Elliott wave pattern: Triangle
it is correction pattern
Seen in wave 4 , but can be seen in wave 2 also
Consist of five wave abcde
Types:
1. Contracting triangle:
Rules and guidelines
In which wave
Internal structure
it is correction pattern
Seen in wave 4 , but can be seen in wave 2 also
Consist of five wave abcde
Types:
- Contracting triangle
- Expanding triangle
1. Contracting triangle:
Description
A triangle is a corrective pattern, which can contract or expand. Furthermore it can ascend or descend. It is composed of five waves, each of them has a corrective nature.
o It is composed of 5 waves.
o Wave 4 and 1 do overlap.
o Wave 4 can’t go beyond the origin of wave 3.
o Wave 3 cannot be the shortest wave.
o Internally all waves of the diagonal have a corrective wave structure.
o In a contracting Triangle, wave 1 is the longest wave and wave 5 the shortest. In an expanding Triangle, wave 1 is the shortest and wave 5 the longest.
o Triangles normally have a wedged shape, which follows from the previous.
o As a guideline the internal wave structure should show alternation.
Triangles occur only in waves B, X and 4. Never in wave 2 or A.
It is composed of five waves, of which the internal structure is 3-3-3-3-3.
2, Expanding triangle:
for more visit
No comments:
Post a Comment