Triangle is an Elliott wave pattern seen during sideways market consolidations, it is composed of 5 corrective sequences. Triangle presents a balance of forces between buyers and sellers, causing a sideways movement that is usually associated with decreasing volume and volatility.
- Elliot Wave Triangles are the easiest corrective pattern and often one of the most reliable patterns to trade.
- Triangles are consist of five waves labeled as a-b-c-d-e.
- There are different kinds of Triangles viz. Horizontal, Barrier, Expanding, Running, and Skewed
- Triangles always precede the final reactionary wave in the direction of the main trend.
- Triangles are commonly formed in Wave 4 or Wave B.
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