Kinnari_Prajapati

Elliott wave Principle : Triangles

Education
FX:GBPUSD   British Pound / U.S. Dollar
There are 3 Types of Triangle,
Triangle forms in Corrective waves,
Triangle occurs in wave 2, 4 & B,

1) Contracting Triangle
+ Always Subdivides Into Five waves
+ at least four waves among wave A, B, C, D, each subdivide
into a Zigzag or Zigzag Combination.
+wave C never moves Beyond the end of wave A, wave D never moves beyond the end of waves b and D converges with a line connecting the eds of waves A and C.
+A triangle never has more than one Complex sun wave, in which case it is always a zigzag combination or a triangle.

2) Expanding Triangle :
most Rules are same as for contracting triangle
differences is :
+ wave C, D and E each moves beyond the end of the preceding same- directional sub-wave.
+ sub-waves B, C and D each retrace the last 100%
but no more than 150 Percent of preceding sub-wave.

3) Barrier triangle :
+ a Barrier Triangle has the same characteristics as a contracting triangle expect that waves B and D end at essentially the same level.
We have yet to observe a 9-wave barrier triangle, implying that this form may not extend.
+ when wave 5 follows a triangle, it is typically either a brief, rapid movement or an exceptionally long extension.



Comments

Thanks Kinari, I am new and do not get all at once but I will work and try to get it all. how do you put it in a buying and selling perspective? please.
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Just trying to understand the timeframe over which to trace these patterns. Could you please clarify?
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Thanks Kinnari, very helpful. Could you help please and explain how to recognize if a pennant is bullish or if it is bearish? On the one hand if the pennant is following a decreasing on the other hand a surging price. Would be very helpful. Thanks.
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Thanks Honey
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Excellent write up .. Thanks
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I think it never occurs in isolation in wave 2
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