Chapter 4 Four Types of Corrective Patterns
There are a total of four basic wave patterns for corrections: zigzag corrections, flat corrections, triangles, and combination corrections.
Zigzag Corrections (5-3-5)
Zigzag corrections consist of a three-wave pattern that is labeled A-B-C. The subordinate waves of a lesser degree that make up a zigzag correction form a 5-3-5 wave count. In these corrections, waves A and C are impulse waves and Wave B is a corrective wave of a lesser degree. A zigzag correction can extend to form double zigzags or triple zigzags with each zigzag being separated by an intervening wave that has three subordinate waves and is labeled X. You can often anticipate a double zigzag when Wave C of a zigzag appears to fall short of its normal target, though this is not a hard rule.
Flat Corrections (3-3-5)
Flat corrections also consist of a three-wave pattern that is labeled A-B-C but its subordinate waves form a 3-3-5 wave count. A characteristic of these corrections is that they are weak corrections with its Wave C often failing to exceed the length of Wave A. Flat corrections follow a strong impulse wave and occur more often as the fourth rather than as a second wave of an impulse wave. Flat corrections have three subcategories: regular flat corrections; expanded flat corrections and running flat corrections.
Regular Flat Corrections
In a regular flat correction Wave, B tends to be a 100% retracement of Wave A and Wave C tends to be slightly more than a 100% retracement of Wave B, ending slightly further than Wave A.
Expanded Flat Corrections
Expanded flat corrections have a megaphone
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