• Symmetrical triangles occur when a security' s price is consolidating in a way that generates two converging trend lines with similar slopes.
• The breakout or breakdown targets for a symmetrical triangle is equal to the distance between the initial high and low applied to the breakout or breakdown point.
• Many traders use symmetrical triangles in conjunction with other forms of technical analysis that act as a confirmation.

Above is a STI daily chart.

The objective if break on the upside will be the height of the green arrow which is about the 3230 levels.
Of course it can also breakdown but these are usually continuation pattern.

All the bre@st.

• Pennants are continuation patterns where a period of consolidation is followed by a breakout used in technical analysis.
• It' s important to look at the volume in a pennant&mdash the period of consolidation should have lower volume and the breakouts should occur on higher volume.
• Most traders use pennants in conjunction with other forms of technical analysis that act as confirmation.

Understanding Pennants

Pennants, which are similar to  flags  in terms of structure, have converging trend lines during their consolidation period and last from one to three weeks. The  volume  at each period of the pennant is also important. The initial move must be met with large volume while the pennant should have weakening volume, followed by a large increase in volume during the  breakout.