Question of the Week: 10/21/2009
Based on Mastering Elliott Wave, it is my understanding that only wave-E of a Triangle can be a Triangle itself. Your book was written 20 years ago, is that statement still true today?
Mastering Elliott Wave (MEW) was released in 1990, a few years before I witnessed my first Neutral Triangle. Neutral Triangles are a NEoWave discovery and are patterns in which wave-C is the longest in price (and usually time) of the three "trending" waves (i.e., waves-a, c or e) of the Triangle.
When new patterns emerge, new behavior follows. Before Neutral Triangles came on the scene, I only saw Triangles appear within larger Triangles in the e-wave position. Starting in the mid 90's, Neutral Triangles emerged, adding to my knowledge and understanding of wave theory. With these new patterns came new behavior. Contracting, Expanding and Neutral Triangles began to appear as wave-c of larger Neutral Triangles. As a result, I had to revise my thinking on Triangles.
The following information replaces that which is found in MEW. Generally speaking, in an expanding Triangle, wave-e can be a Neutral or Expanding Triangle. In a Contracting Triangle, wave-e can be a Contracting or Neutral Triangle. In a Neutral Triangle, wave-c or e can be a Contracting, Neutral or Expanding Triangle.
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