XAUUSD be liable Contracting Triangle in Wave B
Rules:
In a Triangle, the waves always subdivide into 5 waves: A, B, C, D, & E.
Wave A never goes beyond the origin or point X.
Structure = 3-3-3-3-3
At least four of the five waves subdivide into a zigzag or a combination of zigzags.
Triangles do not have more than one complex subwave (only one Double or Triple).
One of the five waves can subdivide into an Impulse
In a Contracting Triangle, Wave C never goes beyond Wave A, Wave D never moves beyond Wave B & Wave E never moves beyond C.
In a Contracting Triangle, Wave E ends around Wave A-C Line, but typically undershoots or overshoots the line.
Guidelines:
Wave B may go beyond the start of Wave A; it is not common and it is called a Running Triangle.
A Wave 5 following a Triangle can either be sharp, short and brief; or turn into an Extended Wave 5.
Contracting Triangles are the most common type of a Triangle.
In a Triangle, the waves always subdivide into 5 waves: A, B, C, D, & E.
Wave A never goes beyond the origin or point X.
Structure = 3-3-3-3-3
At least four of the five waves subdivide into a zigzag or a combination of zigzags.
Triangles do not have more than one complex subwave (only one Double or Triple).
One of the five waves can subdivide into an Impulse
In a Contracting Triangle, Wave C never goes beyond Wave A, Wave D never moves beyond Wave B & Wave E never moves beyond C.
In a Contracting Triangle, Wave E ends around Wave A-C Line, but typically undershoots or overshoots the line.
Guidelines:
Wave B may go beyond the start of Wave A; it is not common and it is called a Running Triangle.
A Wave 5 following a Triangle can either be sharp, short and brief; or turn into an Extended Wave 5.
Contracting Triangles are the most common type of a Triangle.