Apple correction is a clear example of Zigzag pattern so far..!
Elliott Wave Corrections
Corrective patterns can be grouped into two different categories:
1) Simple correction
2) Complex correction
A simple correction has one pattern only. This pattern is called a Zig-Zag correction. A Zig-Zag correction is a 3-wave pattern.
The Wave A of a Zig-Zag correction always has a 5-wave pattern.
In the other two types of corrections (Flat and Irregular), Wave A has a 3-wave pattern. Thus, if you can identify a 5-wave pattern inside Wave A of any correction, you can then expect the correction to turn out as a Zig-Zag formation.
Wave B = usually 50% of Wave A
Wave B should not exceed 75% of Wave A
Wave C =either 1 x Wave A, or 1.62 x Wave A, or 2.62xWaveA
Corrective patterns can be grouped into two different categories:
1) Simple correction
2) Complex correction
A simple correction has one pattern only. This pattern is called a Zig-Zag correction. A Zig-Zag correction is a 3-wave pattern.
The Wave A of a Zig-Zag correction always has a 5-wave pattern.
In the other two types of corrections (Flat and Irregular), Wave A has a 3-wave pattern. Thus, if you can identify a 5-wave pattern inside Wave A of any correction, you can then expect the correction to turn out as a Zig-Zag formation.
Wave B = usually 50% of Wave A
Wave B should not exceed 75% of Wave A
Wave C =either 1 x Wave A, or 1.62 x Wave A, or 2.62xWaveA
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Use the following link to access trading ideas: patreon.com/SniperTraderStocks?utm_medium=unknown&utm_source=join_link&utm_campaign=creatorshare_creator&utm_content=copyLink
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.