Contracting Triangle Chart Pattern

Contracting Triangle Pattern

Contracting Triangle Chart Pattern
Contracting Triangle Chart 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 origin of wave 3.
• Wave 3 cannot be the shortest wave.
• Internally all waves of the diagonal have a corrective wave structure.
• 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.
• Triangles normally have a wedged shape, which follows from the previous.
• As a guideline the internal wave structure should show alternation.

In which wave

Triangles occur only in waves B, X and 4. Never in wave 2 or A.

Internal structure

It is composed of five waves, of which the internal structure is 3-3-3-3-3.

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