EW proves that we will be seeing the breakout or breakdown with in few days.
Triangles A triangle is a sideways movement that is associated with decreasing volume and volatility. Triangles have 5 sides and each side is subdivided in 3 waves hence forming 3-3-3-3-3 structure. There are 4 types of triangles in Elliott Wave Theory: Ascending, descending, contracting, and expanding. They are illustrated in the graphic below
Guidelines
• Corrective structure labelled as ABCDE • Usually happens in wave B or wave 4 • Subdivided into three (3-3-3-3-3) • RSI also needs to support the triangle in every time frame • Subdivision of ABCDE can be either abc, wxy, or flat