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Article: Refining Elliott wave triangle patterns. (Trading Techniques).(Column)
- Article from:
- Futures (Cedar Falls, IA)
- Article date:
- February 1, 2003
- Author:
CopyrightCOPYRIGHT 2003 Summit Business Media. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Completing the discussion of common Elliott wave patterns, here is the first report on the most common shapes of triangle patterns. Recognizing these patterns makes it easier to forecast market action more accurately.
In the 60 years or so since Ralph Nelson Elliott discovered patterns within price charts of liquid markets, even the Elliott experts have disagreed about the shape of these patterns, which reflect mass human emotion as it flows from hope to fear and back again.
If you know the most common shapes of Elliott wave patterns and can identify the beginning of a pattern, you can calculate where and when it is most likely to complete. After ...