, as explained by Murphy, is that prices should break out - clearly penetrate one of the - somewhere between three-quarters and two-thirds of the horizontal width of the formation.6 The break out, in other words, should occur well before the pattern reaches the apex of the triangle. . Adherence to this rule is strongly advised by Yager, She adds that the closer the breakout occurs to the apex the higher the risk of a false breakout
If prices remain within the beyond the three-quarters point of the triangle, technical analysts will approach the triangle with caution. In much the same manner as Yager, Murphy warns that if prices don't breakout of the before that point, the triangle "begins to lose its potency and prices will simply drift out beyond the apex with no surge in either direction.