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Strategies & Market Trends : Longer-Term Market Trends -- Ignore unavailable to you. Want to Upgrade?

To: Tom Buttram who wrote (423)5/9/2008 3:39:34 PM
From: Perspective  Read Replies (2) | Respond to of 3209
 
Triangles are ringing, corrective, *countertrend* structures that occur as interruptions within a trend. More often than not, they break the way of the trend that preceded them. Since COF is in a long-term downtrend interrupted by a triangle, the expectation would be for a resumption of the downtrend.

In Elliot terms, a triangle is composed of five alternating corrective waves a-b-c-d-e contained by lines defined by the termini of a-c and b-d.

`BC


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