These patterns are made up of three formations: Zigzag formation, the Flat formation and the Triangle formation.
The Zigzag formation
A single zigzag pattern is a simple three wave pattern labelled A-B-C.
The sub waves of a zigzag follow a 5-3-5 pattern
Wave B never retraces more than 100% of wave
Correction patterns can sometimes have wave extensions. When the Zigzag pattern is extended it can form a double zigzag or a triple zigzag.
These patterns are separated by a 3 wave pattern.
A zigzag pattern is usually found in wave two.
The Flat formation
The difference between a flat formation and a zigzag is that the sub wave sequence of a flat is 3-3-5.
Wave B usually retraces up to the start of wave A and wave C does not move beyond the end of wave A.
Flats are more common in fourth waves.
A flat wave extension may result in the formation of a double flat.
Triangles
Triangles contain 5 waves that are labelled a-b-c-d-e.
These waves subdivide into sub waves producing a count of 3-3-3-3-3.
There are two types of triangles: Expanding and Contracting.
Within the contracting triangles there are three types: symmetrical, ascending, and descending
See Also: Analysis of Trend Continuation and Trend Reversal Patterns
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