As of 05/13/2022
  Indus: 32,197 +466.36 +1.5%  
  Trans: 14,456 +136.14 +1.0%  
  Utils: 993 +9.90 +1.0%  
  Nasdaq: 11,805 +434.04 +3.8%  
  S&P 500: 4,024 +93.81 +2.4%  
YTD
-11.4%  
-12.3%  
 +1.2%  
-24.5%  
-15.6%  
  Targets    Overview: 04/26/2022  
  Up arrow33,500 or 30,500 by 06/01/2022
  Up arrow16,300 or 13,900 by 05/15/2022
  Down arrow950 or 1,100 by 05/15/2022
  Up arrow12,800 or 11,000 by 06/01/2022
  Up arrow4,250 or 3,850 by 06/01/2022
CPI (updated daily): Arrows on 5/13/22
As of 05/13/2022
  Indus: 32,197 +466.36 +1.5%  
  Trans: 14,456 +136.14 +1.0%  
  Utils: 993 +9.90 +1.0%  
  Nasdaq: 11,805 +434.04 +3.8%  
  S&P 500: 4,024 +93.81 +2.4%  
YTD
-11.4%  
-12.3%  
 +1.2%  
-24.5%  
-15.6%  
  Targets    Overview: 04/26/2022  
  Up arrow33,500 or 30,500 by 06/01/2022
  Up arrow16,300 or 13,900 by 05/15/2022
  Down arrow950 or 1,100 by 05/15/2022
  Up arrow12,800 or 11,000 by 06/01/2022
  Up arrow4,250 or 3,850 by 06/01/2022
CPI (updated daily): Arrows on 5/13/22

Bulkowski on the Reverse Symmetrical Triangle Elliott Wave Pattern

 

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

 

The reverse symmetrical triangle in a bull market. The figure to the right shows what a reverse symmetrical triangle looks like in a bull market. The reverse symmetrical 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.

In a reverse symmetrical triangle, the shape of the pattern follows two diverging trendlines, shown here as red lines. A reverse symmetrical triangle is more commonly known as a broadening top or broadening bottom. According to Frost and Prechter, "There are no variations on the rarer expanding triangle," which is another name for the reverse symmetrical triangle. I have not looked for the 3-3-3-3-3 combination, but I do know that other broadening patterns exist. Check out: right-angled broadening top, ascending, right-angled broadening top, descending, broadening wedge, ascending, and broadening wedge, descending.

 

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The reverse symmetrical triangle in a bear market. A reverse symmetrical triangle in a bear market is an inverted picture of a bull market triangle. The price action swings from trendline to trendline, and diverges. The A-B-C-D-E waves subdivide into threes, forming a 3-3-3-3-3 configuration.

 

Reverse Symmetrical Triangle Rules

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

-- Thomas Bulkowski

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See Also

 

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Chart Patterns: After the Buy

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