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.
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.
rmrao
⋅
Just trying to understand the timeframe over which to trace these patterns. Could you please clarify?
stockholder11
⋅
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.