A triangle has five legs and they are being labeled a, b, c, d, e that typically moves counter trend and is corrective in nature. There are important Fibonacci ratios that are being respected in a triangle, and on the list below, beside those ratios, are also some important characteristics of both a contracting and an expanding triangle:

- wave a of a contracting triangle is always either a zig-zag based pattern or a flat;
- wave a of an expanding triangle is always a zig-zag based pattern;
- within wave a of a contracting triangle, wave b of a smaller degree must be less than 105% of wave A’s price length;
- wave b must be a zig-zag family pattern;
- wave c of a contracting triangle can be any corrective pattern except a triangle;
- wave c of an expanding triangle must be a zig-zag family pattern;
- wave b of a contracting triangle must retrace wave a by 50% (minimum);
- wave b, c, and d must not move more than 10% beyond the a-c and b-d channel lines;
- in a contracting triangle, wave d must be less than wave c by price and wave d must be greater than or equal to 50% of wave c by price;
- wave e of a contracting triangle can either be a contracting triangle of a zig-zag family pattern;
- wave e of an ending diagonal must must be a zig-zag based pattern;

These are a few guidelines for the waves of a triangle and it is common for price to follow such guidelines. So, whenever you are looking at a triangle, regardless if it is a contracting or an expanding one, try to look for the guideline above to show you relationships between the legs of a triangle. Moreover, legs of a triangle are deeply retraced and a typical level is more than 70% of the previous wave.