As of 12/04/2020
  Indus: 30,218 +248.74 +0.8%  
  Trans: 12,742 +155.26 +1.2%  
  Utils: 856 -10.76 -1.2%  
  Nasdaq: 12,464 +87.05 +0.7%  
  S&P 500: 3,699 +32.40 +0.9%  
YTD
 +5.9%  
 +16.9%  
-2.6%  
 +38.9%  
 +14.5%  
  Targets    Overview: 11/30/2020  
  Up arrow30,700 or 28,250 by 12/15/2020
  Up arrow13,500 or 11,700 by 12/15/2020
  Down arrow830 or 925 by 12/15/2020
  Up arrow12,500 or 11,400 by 12/15/2020
  Up arrow3,750 or 3,400 by 12/15/2020
CPI (updated daily): Arrows on 11/2/20
As of 12/04/2020
  Indus: 30,218 +248.74 +0.8%  
  Trans: 12,742 +155.26 +1.2%  
  Utils: 856 -10.76 -1.2%  
  Nasdaq: 12,464 +87.05 +0.7%  
  S&P 500: 3,699 +32.40 +0.9%  
YTD
 +5.9%  
 +16.9%  
-2.6%  
 +38.9%  
 +14.5%  
  Targets    Overview: 11/30/2020  
  Up arrow30,700 or 28,250 by 12/15/2020
  Up arrow13,500 or 11,700 by 12/15/2020
  Down arrow830 or 925 by 12/15/2020
  Up arrow12,500 or 11,400 by 12/15/2020
  Up arrow3,750 or 3,400 by 12/15/2020
CPI (updated daily): Arrows on 11/2/20

Bulkowski on Running Triangle Elliott Wave Pattern

 

This page describes the running triangle pattern of the Elliott wave principle, how price moves not in a straight line but in a series of rises and retracements.

The running triangle in a bull market. The figure to the right shows what a running triangle looks like in a bull market. The running triangle is a region of horizontal price movement, a consolidation of a prior move, and it is composed of "threes." That means each of the A-B-C-D-E waves have three subwaves. I labeled the B subwaves with red numbers, 1, 2, and 3, as an example. Expect volume and volatility to recede as the pattern moves toward the breakout, but this is not a requirement.

In a running triangle, the shape of the pattern follows two converging trendlines, shown here as red lines. Thus, it is a symmetrical triangle with one important difference. The start of the pattern shows the start of wave A falling short of the trendline. In other words, wave B runs well beyond the start of wave A, hence the name running triangle.

 

 

The running triangle in a bear market. A running triangle in a bear market is an inverted picture of a bull market triangle. The price action swings from trendline to trendline, and converges. The A-B-C-D-E waves subdivide into threes, forming a 3-3-3-3-3 configuration. Again, wave B runs well beyond the start of wave A.

Frost and Prechter say that when price reaches the apex of the triangle, expect the market to turn.

 

Running Triangle Rules

The running triangle has rules that govern its shape. They are listed here.

-- Thomas Bulkowski

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See Also

 

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My novels:  Bumper's Story Head's Law

Chart Patterns: After the Buy Getting Started in Chart Patterns, Second Edition Trading Basics Fundamental Analysis and Position Trading Swing and Day Trading Visual Guide to Chart Patterns Encyclopedia of Candlestick Charts Encyclopedia of Chart Patterns 2nd Edition Trading Classic Chart Patterns

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