Contracting triangles are a type of correction that consists of five overlapping waves labeled A, B, C, D, and E. Each wave contains a substructure of three smaller waves. These triangles are characterized by a balance of forces that leads to sideways movement, typically accompanied by decreasing volume and volatility. Contracting triangles usually appear just before the final wave in a larger pattern: in impulse waves, they occur at the fourth wave position, while in corrective structures like zigzags, they appear at the B wave position. Additionally, the subwaves within contracting triangles tend to show a relationship of 1 to 0.618.
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