Case Studies:
The best way to understand how this pattern works is to study collection of charts with real life examples.
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Corrective Structures. TRIANGLE
Triangle is a flat consolidation that typically happens after a strong rally or decline in wave 3 up or 3 down. Price keeps bouncing between two converging trendlines. Traders and investors get bored and annoyed by price progression because every successive wave is shorter than the preceding one. The ultimate goal of a correction shaped as the triangle is to cool down sentiment of the market after a preceding strong move. By the time it gets completed only a few bulls still keep watching it.
MAIN FEATURES
- A triangle is subdivided into five subwaves
- subwaves of a triangle are labelled as a, b, c, d and e
- subwaves of a triangle are labelled as a, b, c, d and e
- Wave b up is subdivided into three subwaves
- Introduction to Section 6 “Corrective Waves”.
- Simple Zig-Zag.
- Correction shaped as a Simple Zig-Zag.
- Regular Flat.
- Bonus: Trading corrective waves shaped as a Regular Flat.
- Running Flat.
- Expanded Flat.
- Correction Shaped as a Triangle.
- Bonus: Triangle can play dirty tricky games.
- Triangle: Key Takeaways.
- Wave B is the least predictable beast.
- Bonus.Wave B explained.
- Two types of corrective structures: “through time” vs “throw price”.
- Complex Corrective Pattern: Double Three.
- Guidance on Alternation Between Corrective Waves