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Elliott Wave Theory Archives - Page 2 of 2 - Forex Trading

## Expanding Triangle Pattern

Ascending Triangle: This is a triangle, which slopes upwards. This pattern has been implemented in the Modern Rules. Descending Triangle: This is a triangle, which slopes downwards. This pattern has been implemented in the Modern Rules. Running Triangle: This is a triangle where the B wave exceeds the origin of wave A.

## Contracting Triangle Pattern

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. Rules and guidelines • It is composed of 5 waves. • Wave 4 and 1 do overlap. • Wave 4 can’t go beyond the…

## Expanded Flat or Irregular Flat Pattern

Description This is a common special type of Flat. Here the B wave is extended and goes beyond the (orthodox) end of the previous impulsive wave. The strength of the B wave shows that the market wants to go in the direction of B. Often a strong acceleration will take place, which starts a third…

## Flat Pattern

Description Flats are very common forms of corrective patterns, which generally show a sideways direction. Waves A and B of the Flat are both corrective patterns. Wave C on the contrary is an impulsive pattern. Normally wave C will not go beyond the end of wave A.   Rules and guidelines • It is composed…

## Extension Pattern

Description By definition an extension occurs in an impulsive wave, where waves 1, 3 or 5 can be extended, being much longer than the other waves. It is quite common that one of these waves will extend, which is normally the third wave. The two other waves then tend to equal each other.In our pattern…

## Impulse Patterns

Description Impulses are always composed of five waves, labeled 1,2,3,4,5. Waves 1, 3, and 5 are themselves each impulsive pattern and are approximately equal in length. Waves 2 and 4 on the contrary are always corrective patterns. Rules and guidelines The most important rules and guidelines are: • Wave 2 cannot be longer in price…

## Patterns For Elliott Wave Theory

Studying the patterns is very important in order to apply the Elliott Wave Principle correctly. The pattern of the market action, if correctly determined, not only tells you to what price levels the market will rise or decline but also in which way (or pattern) this will happen. When you are able to recognize the…