Under NEoWave, all patterns have price and time limits imposed on the final leg of a formation (based on the typical price / time “standards” imposed by prior waves – see the Rule of Similarity and Balance in Chapter 4 of Mastering Elliott Wave).
From a TIME perspective, in Flats and Zigzags, wave-c should never consume more time than the total of waves-a + b combined. In Triangles, wave-e should never take more time than the combined times of waves-b, c & d. In Diametrics, wave-g should never take more time than waves-d, e & f combined. Finally, in Symmetricals, wave-i should not take more time than waves-f, g & h combined.
From a PRICE perspective, wave-c (in Flats and Zigzags) should not be more than about 161.8% of wave-a or b (whichever is larger). In Triangles, wave-e should not be more than 161.8% of the total distance covered from the start of wave-a to the end of wave-c. In Diametrics, wave-g should not be more than 161.8% of wave-e and in Symmetricals, wave-i should not be more than 161.8% of wave-g.
Like all concepts under NEoWave, there is an “Exception to the Rule.” In this case, Triangles and Terminals are that exception. They contain what I call “Supplemental Price and Time.”
From a PRICE perspective, this occurs when the highest or lowest leg of a Triangle or Terminal moves slightly beyond the standard Fibonacci price targets that typically apply in most patterns. From a TIME perspective, the last leg of a Triangle or Terminal will “Push” beyond the ideal time targets imposed by the prior 3 waves (or other typical relationships, such as adding waves-c & d and dividing by 2).
For example, in an expanding Triangle (where wave-e is the largest in price and typically the longest in time), the tail-end of wave-e will move just beyond the maximum expected price target and just beyond the maximum expected time target. Such behavior creates confusion for the unprepared analyst and can cause them to “switch their perspective” from bullish to bearish (or vice versa) at the end of a major trend. So, the impact of “Supplemental Price and Time” in Triangles and Terminals is to make the analyst “give up” on their forecast or position right as it is about to prove correct.