Let’s take a look a some more Elliott Wave formations.
Zig-zag formations are very steep moves in price that go against the predominant trend.
Wave B is typically the shortest in length compared to Waves A and C.
These zig-zag patterns can happen twice or even thrice in a correction (2 to 3 zig-zag patterns linked together).
Like with all waves, each of the waves in zig-zag patterns could be broken up into 5-wave patterns.
Flat formations are simple sideways corrective waves.
In flats, the lengths of the waves are GENERALLY equal in length, with wave B reversing wave A’s move and wave C undoing wave B’s move.
We say because wave B can sometimes go beyond the beginning of wave A.
Triangle formations are corrective patterns that are bound by either converging or diverging trend lines.
Triangles are made up of 5-waves that move against the trend in a sideways fashion.
These triangles can be symmetrical, descending, ascending, or expanding.
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