As of 03/28/2024
  Indus: 39,807 +47.29 +0.1%  
  Trans: 16,212 +183.07 +1.1%  
  Utils: 882 +7.51 +0.9%  
  Nasdaq: 16,379 -20.06 -0.1%  
  S&P 500: 5,254 +5.86 +0.1%  
YTD
 +5.6%  
 +2.0%  
 +0.1%  
 +9.1%  
 +10.2%  
  Targets    Overview: 03/13/2024  
  Up arrow40,000 or 38,500 by 04/01/2024
  Up arrow16,300 or 15,350 by 04/01/2024
  Up arrow885 or 830 by 04/01/2024
  Up arrow16,600 or 15,200 by 04/01/2024
  Up arrow5,350 or 5,100 by 04/01/2024
As of 03/28/2024
  Indus: 39,807 +47.29 +0.1%  
  Trans: 16,212 +183.07 +1.1%  
  Utils: 882 +7.51 +0.9%  
  Nasdaq: 16,379 -20.06 -0.1%  
  S&P 500: 5,254 +5.86 +0.1%  
YTD
 +5.6%  
 +2.0%  
 +0.1%  
 +9.1%  
 +10.2%  
  Targets    Overview: 03/13/2024  
  Up arrow40,000 or 38,500 by 04/01/2024
  Up arrow16,300 or 15,350 by 04/01/2024
  Up arrow885 or 830 by 04/01/2024
  Up arrow16,600 or 15,200 by 04/01/2024
  Up arrow5,350 or 5,100 by 04/01/2024

Bulkowski on Running Triangle Elliott Wave Pattern

This page describes the running triangle pattern of the Elliott wave principle, how price moves not in a straight line but in a series of rises and retracements.

The running triangle in a bull market. The figure to the right shows what a running triangle looks like in a bull market. The running 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. Expect volume and volatility to recede as the pattern moves toward the breakout, but this is not a requirement.

In a running triangle, the shape of the pattern follows two converging trendlines, shown here as red lines. Thus, it is a symmetrical triangle with one important difference. The start of the pattern shows the start of wave A falling short of the trendline. In other words, wave B runs well beyond the start of wave A, hence the name running triangle.

The running triangle in a bear market. A running triangle in a bear market is an inverted picture of a bull market triangle. The price action swings from trendline to trendline, and converges. The A-B-C-D-E waves subdivide into threes, forming a 3-3-3-3-3 configuration. Again, wave B runs well beyond the start of wave A.

Frost and Prechter say that when price reaches the apex of the triangle, expect the market to turn.

 

Running Triangle Rules

The running triangle has rules that govern its shape. They are listed here.

-- Thomas Bulkowski

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See Also

 

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