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Question Of The Week - Library Of Past Questions |
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| 12/13/2006 |
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| Question: |
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How do you differentiate between the end of a Contracting Triangle and an ongoing Diametric or Symmetrical?
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| Answer:
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This question is the composite of several questions I have received the last few months. The time and price consumption of the waves during the contraction is the key. If wave-c is more than 61.8% of wave-a and wave-e is more than 61.8% of wave-c, that is a big clue. If the time and complexity of all the waves is more similar than different, a Triangle is very unlikely. Also, following the e-wave of a Triangle, the market should start moving as fast (if not faster) than the violent move during wave-a. If the market proceeds in a fashion similar to that seen during the other waves, then a Diametric or Symmetrical is a certainty.
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