As of 09/29/2023
  Indus: 33,508 -158.84 -0.5%  
  Trans: 14,969 -17.13 -0.1%  
  Utils: 817 +1.02 +0.1%  
  Nasdaq: 13,219 +18.04 +0.1%  
  S&P 500: 4,288 -11.65 -0.3%  
YTD
 +1.1%  
 +11.8%  
-15.6%  
 +26.3%  
 +11.7%  
  Targets    Overview: 09/15/2023  
  Up arrow34,500 or 33,150 by 10/15/2023
  Up arrow15,500 or 14,200 by 10/15/2023
  Up arrow880 or 800 by 10/15/2023
  Up arrow13,750 or 12,700 by 10/15/2023
  Up arrow4,425 or 4,175 by 10/15/2023
As of 09/29/2023
  Indus: 33,508 -158.84 -0.5%  
  Trans: 14,969 -17.13 -0.1%  
  Utils: 817 +1.02 +0.1%  
  Nasdaq: 13,219 +18.04 +0.1%  
  S&P 500: 4,288 -11.65 -0.3%  
YTD
 +1.1%  
 +11.8%  
-15.6%  
 +26.3%  
 +11.7%  
  Targets    Overview: 09/15/2023  
  Up arrow34,500 or 33,150 by 10/15/2023
  Up arrow15,500 or 14,200 by 10/15/2023
  Up arrow880 or 800 by 10/15/2023
  Up arrow13,750 or 12,700 by 10/15/2023
  Up arrow4,425 or 4,175 by 10/15/2023

Bulkowski on the Symmetrical Triangle Elliott Wave Pattern

This page describes the 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 running triangle is very close to the symmetrical triangle. Click the link for more information.

The symmetrical triangle in a bull market. The figure to the right shows what a symmetrical triangle looks like in a bull market. The 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 A 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 symmetrical triangle, the shape of the pattern follows two converging trendlines, shown here as red lines.

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The symmetrical triangle in a bear market. A symmetrical 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.

On rare occasions, a symmetrical triangle can nest inside a symmetrical triangle. You see this when the wave count exceeds the A-B-C-D-E format, forming a nine wave pattern. Also, Frost and Prechter say that when price reaches the apex of the triangle, expect the market to turn.

 

Symmetrical Triangle Rules

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

-- Thomas Bulkowski

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See Also

 

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