Zigzags, Flats and Irregulars
These corrective waves are broadly called ABC corrections. They differ by the distance their subwaves move in relation to each other and by the way they subdivide.
They are more difficult to recognize because they come in many variations, such as zigzags, flats, and triangles. They can be strung together to create complex corrections.
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 generally because wave B can sometimes go beyond the beginning of wave A.
What might be called "double flats" do occur. However, Elliott categorized such formations as "double threes," a term we discuss in Lesson 9.
Specific corrective patterns fall into four main categories: zigzags, flats, triangles and combinations.
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- Percent of winning trades. The number of profitable trades divided by the total number of trades (excluding flats).
- Maximum number of consecutive losing trades.
I assure you I've researched this portfolio very well, otherwise I wouldn't be putting $10,000 into it. I spent about 12 months flip-flopping over which flatscreen TV to buy - you'd better believe I'm serious about my money.
saying we are traveling up and down over the same price area over and over again, overlapping previous highs and previous lows, generally going nowhere, we are in Wave 2, Wave 4, or Wave B. That is the only conclusion possible. Triangles and flats ...
 See also: Market, Trading, Pattern, Elliott Wave, Triangle
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