As of 08/12/2022
Indus: 33,761 +424.38 +1.3%
Trans: 15,147 +74.16 +0.5%
Utils: 1,042 +15.91 +1.6%
Nasdaq: 13,047 +267.38 +2.1%
S&P 500: 4,280 +72.88 +1.7%
|
YTD
-7.1%
-8.1%
+6.2%
-16.6%
-10.2%
|
|
As of 08/12/2022
Indus: 33,761 +424.38 +1.3%
Trans: 15,147 +74.16 +0.5%
Utils: 1,042 +15.91 +1.6%
Nasdaq: 13,047 +267.38 +2.1%
S&P 500: 4,280 +72.88 +1.7%
|
YTD
-7.1%
-8.1%
+6.2%
-16.6%
-10.2%
| |
| ||
This page describes the reverse symmetrical triangle pattern of the Elliott wave principle, how price moves not in a straight line but in a series of rises and retracements.
The figure to the right shows what a reverse symmetrical triangle looks like in a bull market. The reverse symmetrical triangle is a region of horizontal
price movement, a consolidation of a prior move, and it is composed of "threes." That means each of the A-B-C-D-E waves have three subwaves.
I labeled the B subwaves with red numbers, 1, 2, and
3, as an example.
In a reverse symmetrical triangle, the shape of the pattern follows two diverging trendlines, shown here as red lines. A reverse symmetrical triangle is more commonly known as a broadening top or broadening bottom. According to Frost and Prechter, "There are no variations on the rarer expanding triangle," which is another name for the reverse symmetrical triangle. I have not looked for the 3-3-3-3-3 combination, but I do know that other broadening patterns exist. Check out: right-angled broadening top, ascending, right-angled broadening top, descending, broadening wedge, ascending, and broadening wedge, descending.
A reverse symmetrical triangle in a bear market is an inverted picture of a bull market triangle. The price action swings from trendline to trendline,
and diverges. The A-B-C-D-E waves subdivide into threes, forming a 3-3-3-3-3 configuration.
The reverse symmetrical triangle has rules that govern its shape. They are listed here.
-- Thomas Bulkowski
Support this site! Clicking any of the books (below) takes you to
Amazon.com If you buy ANYTHING while there, they pay for the referral.
Legal notices: "As an Amazon Associate I earn from qualifying purchases." Paid links).
Sure you can trust the government. Just ask a native American!