In 2006 Dmitry Voznuy and Dave Allman described a new type of triangle, which they called a "Skewed Triangle". The figure above shows how the Skewed triangle ideally lookes like and the chart below is an example from Dmitry and Dave. They said that they have only found skewed triangles in the fx-market.
I have had a very difficulte time decifering the priceaction from late September to November 1'st. I'm sure most had it as a possible Ending Diagonal, as I had it myself, but the last part do look very odd, if that was the case.Instead the Skewed Triangle could be the answer. All wave are relatively simpel and overlapping just a Dmitry and Dave described them and if the ongoing rally develops into a five wave rally then the only way to count this mess is the Skewed Triangle. The target due to Dmitry and Dave is the height of the triangle, which should call for a continuation higher towards at least 1,242.02, befor the top is finaly in place.
That is just below the Inverted Shoulder/Head/Shoulder target at 1,245.
I'm not aware of any Skewed Triangles found in the equity index before.
Please let me hear your opinion.
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