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Elliott Wave Theory: Correction Waves

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There are twenty one corrective a, b, c patterns.

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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  1. UnknownNovember 11, 2021 at 4:38 AM

    Thanks for useful information my whatsapp number +263786208120

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