- Recognizing correction waves is more difficult than recognizing impulse waves.
- There are more correction patterns than impulse patterns.
- Correction patterns have the tendency to develop more complex combinations.
- The most important rule is that a correction wave of the same order can never have 5 waves.
- Only impulse waves have 5 waves.
- A correction consisting of a 5 impulse wave can therefore never be the end of that correction.
The zigzag pattern shown in figure 7.21 is the most common correction structure.
Figure 7.21: The zigzag pattern is the most common correction structure.
A zigzag can consist of one zigzag, a double zigzag, or, rarely, a triple zigzag. The zigzag belongs to the family of sharp corrections.
Rules and Guidelines
- A zigzag correction has three waves.
- Wave A is an impulse wave or a starting wedge impulse wave.
- Wave B can be any kind of correction pattern.
- Wave B is smaller than wave A.
- Wave C is an impulse wave or an ending wedge impulse wave.
- Wave C is not an ending wedge impulse wave if wave A is a starting wedge impulse wave.
A simple zigzag pattern has three waves. A double zigzag pattern has seven waves, two simple zigzags separated by an X wave. A triple zigzag has 11 waves with two X waves.
The structure of the three waves in a simple zigzag is 5-3-5 and 5-3-5-3-5-3-5 in a double zigzag.
Double and Triple Zigzag Patterns
We use WXY to denote a double zigzag, instead of the standard ABCXABC Elliott notation. For the triple zigzag, this becomes WXYX²Z.
Figure 7.22: Double zigzag pattern using WXY notation.
As you can see in figure 7.22, this is a more consistent way of notation because more zigzags of a lower order (ABC) are connected together by a higher order wave (XYZ).
Rules and Guidelines
- Wave W must be a zigzag pattern.
- Wave X can be any correction pattern, except an inverted broadening triangle.
- Wave X is smaller than wave W.
- Wave Y must be a zigzag pattern.
- Wave Y is, at minimum, equal or bigger than wave X.
- Wave X² can be any correction pattern, except an inverted broadening triangle.
- Wave X² is smaller than wave Y.
- Wave Z must be a zigzag pattern.
- Wave Z is, at minimum, equal or bigger than wave X².